Grandview Asset Management LLC Sells 450 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Grandview Asset Management LLC cut its holdings in Air Products and Chemicals, Inc. (NYSE:APDFree Report) by 32.3% during the 4th quarter, Holdings Channel reports. The firm owned 944 shares of the basic materials company’s stock after selling 450 shares during the period. Grandview Asset Management LLC’s holdings in Air Products and Chemicals were worth $258,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Norges Bank bought a new stake in shares of Air Products and Chemicals in the 4th quarter worth approximately $962,356,000. Moneta Group Investment Advisors LLC boosted its position in shares of Air Products and Chemicals by 111,211.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,640,729 shares of the basic materials company’s stock worth $505,771,000 after purchasing an additional 1,639,255 shares in the last quarter. Morgan Stanley raised its holdings in Air Products and Chemicals by 26.0% in the 4th quarter. Morgan Stanley now owns 5,414,008 shares of the basic materials company’s stock worth $1,668,923,000 after acquiring an additional 1,115,729 shares during the last quarter. Barclays PLC lifted its position in Air Products and Chemicals by 222.0% in the 2nd quarter. Barclays PLC now owns 879,406 shares of the basic materials company’s stock valued at $263,407,000 after acquiring an additional 606,280 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in Air Products and Chemicals by 1,696.4% in the 4th quarter. Nordea Investment Management AB now owns 518,197 shares of the basic materials company’s stock valued at $142,344,000 after acquiring an additional 489,350 shares in the last quarter. 82.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Bank of America raised Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $264.00 price objective on the stock in a research report on Thursday, February 15th. Seaport Res Ptn cut Air Products and Chemicals from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 6th. Wolfe Research assumed coverage on Air Products and Chemicals in a research report on Friday, March 1st. They issued an “outperform” rating and a $279.00 price objective on the stock. TheStreet cut Air Products and Chemicals from a “b” rating to a “c+” rating in a research report on Monday, February 5th. Finally, JPMorgan Chase & Co. lowered their price target on Air Products and Chemicals from $295.00 to $270.00 and set an “overweight” rating on the stock in a report on Tuesday, February 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $280.29.

View Our Latest Stock Report on Air Products and Chemicals

Air Products and Chemicals Price Performance

APD stock traded down $2.88 during trading on Wednesday, reaching $238.94. The company’s stock had a trading volume of 2,848,649 shares, compared to its average volume of 1,897,563. The company has a market capitalization of $53.12 billion, a P/E ratio of 22.80, a price-to-earnings-growth ratio of 2.70 and a beta of 0.81. The company’s fifty day moving average is $242.79 and its 200-day moving average is $266.19. The company has a quick ratio of 1.58, a current ratio of 1.81 and a debt-to-equity ratio of 0.74. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $307.71.

Air Products and Chemicals (NYSE:APDGet Free Report) last issued its quarterly earnings data on Monday, February 5th. The basic materials company reported $2.82 earnings per share for the quarter, missing analysts’ consensus estimates of $3.00 by ($0.18). The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.20 billion. Air Products and Chemicals had a net margin of 18.82% and a return on equity of 16.84%. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.64 EPS. On average, research analysts expect that Air Products and Chemicals, Inc. will post 12.38 earnings per share for the current fiscal year.

Air Products and Chemicals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, April 1st will be given a dividend of $1.77 per share. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.75. The ex-dividend date is Thursday, March 28th. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.96%. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 66.79%.

About Air Products and Chemicals

(Free Report)

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.

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

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