Burke & Herbert Bank & Trust Co. Sells 132 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Burke & Herbert Bank & Trust Co. trimmed its position in Air Products and Chemicals, Inc. (NYSE:APD) by 14.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 785 shares of the basic materials company’s stock after selling 132 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in Air Products and Chemicals were worth $235,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. BlackRock Inc. grew its position in Air Products and Chemicals by 0.7% during the first quarter. BlackRock Inc. now owns 14,595,383 shares of the basic materials company’s stock valued at $4,191,940,000 after buying an additional 104,973 shares during the period. Bank of America Corp DE grew its position in shares of Air Products and Chemicals by 3.7% during the 1st quarter. Bank of America Corp DE now owns 6,654,402 shares of the basic materials company’s stock valued at $1,911,211,000 after acquiring an additional 239,381 shares during the period. Morgan Stanley increased its stake in shares of Air Products and Chemicals by 26.0% in the 4th quarter. Morgan Stanley now owns 5,414,008 shares of the basic materials company’s stock worth $1,668,923,000 after purchasing an additional 1,115,729 shares in the last quarter. Geode Capital Management LLC raised its holdings in Air Products and Chemicals by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 4,168,703 shares of the basic materials company’s stock worth $1,283,417,000 after purchasing an additional 94,630 shares during the period. Finally, Wells Fargo & Company MN lifted its position in Air Products and Chemicals by 0.3% during the fourth quarter. Wells Fargo & Company MN now owns 4,098,226 shares of the basic materials company’s stock valued at $1,263,319,000 after purchasing an additional 13,001 shares in the last quarter. 82.62% of the stock is currently owned by institutional investors.

Air Products and Chemicals Price Performance

NYSE APD traded down $1.27 on Monday, reaching $300.84. The company had a trading volume of 150,650 shares, compared to its average volume of 907,479. The firm’s 50 day moving average price is $294.36 and its 200 day moving average price is $287.74. Air Products and Chemicals, Inc. has a 12 month low of $224.75 and a 12 month high of $328.56. The stock has a market capitalization of $66.83 billion, a PE ratio of 30.63, a price-to-earnings-growth ratio of 2.61 and a beta of 0.87. The company has a quick ratio of 1.19, a current ratio of 1.36 and a debt-to-equity ratio of 0.56.

Air Products and Chemicals (NYSE:APD) last issued 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. Air Products and Chemicals had a return on equity of 17.18% and a net margin of 16.88%. The firm had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.29 billion. During the same period in the previous year, the firm posted $2.62 earnings per share. The business’s revenue was down 4.9% compared to the same quarter last year. As a group, equities analysts predict that Air Products and Chemicals, Inc. will post 11.47 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Monday, October 2nd will be given a dividend of $1.75 per share. The ex-dividend date of this dividend is Friday, September 29th. This represents a $7.00 annualized dividend and a yield of 2.33%. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 71.21%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on APD shares. Citigroup initiated coverage on Air Products and Chemicals in a research report on Tuesday, June 13th. They issued a “buy” rating and a $317.00 price target for the company. StockNews.com initiated coverage on shares of Air Products and Chemicals in a report on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Mizuho lifted their price target on shares of Air Products and Chemicals from $322.00 to $330.00 and gave the company a “buy” rating in a report on Friday, August 4th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Air Products and Chemicals has an average rating of “Moderate Buy” and a consensus price target of $318.93.

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.