Air Products and Chemicals, Inc. (NYSE:APD) Stake Reduced by Legacy Advisors LLC

Legacy Advisors LLC trimmed its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 68.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 4,681 shares of the basic materials company’s stock after selling 10,075 shares during the quarter. Legacy Advisors LLC’s holdings in Air Products and Chemicals were worth $1,208,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of APD. Sachetta LLC bought a new stake in Air Products and Chemicals in the 4th quarter valued at about $27,000. Security National Bank bought a new stake in shares of Air Products and Chemicals during the fourth quarter valued at approximately $27,000. Thompson Investment Management Inc. acquired a new position in shares of Air Products and Chemicals during the first quarter worth approximately $27,000. Transcendent Capital Group LLC acquired a new stake in Air Products and Chemicals in the 4th quarter valued at approximately $28,000. Finally, Hexagon Capital Partners LLC raised its stake in Air Products and Chemicals by 2,250.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 135 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. UBS Group raised their price target on Air Products and Chemicals from $276.00 to $281.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Barclays boosted their price target on shares of Air Products and Chemicals from $290.00 to $295.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Bank of America upped their price target on shares of Air Products and Chemicals from $275.00 to $312.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Deutsche Bank Aktiengesellschaft lowered shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and lowered their price objective for the company from $310.00 to $280.00 in a research note on Monday, July 22nd. Finally, StockNews.com upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $297.40.

Air Products and Chemicals Stock Up 0.6 %

Shares of Air Products and Chemicals stock opened at $278.85 on Friday. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $307.71. The firm has a market capitalization of $61.99 billion, a PE ratio of 25.17, a price-to-earnings-growth ratio of 3.72 and a beta of 0.81. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.77. The stock’s fifty day moving average is $267.41 and its 200-day moving average is $254.21.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.16. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $3.04 billion. Equities analysts anticipate that Air Products and Chemicals, Inc. will post 12.32 earnings per share for the current year.

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 issued a dividend of $1.77 per share. The ex-dividend date is Tuesday, October 1st. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.54%. Air Products and Chemicals’s dividend payout ratio is 63.90%.

About Air Products and Chemicals

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.