Northstar Capital Management LLC Lowers Stock Position in Air Products & Chemicals, Inc. (NYSE:APD)

Northstar Capital Management LLC lowered its holdings in Air Products & Chemicals, Inc. (NYSE:APD) by 1.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,344 shares of the basic materials company’s stock after selling 265 shares during the period. Air Products & Chemicals comprises about 3.2% of Northstar Capital Management LLC’s portfolio, making the stock its 12th largest holding. Northstar Capital Management LLC’s holdings in Air Products & Chemicals were worth $3,503,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc grew its holdings in Air Products & Chemicals by 1.3% during the 3rd quarter. Vanguard Group Inc now owns 18,589,029 shares of the basic materials company’s stock worth $3,105,298,000 after acquiring an additional 238,723 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Air Products & Chemicals by 1.9% in the 4th quarter. BlackRock Inc. now owns 17,129,190 shares of the basic materials company’s stock valued at $2,741,528,000 after purchasing an additional 317,875 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Air Products & Chemicals by 0.6% in the 1st quarter. Wells Fargo & Company MN now owns 3,943,516 shares of the basic materials company’s stock valued at $753,054,000 after purchasing an additional 23,089 shares during the last quarter. Findlay Park Partners LLP boosted its stake in shares of Air Products & Chemicals by 6.4% in the 4th quarter. Findlay Park Partners LLP now owns 3,284,423 shares of the basic materials company’s stock valued at $525,672,000 after purchasing an additional 196,923 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Air Products & Chemicals by 3.2% in the 4th quarter. Northern Trust Corp now owns 3,239,618 shares of the basic materials company’s stock valued at $518,501,000 after purchasing an additional 100,657 shares during the last quarter. 87.06% of the stock is owned by institutional investors and hedge funds.

A number of research analysts recently issued reports on the stock. Credit Suisse Group boosted their target price on shares of Air Products & Chemicals from $188.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. BMO Capital Markets boosted their target price on shares of Air Products & Chemicals from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Tuesday, April 9th. KeyCorp upped their price objective on shares of Air Products & Chemicals from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Zacks Investment Research downgraded shares of Air Products & Chemicals from a “hold” rating to a “sell” rating in a report on Wednesday, April 17th. Finally, Deutsche Bank upped their price objective on shares of Air Products & Chemicals from $182.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company. Air Products & Chemicals currently has an average rating of “Buy” and an average price target of $213.00.

Shares of APD stock traded up $2.87 on Friday, hitting $226.37. The stock had a trading volume of 1,521,900 shares, compared to its average volume of 1,183,335. The company’s 50 day moving average is $213.34. The company has a market cap of $49.29 billion, a PE ratio of 30.39, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 2.36. Air Products & Chemicals, Inc. has a 12-month low of $148.44 and a 12-month high of $226.65.

Air Products & Chemicals (NYSE:APD) last announced its earnings results on Wednesday, April 24th. The basic materials company reported $1.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.88 by $0.04. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.23 billion. Air Products & Chemicals had a net margin of 18.90% and a return on equity of 15.28%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.71 earnings per share. As a group, equities analysts forecast that Air Products & Chemicals, Inc. will post 8.22 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 12th. Investors of record on Monday, July 1st will be given a dividend of $1.16 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $4.64 annualized dividend and a yield of 2.05%. Air Products & Chemicals’s payout ratio is currently 62.28%.

In related news, VP Russell A. Flugel sold 2,970 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $207.01, for a total transaction of $614,819.70. Following the completion of the transaction, the vice president now owns 6,387 shares in the company, valued at $1,322,172.87. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.35% of the stock is currently owned by corporate insiders.

Air Products & Chemicals Company Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.

Recommended Story: Return On Assets

Institutional Ownership by Quarter for Air Products & Chemicals (NYSE:APD)

Receive News & Ratings for Air Products & Chemicals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Air Products & Chemicals and related companies with MarketBeat.com's FREE daily email newsletter.