SVB Wealth LLC Reduces Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

SVB Wealth LLC decreased its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 15.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,010 shares of the basic materials company’s stock after selling 9,277 shares during the quarter. SVB Wealth LLC’s holdings in Air Products and Chemicals were worth $12,647,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in APD. Cape Investment Advisory Inc. lifted its holdings in Air Products and Chemicals by 1.0% during the 1st quarter. Cape Investment Advisory Inc. now owns 3,740 shares of the basic materials company’s stock worth $906,000 after buying an additional 37 shares during the last quarter. First Citizens Bank & Trust Co. lifted its stake in shares of Air Products and Chemicals by 0.4% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 10,906 shares of the basic materials company’s stock worth $2,814,000 after purchasing an additional 39 shares during the period. Verdence Capital Advisors LLC lifted its stake in shares of Air Products and Chemicals by 2.3% during the 2nd quarter. Verdence Capital Advisors LLC now owns 1,763 shares of the basic materials company’s stock worth $455,000 after purchasing an additional 39 shares during the period. Stokes Family Office LLC lifted its stake in shares of Air Products and Chemicals by 3.4% during the 2nd quarter. Stokes Family Office LLC now owns 1,213 shares of the basic materials company’s stock worth $313,000 after purchasing an additional 40 shares during the period. Finally, Legacy Capital Group California Inc. lifted its stake in shares of Air Products and Chemicals by 1.0% during the 2nd quarter. Legacy Capital Group California Inc. now owns 3,984 shares of the basic materials company’s stock worth $1,028,000 after purchasing an additional 41 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Down 1.8 %

APD traded down $4.84 during trading hours on Friday, hitting $268.71. 1,066,164 shares of the company’s stock were exchanged, compared to its average volume of 1,647,773. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $307.71. The stock’s 50-day moving average is $268.38 and its two-hundred day moving average is $255.98. The stock has a market cap of $59.74 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 3.72 and a beta of 0.81. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.77.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings data on Thursday, August 1st. The basic materials company reported $3.20 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.16. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $3.04 billion. Sell-side analysts predict that Air Products and Chemicals, Inc. will post 12.32 earnings per share for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, October 1st will be given a dividend of $1.77 per share. The ex-dividend date is Tuesday, October 1st. This represents a $7.08 annualized dividend and a yield of 2.63%. Air Products and Chemicals’s dividend payout ratio is presently 63.90%.

Wall Street Analysts Forecast Growth

APD has been the topic of several research analyst reports. UBS Group increased their price target on shares of Air Products and Chemicals from $276.00 to $281.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Morgan Stanley raised their price objective on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 5th. JPMorgan Chase & Co. lifted their price target on shares of Air Products and Chemicals from $300.00 to $340.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. StockNews.com lowered shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday. Finally, The Goldman Sachs Group lifted their price target on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Air Products and Chemicals has a consensus rating of “Hold” and an average target price of $297.40.

Air Products and Chemicals Company Profile

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.