LPL Financial LLC Reduces Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

LPL Financial LLC cut its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 24.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 304,428 shares of the basic materials company’s stock after selling 97,842 shares during the period. LPL Financial LLC’s holdings in Air Products and Chemicals were worth $78,558,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in APD. Capital Research Global Investors lifted its holdings in Air Products and Chemicals by 167.2% in the fourth quarter. Capital Research Global Investors now owns 6,921,011 shares of the basic materials company’s stock valued at $1,894,973,000 after acquiring an additional 4,330,471 shares during the last quarter. Norges Bank acquired a new position in Air Products and Chemicals in the fourth quarter valued at approximately $852,288,000. National Bank of Canada FI lifted its holdings in Air Products and Chemicals by 2,931.0% in the second quarter. National Bank of Canada FI now owns 1,796,531 shares of the basic materials company’s stock valued at $444,352,000 after acquiring an additional 1,737,260 shares during the last quarter. Clearbridge Investments LLC lifted 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 acquiring an additional 520,179 shares during the last quarter. Finally, Scharf Investments LLC acquired a new position in Air Products and Chemicals in the first quarter valued at approximately $87,173,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Morgan Stanley upped their price target on Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft cut Air Products and Chemicals from a “buy” rating to a “hold” rating and decreased their price target for the stock from $310.00 to $280.00 in a research note on Monday, July 22nd. Citigroup upped their price target on Air Products and Chemicals from $280.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. The Goldman Sachs Group upped their price target on Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, BMO Capital Markets upped their price target on Air Products and Chemicals from $300.00 to $323.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Air Products and Chemicals presently has an average rating of “Hold” and a consensus price target of $297.40.

Air Products and Chemicals Stock Performance

NYSE:APD opened at $284.20 on Friday. The firm has a market capitalization of $63.18 billion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 3.70 and a beta of 0.82. The business’s fifty day moving average price is $271.06 and its 200 day moving average price is $257.66. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.10. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $307.71.

Air Products and Chemicals (NYSE:APD) last posted its earnings results on Thursday, August 1st. The basic materials company reported $3.20 EPS for the quarter, beating the consensus estimate of $3.04 by $0.16. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $3.04 billion. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. On average, sell-side analysts anticipate that Air Products and Chemicals, Inc. will post 12.32 earnings per share for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, October 1st will be issued a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.49%. 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.