Meyer Handelman Co. Reduces Position in Air Products and Chemicals, Inc. (NYSE:APD)

Meyer Handelman Co. decreased its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 0.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 38,018 shares of the basic materials company’s stock after selling 50 shares during the quarter. Meyer Handelman Co.’s holdings in Air Products and Chemicals were worth $9,811,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Air Products and Chemicals in the 4th quarter valued at approximately $27,000. Roble Belko & Company Inc bought a new position in Air Products and Chemicals during the 4th quarter valued at $27,000. Sachetta LLC acquired a new position in Air Products and Chemicals during the 4th quarter worth $27,000. Security National Bank acquired a new position in Air Products and Chemicals during the 4th quarter worth $27,000. Finally, Transcendent Capital Group LLC bought a new stake in shares of Air Products and Chemicals in the 4th quarter worth about $28,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. StockNews.com downgraded Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Monday. JPMorgan Chase & Co. lifted their target price on Air Products and Chemicals from $300.00 to $340.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Barclays upped their price target on Air Products and Chemicals from $290.00 to $295.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Mizuho decreased their price objective on shares of Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Finally, BMO Capital Markets increased their target price on shares of Air Products and Chemicals from $300.00 to $323.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $296.53.

Air Products and Chemicals Stock Performance

NYSE APD traded up $2.72 on Tuesday, hitting $276.65. The stock had a trading volume of 695,254 shares, compared to its average volume of 1,736,040. The company’s 50-day moving average is $267.49 and its two-hundred day moving average is $250.87. Air Products and Chemicals, Inc. has a one year low of $212.24 and a one year high of $307.71. The stock has a market cap of $61.50 billion, a price-to-earnings ratio of 24.97, a P/E/G ratio of 3.17 and a beta of 0.81. The company has a quick ratio of 1.31, a current ratio of 1.27 and a debt-to-equity ratio of 0.77.

Air Products and Chemicals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, October 1st will be paid a $1.77 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $7.08 annualized dividend and a dividend yield of 2.56%. Air Products and Chemicals’s payout ratio is 63.90%.

Air Products and Chemicals Company Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.