Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Premier Path Wealth Partners LLC

Premier Path Wealth Partners LLC lowered its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 1.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,883 shares of the basic materials company’s stock after selling 58 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Air Products and Chemicals were worth $1,260,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Capital Research Global Investors increased its stake in Air Products and Chemicals by 167.2% during the fourth quarter. Capital Research Global Investors now owns 6,921,011 shares of the basic materials company’s stock worth $1,894,973,000 after acquiring an additional 4,330,471 shares during the last quarter. Norges Bank acquired a new stake in Air Products and Chemicals during the 4th quarter worth approximately $852,288,000. Clearbridge Investments LLC raised its holdings in Air Products and Chemicals by 50.6% in the first quarter. Clearbridge Investments LLC now owns 1,547,202 shares of the basic materials company’s stock valued at $374,841,000 after buying an additional 520,179 shares during the period. Scharf Investments LLC acquired a new position in Air Products and Chemicals during the first quarter valued at approximately $87,173,000. Finally, Nordea Investment Management AB grew its stake in Air Products and Chemicals by 66.1% during the first quarter. Nordea Investment Management AB now owns 860,519 shares of the basic materials company’s stock worth $207,807,000 after buying an additional 342,322 shares during the period. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

APD has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft downgraded shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and cut their target price for the company from $310.00 to $280.00 in a research note on Monday, July 22nd. Barclays boosted their price objective on Air Products and Chemicals from $290.00 to $295.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. StockNews.com raised Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Tuesday. Citigroup raised their target price on Air Products and Chemicals from $280.00 to $305.00 and gave the company a “buy” rating in a report on Friday, July 12th. Finally, UBS Group upped their price target on Air Products and Chemicals from $276.00 to $281.00 and gave the stock a “neutral” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Air Products and Chemicals currently has a consensus rating of “Hold” and an average price target of $297.40.

Air Products and Chemicals Stock Performance

APD stock traded up $1.43 during trading on Friday, hitting $275.86. 513,428 shares of the company’s stock traded hands, compared to its average volume of 1,682,664. The stock has a market capitalization of $61.33 billion, a price-to-earnings ratio of 24.90, a price-to-earnings-growth ratio of 3.17 and a beta of 0.81. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $307.71. The stock has a fifty day moving average price of $266.97 and a two-hundred day moving average price of $252.17. The company has a quick ratio of 1.31, a current ratio of 1.27 and a debt-to-equity ratio of 0.77.

Air Products and Chemicals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, October 1st will be issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Tuesday, October 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 63.90%.

Air Products and Chemicals 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.