Azzad Asset Management Inc. ADV Cuts Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Azzad Asset Management Inc. ADV lessened its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 1.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 8,596 shares of the basic materials company’s stock after selling 162 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Air Products and Chemicals were worth $2,083,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC purchased a new position in Air Products and Chemicals in the fourth quarter valued at about $27,000. Roble Belko & Company Inc purchased a new position in Air Products and Chemicals in the fourth quarter valued at about $27,000. Sachetta LLC purchased a new position in Air Products and Chemicals in the fourth quarter valued at about $27,000. Security National Bank purchased a new position in Air Products and Chemicals in the fourth quarter valued at about $27,000. Finally, Transcendent Capital Group LLC purchased a new position in Air Products and Chemicals in the fourth quarter valued at about $28,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on APD shares. Citigroup cut their target price on Air Products and Chemicals from $285.00 to $280.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. JPMorgan Chase & Co. lowered their price target on Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. BMO Capital Markets raised their price target on Air Products and Chemicals from $276.00 to $294.00 and gave the stock an “outperform” rating in a report on Monday, June 10th. StockNews.com raised Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Saturday, June 29th. Finally, Mizuho lowered their price target on Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $287.29.

Air Products and Chemicals Trading Up 0.8 %

Shares of NYSE:APD opened at $253.00 on Thursday. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $307.71. The company has a market capitalization of $56.24 billion, a PE ratio of 22.83, a PEG ratio of 2.80 and a beta of 0.81. The business has a 50 day moving average of $260.32 and a two-hundred day moving average of $251.40. The company has a current ratio of 1.49, a quick ratio of 1.31 and a debt-to-equity ratio of 0.77.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.70 by $0.15. Air Products and Chemicals had a return on equity of 16.56% and a net margin of 20.32%. The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the previous year, the company posted $2.74 earnings per share. Air Products and Chemicals’s revenue for the quarter was down 8.4% on a year-over-year basis. As a group, analysts forecast that Air Products and Chemicals, Inc. will post 12.3 EPS for the current year.

Air Products and Chemicals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 12th. Shareholders of record on Monday, July 1st will be issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Monday, July 1st. Air Products and Chemicals’s payout ratio 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.