Oppenheimer & Co. Inc. decreased its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 36.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,259 shares of the basic materials company’s stock after selling 15,038 shares during the period. Oppenheimer & Co. Inc.’s holdings in Air Products and Chemicals were worth $3,756,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Nuance Investments LLC increased its stake in shares of Air Products and Chemicals by 8.3% in the second quarter. Nuance Investments LLC now owns 41,446 shares of the basic materials company’s stock valued at $5,929,000 after buying an additional 3,165 shares during the period. Westpac Banking Corp increased its stake in shares of Air Products and Chemicals by 1.7% in the second quarter. Westpac Banking Corp now owns 16,340 shares of the basic materials company’s stock valued at $2,338,000 after buying an additional 269 shares during the period. Swiss National Bank increased its stake in shares of Air Products and Chemicals by 9.0% in the second quarter. Swiss National Bank now owns 794,606 shares of the basic materials company’s stock valued at $113,676,000 after buying an additional 65,600 shares during the period. Pacad Investment Ltd. acquired a new stake in shares of Air Products and Chemicals in the second quarter valued at about $2,918,000. Finally, Commerce Bank increased its stake in shares of Air Products and Chemicals by 53.8% in the second quarter. Commerce Bank now owns 26,694 shares of the basic materials company’s stock valued at $3,819,000 after buying an additional 9,335 shares during the period. 88.08% of the stock is owned by institutional investors.

Several brokerages have recently weighed in on APD. Deutsche Bank AG increased their price target on Air Products and Chemicals from $160.00 to $168.00 and gave the company a “hold” rating in a research note on Wednesday, August 2nd. Jefferies Group LLC reissued a “hold” rating and issued a $155.00 price target on shares of Air Products and Chemicals in a research note on Friday, July 14th. Argus increased their price target on Air Products and Chemicals from $159.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, August 28th. 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 investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $153.23.

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Shares of Air Products and Chemicals, Inc. (NYSE APD) opened at 145.65 on Monday. The company’s 50-day moving average price is $145.71 and its 200 day moving average price is $142.38. The firm has a market cap of $31.75 billion, a PE ratio of 10.94 and a beta of 1.25. Air Products and Chemicals, Inc. has a 1-year low of $129.00 and a 1-year high of $150.45.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the previous year, the business earned $1.92 EPS. Air Products and Chemicals’s revenue was up 10.8% compared to the same quarter last year. On average, analysts predict that Air Products and Chemicals, Inc. will post $6.23 EPS for the current year.

The firm 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 dividend of $0.95 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $3.80 dividend on an annualized basis and a yield of 2.61%. Air Products and Chemicals’s dividend payout ratio is presently 28.51%.

Air Products and Chemicals 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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