King Luther Capital Management Corp Sells 88,898 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

King Luther Capital Management Corp lowered its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 37.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 145,376 shares of the basic materials company’s stock after selling 88,898 shares during the period. King Luther Capital Management Corp owned about 0.07% of Air Products and Chemicals worth $37,514,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Cape Investment Advisory Inc. raised its stake in Air Products and Chemicals by 1.0% during the first quarter. Cape Investment Advisory Inc. now owns 3,740 shares of the basic materials company’s stock worth $906,000 after buying an additional 37 shares during the last quarter. First Citizens Bank & Trust Co. grew its holdings in Air Products and Chemicals by 0.4% in the second quarter. First Citizens Bank & Trust Co. now owns 10,906 shares of the basic materials company’s stock worth $2,814,000 after purchasing an additional 39 shares during the period. Verdence Capital Advisors LLC grew its holdings in Air Products and Chemicals by 2.3% in the second quarter. Verdence Capital Advisors LLC now owns 1,763 shares of the basic materials company’s stock worth $455,000 after purchasing an additional 39 shares during the period. Stokes Family Office LLC grew its holdings in Air Products and Chemicals by 3.4% in the second quarter. Stokes Family Office LLC now owns 1,213 shares of the basic materials company’s stock worth $313,000 after purchasing an additional 40 shares during the period. Finally, Invesco LLC grew its holdings in Air Products and Chemicals by 2.6% in the second quarter. Invesco LLC now owns 1,581 shares of the basic materials company’s stock worth $408,000 after purchasing an additional 40 shares during the period. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Up 0.1 %

Air Products and Chemicals stock opened at $287.72 on Friday. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $301.03. The stock has a market cap of $63.96 billion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 3.70 and a beta of 0.81. The firm’s 50-day simple moving average is $273.70 and its 200 day simple moving average is $259.19. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.27.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data on Thursday, August 1st. The basic materials company reported $3.20 EPS for the quarter, topping the consensus estimate of $3.04 by $0.16. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $3.04 billion. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. Research analysts predict that Air Products and Chemicals, Inc. will post 12.32 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, October 1st will be given a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Tuesday, October 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 63.90%.

Analyst Upgrades and Downgrades

APD has been the subject of a number of research reports. BMO Capital Markets raised their price target on shares of Air Products and Chemicals from $300.00 to $323.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. The Goldman Sachs Group raised their price target on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, August 5th. JPMorgan Chase & Co. raised their price target on shares of Air Products and Chemicals from $300.00 to $340.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Morgan Stanley raised their price target on shares of 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. Finally, Wells Fargo & Company lifted their price objective on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Air Products and Chemicals currently has a consensus rating of “Hold” and an average price target of $297.40.

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.