Brookstone Capital Management Has $970,000 Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Brookstone Capital Management cut its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APDGet Rating) by 6.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,179 shares of the basic materials company’s stock after selling 285 shares during the quarter. Brookstone Capital Management’s holdings in Air Products and Chemicals were worth $970,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. AIA Group Ltd boosted its position in Air Products and Chemicals by 75.3% during the 1st quarter. AIA Group Ltd now owns 333 shares of the basic materials company’s stock worth $83,000 after acquiring an additional 143 shares during the period. First Affirmative Financial Network raised its stake in shares of Air Products and Chemicals by 5.5% during the 1st quarter. First Affirmative Financial Network now owns 2,022 shares of the basic materials company’s stock worth $505,000 after purchasing an additional 106 shares in the last quarter. TFG Advisers LLC raised its stake in shares of Air Products and Chemicals by 11.1% during the 1st quarter. TFG Advisers LLC now owns 903 shares of the basic materials company’s stock worth $226,000 after purchasing an additional 90 shares in the last quarter. Mutual of America Capital Management LLC raised its stake in shares of Air Products and Chemicals by 1.2% during the 1st quarter. Mutual of America Capital Management LLC now owns 29,590 shares of the basic materials company’s stock worth $7,395,000 after purchasing an additional 362 shares in the last quarter. Finally, 1ST Source Bank raised its stake in shares of Air Products and Chemicals by 0.7% during the 1st quarter. 1ST Source Bank now owns 10,056 shares of the basic materials company’s stock worth $2,513,000 after purchasing an additional 71 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Cowen cut their price target on Air Products and Chemicals from $345.00 to $305.00 in a research note on Tuesday, July 19th. Citigroup raised their price objective on Air Products and Chemicals to $272.00 in a research note on Monday, August 15th. JPMorgan Chase & Co. raised their price objective on Air Products and Chemicals from $275.00 to $295.00 in a research note on Friday, August 5th. Atlantic Securities raised Air Products and Chemicals from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $280.00 to $290.00 in a research note on Wednesday, May 25th. Finally, Cowen cut their price objective on Air Products and Chemicals from $345.00 to $305.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 19th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Air Products and Chemicals has a consensus rating of “Moderate Buy” and an average price target of $292.56.

Air Products and Chemicals Price Performance

Shares of NYSE:APD opened at $241.46 on Thursday. The business’s 50 day moving average is $251.42 and its 200-day moving average is $244.28. The company has a current ratio of 1.87, a quick ratio of 1.72 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $53.56 billion, a PE ratio of 23.53, a PEG ratio of 1.70 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 results on Thursday, August 4th. The basic materials company reported $2.62 EPS for the quarter, beating the consensus estimate of $2.61 by $0.01. The business 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%. Air Products and Chemicals’s quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.31 EPS. Sell-side analysts predict that Air Products and Chemicals, Inc. will post 10.29 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 14th. Stockholders of record on Monday, October 3rd will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.68%. Air Products and Chemicals’s payout ratio is currently 63.16%.

About Air Products and Chemicals

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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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