Montag & Caldwell LLC Lowers Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Montag & Caldwell LLC lessened its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 5.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 108,404 shares of the basic materials company’s stock after selling 6,546 shares during the quarter. Air Products and Chemicals accounts for 2.8% of Montag & Caldwell LLC’s investment portfolio, making the stock its 15th biggest position. Montag & Caldwell LLC’s holdings in Air Products and Chemicals were worth $31,186,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Gofen & Glossberg LLC IL raised its position in Air Products and Chemicals by 11.3% in the 2nd quarter. Gofen & Glossberg LLC IL now owns 80,515 shares of the basic materials company’s stock worth $23,162,000 after purchasing an additional 8,172 shares during the period. NFJ Investment Group LLC purchased a new position in Air Products and Chemicals in the 1st quarter worth $1,857,000. Point72 Asset Management L.P. increased its position in shares of Air Products and Chemicals by 434.9% in the first quarter. Point72 Asset Management L.P. now owns 96,825 shares of the basic materials company’s stock valued at $27,241,000 after acquiring an additional 78,725 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Air Products and Chemicals by 55.5% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 5,042 shares of the basic materials company’s stock valued at $1,450,000 after acquiring an additional 1,800 shares during the period. Finally, Voloridge Investment Management LLC increased its position in shares of Air Products and Chemicals by 53.1% in the first quarter. Voloridge Investment Management LLC now owns 319,918 shares of the basic materials company’s stock valued at $90,006,000 after acquiring an additional 110,944 shares during the period. Institutional investors own 80.23% of the company’s stock.

A number of equities analysts have issued reports on the stock. BMO Capital Markets decreased their price objective on shares of Air Products and Chemicals from $332.00 to $312.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 11th. They noted that the move was a valuation call. Cowen decreased their price objective on shares of Air Products and Chemicals from $360.00 to $335.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 10th. Wolfe Research assumed coverage on shares of Air Products and Chemicals in a research report on Wednesday, June 9th. They issued an “outperform” rating on the stock. Susquehanna upgraded shares of Air Products and Chemicals from a “neutral” rating to a “positive” rating and boosted their price objective for the company from $240.00 to $350.00 in a research report on Friday, June 11th. Finally, Susquehanna Bancshares raised shares of Air Products and Chemicals to a “positive” rating and lifted their target price for the company from $240.00 to $350.00 in a research note on Friday, June 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $313.24.

NYSE:APD traded up $0.48 during mid-day trading on Tuesday, hitting $258.66. 12,827 shares of the company’s stock were exchanged, compared to its average volume of 1,006,411. Air Products and Chemicals, Inc. has a one year low of $245.75 and a one year high of $327.89. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.11 and a quick ratio of 2.94. The business has a fifty day moving average price of $277.36 and a 200 day moving average price of $285.11. The company has a market cap of $57.26 billion, a PE ratio of 29.04, a P/E/G ratio of 2.83 and a beta of 0.74.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data on Sunday, August 8th. The basic materials company reported $2.31 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.05). Air Products and Chemicals had a return on equity of 14.84% and a net margin of 20.15%. The business had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the previous year, the firm earned $2.01 EPS. The company’s revenue was up 26.1% on a year-over-year basis. On average, equities analysts forecast that Air Products and Chemicals, Inc. will post 9.01 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 8th. Stockholders of record on Friday, October 1st will be paid a $1.50 dividend. The ex-dividend date of this dividend is Thursday, September 30th. This represents a $6.00 annualized dividend and a dividend yield of 2.32%. Air Products and Chemicals’s dividend payout ratio is presently 71.60%.

Air Products and Chemicals Company Profile

Air Products & Chemicals, Inc engages in the manufacture and distribution of atmospheric gases. It operates through the following segments: Industrial Gases-Americas, Industrial Gases-EMEA (Europe, Middle East, and Africa), Industrial Gases-Asia, Industrial Gases-Global and Corporate and Other. The Industrial Gases-America, EMEA and Asia segment markets and produces atmospheric gases such as oxygen, nitrogen, argon, and rare gases, process gases such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas and specialty gases and equipment for the production and processing of gases such as air separation units and non-cryogenic generators.

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

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