Clearbridge Investments LLC Sells 11,256 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Clearbridge Investments LLC cut its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 1.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,129,717 shares of the basic materials company’s stock after selling 11,256 shares during the quarter. Clearbridge Investments LLC owned approximately 0.51% of Air Products and Chemicals worth $324,466,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of APD. Delta Asset Management LLC TN bought a new position in Air Products and Chemicals during the fourth quarter worth about $28,000. Grey Fox Wealth Advisors LLC bought a new position in Air Products and Chemicals during the fourth quarter worth about $30,000. Sageworth Trust Co bought a new position in Air Products and Chemicals during the first quarter worth about $30,000. Trifecta Capital Advisors LLC increased its position in Air Products and Chemicals by 1,250.0% during the first quarter. Trifecta Capital Advisors LLC now owns 108 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 100 shares during the period. Finally, NewSquare Capital LLC bought a new position in Air Products and Chemicals during the first quarter worth about $32,000. 82.62% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on APD shares. StockNews.com started coverage on shares of Air Products and Chemicals in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Citigroup started coverage on shares of Air Products and Chemicals in a research note on Tuesday, June 13th. They set a “buy” rating and a $317.00 price objective on the stock. Mizuho increased their price objective on shares of Air Products and Chemicals from $322.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Air Products and Chemicals from $340.00 to $325.00 in a research note on Friday, May 12th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Air Products and Chemicals currently has an average rating of “Moderate Buy” and a consensus price target of $318.93.

Air Products and Chemicals Stock Up 0.9 %

NYSE APD traded up $2.53 during mid-day trading on Friday, hitting $298.02. The company’s stock had a trading volume of 520,048 shares, compared to its average volume of 922,912. The company’s 50 day simple moving average is $292.94 and its 200 day simple moving average is $286.46. Air Products and Chemicals, Inc. has a twelve month low of $224.75 and a twelve month high of $328.56. The company has a current ratio of 1.36, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $66.21 billion, a price-to-earnings ratio of 30.33, a PEG ratio of 2.55 and a beta of 0.86.

Air Products and Chemicals (NYSE:APD) last posted its earnings results on Thursday, August 3rd. The basic materials company reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.07. The firm had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.29 billion. Air Products and Chemicals had a net margin of 16.88% and a return on equity of 17.18%. The business’s revenue was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.62 EPS. Analysts anticipate that Air Products and Chemicals, Inc. will post 11.47 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Monday, October 2nd will be paid a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Friday, September 29th. Air Products and Chemicals’s dividend payout ratio is currently 71.21%.

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; 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, manufacturing, electronics, magnetic resonance imaging, energy production, medical, food, and metals.