Edgestream Partners L.P. Sells 16,053 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Edgestream Partners L.P. trimmed its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 68.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,373 shares of the basic materials company’s stock after selling 16,053 shares during the period. Edgestream Partners L.P.’s holdings in Air Products and Chemicals were worth $1,903,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sachetta LLC bought a new position in shares of Air Products and Chemicals during the 4th quarter worth $27,000. Security National Bank purchased a new stake in Air Products and Chemicals during the fourth quarter valued at about $27,000. Thompson Investment Management Inc. bought a new position in Air Products and Chemicals during the first quarter worth about $27,000. Transcendent Capital Group LLC purchased a new position in shares of Air Products and Chemicals in the fourth quarter worth about $28,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Air Products and Chemicals in the second quarter valued at approximately $32,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Trading Up 0.1 %

NYSE APD opened at $287.72 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.77. The stock’s 50-day simple moving average is $273.70 and its two-hundred day simple moving average is $259.19. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $301.03. The company has a market capitalization of $63.96 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 3.70 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data on Thursday, August 1st. The basic materials company reported $3.20 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.16. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. Research analysts forecast that Air Products and Chemicals, Inc. will post 12.32 EPS 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 given a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date is Tuesday, October 1st. Air Products and Chemicals’s payout ratio is presently 63.90%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. UBS Group lifted their price objective on shares of Air Products and Chemicals from $276.00 to $281.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Bank of America lifted their price target on Air Products and Chemicals from $275.00 to $312.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Morgan Stanley increased their price objective on Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 5th. StockNews.com lowered Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, September 6th. Finally, Wells Fargo & Company increased their price target on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Air Products and Chemicals currently has a consensus rating of “Hold” and a consensus target price of $297.40.

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; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.