Argent Capital Management LLC Sells 1,451 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Argent Capital Management LLC cut its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APDFree Report) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,613 shares of the basic materials company’s stock after selling 1,451 shares during the period. Argent Capital Management LLC’s holdings in Air Products and Chemicals were worth $18,786,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital Research Global Investors increased its position in shares of Air Products and Chemicals by 167.2% during the fourth quarter. Capital Research Global Investors now owns 6,921,011 shares of the basic materials company’s stock worth $1,894,973,000 after acquiring an additional 4,330,471 shares in the last quarter. Morgan Stanley increased its position in shares of Air Products and Chemicals by 4.6% during the third quarter. Morgan Stanley now owns 5,302,455 shares of the basic materials company’s stock worth $1,502,717,000 after acquiring an additional 235,037 shares in the last quarter. Northern Trust Corp increased its position in shares of Air Products and Chemicals by 1.0% during the third quarter. Northern Trust Corp now owns 3,829,919 shares of the basic materials company’s stock worth $1,085,399,000 after acquiring an additional 39,215 shares in the last quarter. Norges Bank bought a new stake in shares of Air Products and Chemicals during the fourth quarter worth about $852,288,000. Finally, Raymond James & Associates increased its position in shares of Air Products and Chemicals by 3.6% during the fourth quarter. Raymond James & Associates now owns 1,931,619 shares of the basic materials company’s stock worth $528,877,000 after acquiring an additional 66,906 shares in the last quarter. 81.66% of the stock is owned by institutional investors.

Air Products and Chemicals Stock Performance

Shares of APD stock traded up $2.24 during trading on Wednesday, reaching $283.05. 1,385,807 shares of the company’s stock traded hands, compared to its average volume of 1,701,195. The company has a market capitalization of $62.92 billion, a P/E ratio of 25.55, a PEG ratio of 3.06 and a beta of 0.84. The company has a current ratio of 1.49, a quick ratio of 1.31 and a debt-to-equity ratio of 0.77. The firm’s 50-day moving average is $250.91 and its 200 day moving average is $251.48. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $307.71.

Air Products and Chemicals (NYSE:APDGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.70 by $0.15. The company had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $3.05 billion. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. Air Products and Chemicals’s revenue was down 8.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.74 EPS. Equities research analysts expect that Air Products and Chemicals, Inc. will post 12.3 EPS for the current year.

Air Products and Chemicals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 12th. Investors of record on Monday, July 1st will be paid a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Monday, July 1st. Air Products and Chemicals’s payout ratio is currently 63.90%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Citigroup cut their price target on shares of Air Products and Chemicals from $285.00 to $280.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Air Products and Chemicals from $260.00 to $310.00 and gave the stock a “buy” rating in a report on Monday. StockNews.com upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Wednesday, June 5th. Argus cut shares of Air Products and Chemicals from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Finally, Morgan Stanley boosted their price target on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 5th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Air Products and Chemicals presently has a consensus rating of “Hold” and a consensus price target of $287.29.

Read Our Latest Stock Report on APD

About Air Products and Chemicals

(Free Report)

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.

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

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