WASHINGTON TRUST Co lowered its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 8.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,266 shares of the basic materials company’s stock after selling 204 shares during the period. WASHINGTON TRUST Co’s holdings in Air Products and Chemicals were worth $324,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. DnB Asset Management AS raised its stake in Air Products and Chemicals by 12.9% in the first quarter. DnB Asset Management AS now owns 23,652 shares of the basic materials company’s stock valued at $3,200,000 after buying an additional 2,700 shares during the period. Boston Advisors LLC bought a new stake in Air Products and Chemicals during the first quarter valued at approximately $292,000. Quantitative Systematic Strategies LLC bought a new stake in Air Products and Chemicals during the first quarter valued at approximately $201,000. Ledyard National Bank raised its stake in Air Products and Chemicals by 7.2% in the first quarter. Ledyard National Bank now owns 1,519 shares of the basic materials company’s stock valued at $206,000 after buying an additional 102 shares during the period. Finally, Bollard Group LLC raised its stake in Air Products and Chemicals by 0.6% in the first quarter. Bollard Group LLC now owns 2,102 shares of the basic materials company’s stock valued at $284,000 after buying an additional 12 shares during the period. 88.75% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Air Products and Chemicals, Inc. (NYSE:APD) opened at 145.76 on Monday. The firm has a market capitalization of $31.77 billion, a price-to-earnings ratio of 10.95 and a beta of 1.25. The firm has a 50-day moving average price of $145.17 and a 200 day moving average price of $141.94. Air Products and Chemicals, Inc. has a one year low of $129.00 and a one year high of $150.45.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.06. The business had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Air Products and Chemicals had a return on equity of 17.23% and a net margin of 34.63%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.92 EPS. Equities analysts forecast that Air Products and Chemicals, Inc. will post $6.23 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Tuesday, October 10th will be issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend is Friday, October 6th. Air Products and Chemicals’s dividend payout ratio is currently 28.51%.

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APD has been the topic of several analyst reports. Deutsche Bank AG raised Air Products and Chemicals from a “hold” rating to a “buy” rating and raised their target price for the stock from $148.00 to $160.00 in a report on Monday, May 1st. Zacks Investment Research lowered Air Products and Chemicals from a “buy” rating to a “hold” rating in a report on Monday, May 1st. Jefferies Group LLC reaffirmed a “hold” rating and set a $155.00 target price on shares of Air Products and Chemicals in a report on Tuesday, May 2nd. BidaskClub lowered Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $158.00 target price (up from $153.00) on shares of Air Products and Chemicals in a report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $152.77.

Air Products and Chemicals Company Profile

Air Products and Chemicals, Inc, is an industrial gases company. The Company’s Industrial Gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. The Company is also a supplier of liquefied natural gas process technology and equipment.

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

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