Private Asset Management Inc. lowered its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 84.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 499 shares of the basic materials company’s stock after selling 2,801 shares during the quarter. Private Asset Management Inc.’s holdings in Air Products and Chemicals were worth $499,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Good Life Advisors LLC bought a new position in shares of Air Products and Chemicals during the 2nd quarter valued at $217,000. Bancorpsouth Inc. raised its holdings in shares of Air Products and Chemicals by 4.1% during the 1st quarter. Bancorpsouth Inc. now owns 17,154 shares of the basic materials company’s stock valued at $2,321,000 after purchasing an additional 683 shares in the last quarter. Utah Retirement Systems raised its holdings in shares of Air Products and Chemicals by 9.2% during the 2nd quarter. Utah Retirement Systems now owns 39,143 shares of the basic materials company’s stock valued at $5,600,000 after purchasing an additional 3,300 shares in the last quarter. Swiss National Bank raised its holdings in shares of Air Products and Chemicals by 9.0% during the 2nd quarter. Swiss National Bank now owns 794,606 shares of the basic materials company’s stock valued at $113,676,000 after purchasing an additional 65,600 shares in the last quarter. Finally, Sage Capital Advisors llc bought a new position in shares of Air Products and Chemicals during the 2nd quarter valued at $718,000. Institutional investors and hedge funds own 87.87% of the company’s stock.

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Shares of Air Products and Chemicals, Inc. (APD) traded down 0.3253% on Wednesday, reaching $152.9708. 152,451 shares of the company traded hands. The stock has a 50 day moving average of $149.84 and a 200 day moving average of $144.83. The stock has a market cap of $33.34 billion, a price-to-earnings ratio of 11.4921 and a beta of 1.26. Air Products and Chemicals, Inc. has a 52-week low of $129.00 and a 52-week high of $154.41.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $1.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.06. The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.06 billion. Air Products and Chemicals had a net margin of 34.63% and a return on equity of 17.23%. The company’s revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.92 earnings per share. On average, analysts expect that Air Products and Chemicals, Inc. will post $6.23 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Stockholders of record on Tuesday, October 10th will be given a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Friday, October 6th. Air Products and Chemicals’s payout ratio is presently 28.51%.

APD has been the topic of a number of recent research reports. KeyCorp restated a “buy” rating and set a $161.00 price target on shares of Air Products and Chemicals in a report on Friday, September 8th. Deutsche Bank AG raised their price target on shares of Air Products and Chemicals from $160.00 to $168.00 and gave the company a “hold” rating in a report on Wednesday, August 2nd. Vertical Research restated a “hold” rating and set a $148.00 price target (up previously from $146.00) on shares of Air Products and Chemicals in a report on Tuesday, September 12th. Jefferies Group LLC restated a “hold” rating and set a $155.00 price target on shares of Air Products and Chemicals in a report on Thursday, September 28th. Finally, Susquehanna Bancshares Inc upgraded shares of Air Products and Chemicals from a “neutral” rating to a “positive” rating and raised their price target for the company from $165.00 to $175.00 in a report on Thursday, September 14th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $157.15.

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.

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

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