Cadence Capital Management LLC lowered its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 26.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,683 shares of the basic materials company’s stock after selling 10,084 shares during the period. Cadence Capital Management LLC’s holdings in Air Products and Chemicals were worth $3,960,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in APD. iAB Financial Bank purchased a new stake in shares of Air Products and Chemicals during the first quarter valued at $100,000. Patten Group Inc. boosted its stake in shares of Air Products and Chemicals by 3.7% in the first quarter. Patten Group Inc. now owns 778 shares of the basic materials company’s stock valued at $105,000 after buying an additional 28 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Air Products and Chemicals during the first quarter valued at $109,000. Guardian Life Insurance Co. of America boosted its stake in shares of Air Products and Chemicals by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 838 shares of the basic materials company’s stock valued at $113,000 after buying an additional 6 shares in the last quarter. Finally, Webster Bank N. A. boosted its stake in shares of Air Products and Chemicals by 68.2% in the first quarter. Webster Bank N. A. now owns 851 shares of the basic materials company’s stock valued at $115,000 after buying an additional 345 shares in the last quarter. 88.75% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals, Inc. (NYSE APD) opened at 146.01 on Friday. Air Products and Chemicals, Inc. has a 12 month low of $129.00 and a 12 month high of $150.45. The firm has a market capitalization of $31.82 billion, a price-to-earnings ratio of 10.97 and a beta of 1.25. The company has a 50 day moving average price of $145.45 and a 200 day moving average price of $142.15.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Tuesday, October 10th will be issued a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend is Friday, October 6th. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 28.51%.

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Several analysts have weighed in on the company. Deutsche Bank AG boosted their price objective on Air Products and Chemicals from $160.00 to $168.00 and gave the stock a “hold” rating in a report on Wednesday, August 2nd. Jefferies Group LLC reissued a “hold” rating and set a $155.00 price objective on shares of Air Products and Chemicals in a report on Friday, July 14th. Zacks Investment Research cut Air Products and Chemicals from a “buy” rating to a “hold” rating in a research note on Monday, May 1st. Vertical Research raised Air Products and Chemicals from a “sell” rating to a “hold” rating and set a $146.00 price target for the company in a research note on Monday, August 7th. Finally, BidaskClub cut Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Air Products and Chemicals 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.

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

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