Valley National Advisers Inc. Decreases Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Valley National Advisers Inc. reduced its stake in Air Products and Chemicals, Inc. (NYSE:APDGet Rating) by 1.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,124 shares of the basic materials company’s stock after selling 100 shares during the quarter. Valley National Advisers Inc.’s holdings in Air Products and Chemicals were worth $1,680,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. McKinley Carter Wealth Services Inc. increased its holdings in Air Products and Chemicals by 6.2% in the 2nd quarter. McKinley Carter Wealth Services Inc. now owns 7,188 shares of the basic materials company’s stock worth $1,729,000 after buying an additional 422 shares during the period. Uncommon Cents Investing LLC increased its holdings in Air Products and Chemicals by 14.3% in the 2nd quarter. Uncommon Cents Investing LLC now owns 2,360 shares of the basic materials company’s stock worth $568,000 after buying an additional 295 shares during the period. HB Wealth Management LLC increased its holdings in Air Products and Chemicals by 297.5% in the 2nd quarter. HB Wealth Management LLC now owns 3,458 shares of the basic materials company’s stock worth $832,000 after buying an additional 2,588 shares during the period. Matrix Asset Advisors Inc. NY acquired a new position in Air Products and Chemicals in the 2nd quarter worth approximately $11,841,000. Finally, Ritholtz Wealth Management increased its holdings in Air Products and Chemicals by 33.7% in the 2nd quarter. Ritholtz Wealth Management now owns 2,072 shares of the basic materials company’s stock worth $498,000 after buying an additional 522 shares during the period. 82.68% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Price Performance

Air Products and Chemicals stock traded down $2.20 during trading on Friday, reaching $236.32. The company had a trading volume of 45,020 shares, compared to its average volume of 827,321. The firm’s 50-day simple moving average is $251.75 and its 200 day simple moving average is $244.40. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.72 and a current ratio of 1.87. The firm has a market capitalization of $52.42 billion, a PE ratio of 22.91, a price-to-earnings-growth ratio of 1.65 and a beta of 0.79. Air Products and Chemicals, Inc. has a 1-year low of $216.24 and a 1-year high of $316.39.

Air Products and Chemicals (NYSE:APDGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The basic materials company reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.61 by $0.01. The company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.02 billion. Air Products and Chemicals had a return on equity of 15.61% and a net margin of 19.08%. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.31 EPS. As a group, equities research analysts anticipate that Air Products and Chemicals, Inc. will post 10.29 earnings per share for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Monday, October 3rd will be issued a $1.62 dividend. The ex-dividend date is Friday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 2.74%. Air Products and Chemicals’s payout ratio is currently 63.16%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on APD shares. Citigroup increased their price target on shares of Air Products and Chemicals to $272.00 in a report on Monday, August 15th. JPMorgan Chase & Co. raised their price objective on shares of Air Products and Chemicals from $275.00 to $295.00 in a research note on Friday, August 5th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Air Products and Chemicals from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. Bank of America dropped their price objective on shares of Air Products and Chemicals from $272.00 to $271.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 13th. Finally, Jefferies Financial Group dropped their price objective on shares of Air Products and Chemicals from $270.00 to $257.00 in a research note on Thursday, June 16th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $292.56.

Air Products and Chemicals Profile

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Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas; specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, manufacturing, food and beverage, electronics, magnetic resonance imaging, energy production and refining, and metals.

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

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