New England Research & Management Inc. lowered its holdings in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 17.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,745 shares of the basic materials company's stock after selling 1,610 shares during the period. Air Products and Chemicals makes up 1.1% of New England Research & Management Inc.'s portfolio, making the stock its 28th biggest position. New England Research & Management Inc.'s holdings in Air Products and Chemicals were worth $2,306,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of APD. Campbell & CO Investment Adviser LLC acquired a new position in shares of Air Products and Chemicals in the 4th quarter valued at about $449,000. Vinva Investment Management Ltd lifted its position in Air Products and Chemicals by 61.9% in the 4th quarter. Vinva Investment Management Ltd now owns 1,770 shares of the basic materials company's stock worth $485,000 after buying an additional 677 shares in the last quarter. Security National Bank acquired a new stake in shares of Air Products and Chemicals during the 4th quarter valued at $27,000. Personal CFO Solutions LLC grew its holdings in shares of Air Products and Chemicals by 4.3% during the 4th quarter. Personal CFO Solutions LLC now owns 2,454 shares of the basic materials company's stock valued at $672,000 after acquiring an additional 102 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co raised its holdings in shares of Air Products and Chemicals by 4.3% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 19,395 shares of the basic materials company's stock worth $5,310,000 after acquiring an additional 804 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company's stock.
APD traded up $27.21 during trading on Monday, reaching $312.71. 4,243,129 shares of the company's stock were exchanged, compared to its average volume of 1,627,564. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $313.00. The company has a market capitalization of $69.52 billion, a P/E ratio of 28.22, a PEG ratio of 3.89 and a beta of 0.82. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.77. The business has a 50 day moving average price of $280.67 and a 200 day moving average price of $263.24.
Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.16. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.04 billion. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. As a group, analysts predict that Air Products and Chemicals, Inc. will post 12.33 earnings per share for the current fiscal year.
The company 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. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Tuesday, October 1st. Air Products and Chemicals's dividend payout ratio (DPR) is currently 63.90%.
Several research analysts have weighed in on the company. Wells Fargo & Company upped their target price on Air Products and Chemicals from $240.00 to $280.00 and gave the stock an "overweight" rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. increased 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 note on Friday, August 2nd. BMO Capital Markets raised their price target on shares of Air Products and Chemicals from $300.00 to $323.00 and gave the company an "outperform" rating in a report on Monday, August 5th. Evercore ISI raised shares of Air Products and Chemicals from an "in-line" rating to an "outperform" rating and increased their target price for the stock from $305.00 to $365.00 in a research report on Monday. Finally, StockNews.com raised Air Products and Chemicals from a "sell" rating to a "hold" rating in a research report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $309.18.
View Our Latest Stock Report on 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.
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