Arcadia Investment Management Corp MI Trims Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Arcadia Investment Management Corp MI decreased its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 15.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 31,563 shares of the basic materials company’s stock after selling 5,959 shares during the period. Air Products and Chemicals comprises approximately 1.4% of Arcadia Investment Management Corp MI’s holdings, making the stock its 25th biggest position. Arcadia Investment Management Corp MI’s holdings in Air Products and Chemicals were worth $8,145,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Sachetta LLC purchased a new stake in shares of Air Products and Chemicals during the fourth quarter worth about $27,000. Security National Bank purchased a new stake in shares of Air Products and Chemicals during the fourth quarter worth about $27,000. Thompson Investment Management Inc. purchased a new stake in shares of Air Products and Chemicals during the first quarter worth about $27,000. Transcendent Capital Group LLC purchased a new stake in shares of Air Products and Chemicals during the fourth quarter worth about $28,000. Finally, Hexagon Capital Partners LLC grew its position in shares of Air Products and Chemicals by 2,250.0% during the first quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Down 0.5 %

NYSE APD traded down $1.47 on Friday, reaching $272.08. 115,114 shares of the stock traded hands, compared to its average volume of 1,642,248. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.27. The company has a fifty day moving average price of $268.16 and a 200-day moving average price of $255.69. The company has a market cap of $60.49 billion, a price-to-earnings ratio of 24.68, a PEG ratio of 3.72 and a beta of 0.81. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $307.71.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.16. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.04 billion. As a group, research analysts forecast that Air Products and Chemicals, Inc. will post 12.32 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, October 1st will be issued a $1.77 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.60%. Air Products and Chemicals’s dividend payout ratio is presently 63.90%.

Wall Street Analyst Weigh In

Several research firms have weighed in on APD. Morgan Stanley raised their price target on Air Products and Chemicals from $240.00 to $280.00 and gave the company an “equal weight” rating in a report on Wednesday, June 5th. Wells Fargo & Company raised their price target on Air Products and Chemicals from $240.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Barclays raised their price target on Air Products and Chemicals from $290.00 to $295.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. StockNews.com upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Tuesday, August 20th. Finally, BMO Capital Markets raised their price objective on Air Products and Chemicals from $300.00 to $323.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $297.40.

About Air Products and Chemicals

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.