Shell Asset Management Co. decreased its stake in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 20.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,493 shares of the basic materials company’s stock after selling 8,379 shares during the period. Shell Asset Management Co.’s holdings in Air Products & Chemicals were worth $6,686,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of APD. Sound Income Strategies LLC increased its position in shares of Air Products & Chemicals by 118.6% during the first quarter. Sound Income Strategies LLC now owns 129 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 70 shares in the last quarter. Wealth Quarterback LLC bought a new stake in shares of Air Products & Chemicals during the fourth quarter worth $30,000. Stonebridge Financial Planning Group LLC bought a new stake in shares of Air Products & Chemicals during the first quarter worth $32,000. Front Row Advisors LLC bought a new stake in shares of Air Products & Chemicals during the first quarter worth $35,000. Finally, TI Trust Inc. bought a new stake in shares of Air Products & Chemicals during the fourth quarter worth $36,000. 83.60% of the stock is owned by institutional investors.
APD stock traded down $1.19 during trading hours on Friday, reaching $234.35. The stock had a trading volume of 775,139 shares, compared to its average volume of 1,035,600. The stock has a market capitalization of $52.02 billion, a PE ratio of 26.89, a price-to-earnings-growth ratio of 2.94 and a beta of 0.86. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.59 and a quick ratio of 2.37. The stock has a 50-day simple moving average of $219.14 and a 200 day simple moving average of $227.68. Air Products & Chemicals, Inc. has a fifty-two week low of $167.43 and a fifty-two week high of $257.01.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Wednesday, July 1st will be paid a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Tuesday, June 30th. Air Products & Chemicals’s dividend payout ratio is presently 65.29%.
Several equities research analysts have recently issued reports on the stock. HSBC reissued a “buy” rating on shares of Air Products & Chemicals in a research report on Wednesday, April 15th. SunTrust Banks raised their target price on shares of Air Products & Chemicals from $255.00 to $265.00 and gave the company a “positive” rating in a research report on Monday, January 27th. Argus reaffirmed a “buy” rating and issued a $234.00 target price (down previously from $276.00) on shares of Air Products & Chemicals in a research report on Wednesday, March 25th. Sanford C. Bernstein raised shares of Air Products & Chemicals from a “market perform” rating to an “outperform” rating and raised their target price for the company from $246.00 to $262.00 in a research report on Wednesday, April 15th. Finally, Wells Fargo & Co decreased their target price on shares of Air Products & Chemicals from $265.00 to $260.00 and set an “overweight” rating for the company in a research report on Friday, April 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $247.33.
About Air Products & Chemicals
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.
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