Air Products and Chemicals, Inc. (NYSE:APD) Position Trimmed by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale trimmed its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 20.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,472 shares of the basic materials company’s stock after selling 12,138 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Air Products and Chemicals were worth $11,729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Turtle Creek Wealth Advisors LLC purchased a new stake in Air Products and Chemicals in the 4th quarter worth approximately $27,000. Roble Belko & Company Inc purchased a new stake in shares of Air Products and Chemicals during the fourth quarter worth $27,000. Sachetta LLC acquired a new stake in Air Products and Chemicals during the fourth quarter valued at $27,000. Security National Bank purchased a new position in Air Products and Chemicals in the fourth quarter valued at about $27,000. Finally, Thompson Investment Management Inc. acquired a new position in Air Products and Chemicals in the 1st quarter worth about $27,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Air Products and Chemicals Stock Performance

NYSE APD traded down $5.73 during trading on Friday, hitting $281.74. The company’s stock had a trading volume of 1,832,140 shares, compared to its average volume of 1,710,808. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $307.71. The firm has a market cap of $62.63 billion, a P/E ratio of 25.43, a price-to-earnings-growth ratio of 3.17 and a beta of 0.81. The firm has a 50 day moving average price of $265.80 and a 200 day moving average price of $250.20. 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 (NYSE:APD) last released its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.70 by $0.15. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. The business’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.74 EPS. Equities research analysts forecast that Air Products and Chemicals, Inc. will post 12.29 earnings per share for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, October 1st will be paid a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.51%. The ex-dividend date is Tuesday, October 1st. Air Products and Chemicals’s payout ratio is presently 63.90%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on APD. JPMorgan Chase & Co. boosted their price target on Air Products and Chemicals from $300.00 to $340.00 and gave the company an “overweight” rating in a research note on Friday. TD Cowen increased their price target on shares of Air Products and Chemicals from $305.00 to $320.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. BMO Capital Markets raised their price target on shares of Air Products and Chemicals from $294.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, July 11th. Citigroup upped their price objective on shares of Air Products and Chemicals from $280.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Finally, Wells Fargo & Company raised their target price on Air Products and Chemicals from $240.00 to $280.00 and gave the company an “overweight” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $292.14.

Air Products and Chemicals 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.