Dearborn Partners LLC Sells 5,329 Shares of Air Products & Chemicals, Inc. (NYSE:APD)

Dearborn Partners LLC reduced its position in Air Products & Chemicals, Inc. (NYSE:APD) by 3.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 158,777 shares of the basic materials company’s stock after selling 5,329 shares during the quarter. Air Products & Chemicals makes up about 2.1% of Dearborn Partners LLC’s investment portfolio, making the stock its 13th largest holding. Dearborn Partners LLC owned approximately 0.07% of Air Products & Chemicals worth $38,338,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Community Bank N.A. boosted its position in shares of Air Products & Chemicals by 2.8% in the second quarter. Community Bank N.A. now owns 3,730 shares of the basic materials company’s stock worth $901,000 after purchasing an additional 100 shares during the period. Brendel Financial Advisors LLC boosted its position in shares of Air Products & Chemicals by 7.3% in the second quarter. Brendel Financial Advisors LLC now owns 4,704 shares of the basic materials company’s stock worth $1,136,000 after purchasing an additional 321 shares during the period. EFG Asset Management Americas Corp. boosted its position in shares of Air Products & Chemicals by 15.4% in the second quarter. EFG Asset Management Americas Corp. now owns 21,772 shares of the basic materials company’s stock worth $5,256,000 after purchasing an additional 2,901 shares during the period. Chartwell Investment Partners LLC boosted its position in shares of Air Products & Chemicals by 2.6% in the second quarter. Chartwell Investment Partners LLC now owns 41,019 shares of the basic materials company’s stock worth $9,904,000 after purchasing an additional 1,054 shares during the period. Finally, State of Michigan Retirement System boosted its position in shares of Air Products & Chemicals by 3.5% in the second quarter. State of Michigan Retirement System now owns 176,385 shares of the basic materials company’s stock worth $42,590,000 after purchasing an additional 5,883 shares during the period. Institutional investors and hedge funds own 83.65% of the company’s stock.

Air Products & Chemicals stock traded up $1.82 during mid-day trading on Friday, reaching $286.63. 1,546,040 shares of the company’s stock traded hands, compared to its average volume of 1,355,008. The company has a market cap of $62.91 billion, a price-to-earnings ratio of 33.67, a PEG ratio of 3.87 and a beta of 0.85. The stock has a 50 day moving average of $260.72 and a two-hundred day moving average of $235.84. The company has a quick ratio of 3.32, a current ratio of 3.48 and a debt-to-equity ratio of 0.61. Air Products & Chemicals, Inc. has a 12-month low of $167.43 and a 12-month high of $299.82.

Air Products & Chemicals (NYSE:APD) last posted its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.98 by $0.03. Air Products & Chemicals had a net margin of 21.58% and a return on equity of 15.96%. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the previous year, the business posted $2.17 earnings per share. The business’s revenue was down 7.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Air Products & Chemicals, Inc. will post 8.39 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Thursday, October 1st will be given a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Wednesday, September 30th. Air Products & Chemicals’s dividend payout ratio (DPR) is 65.29%.

Several research firms have recently commented on APD. Deutsche Bank boosted their target price on shares of Air Products & Chemicals from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Monness Crespi & Hardt downgraded shares of Air Products & Chemicals from a “buy” rating to a “neutral” rating in a report on Friday, July 24th. HSBC downgraded shares of Air Products & Chemicals from a “buy” rating to a “hold” rating and set a $225.00 target price on the stock. in a report on Tuesday, June 16th. They noted that the move was a valuation call. SunTrust Banks boosted their target price on shares of Air Products & Chemicals from $295.00 to $330.00 and gave the stock a “buy” rating in a report on Friday, July 24th. They noted that the move was a valuation call. Finally, Morgan Stanley boosted their target price on shares of Air Products & Chemicals from $245.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $282.44.

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.

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

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