Intech Investment Management LLC Has $28.15 Million Position in Air Products and Chemicals, Inc. (NYSE:APD)

Intech Investment Management LLC reduced its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 25.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,095 shares of the basic materials company’s stock after selling 37,145 shares during the quarter. Intech Investment Management LLC’s holdings in Air Products and Chemicals were worth $28,152,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Avantax Advisory Services Inc. raised its stake in Air Products and Chemicals by 151.3% during the first quarter. Avantax Advisory Services Inc. now owns 24,881 shares of the basic materials company’s stock worth $6,028,000 after acquiring an additional 14,981 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in shares of Air Products and Chemicals by 3.6% during the first quarter. 1832 Asset Management L.P. now owns 67,507 shares of the basic materials company’s stock worth $16,355,000 after purchasing an additional 2,321 shares during the last quarter. TD Asset Management Inc grew its holdings in shares of Air Products and Chemicals by 1.6% during the fourth quarter. TD Asset Management Inc now owns 351,506 shares of the basic materials company’s stock worth $96,242,000 after purchasing an additional 5,502 shares during the last quarter. Trilogy Capital Inc. bought a new stake in shares of Air Products and Chemicals during the first quarter worth $2,625,000. Finally, Madison Asset Management LLC grew its holdings in shares of Air Products and Chemicals by 8.2% during the fourth quarter. Madison Asset Management LLC now owns 126,928 shares of the basic materials company’s stock worth $34,753,000 after purchasing an additional 9,663 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

APD has been the topic of several research analyst reports. Morgan Stanley increased their target price 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. JPMorgan Chase & Co. increased their target price on Air Products and Chemicals from $300.00 to $340.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. UBS Group increased their target price on Air Products and Chemicals from $276.00 to $281.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Barclays raised their price target on Air Products and Chemicals from $290.00 to $295.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Finally, Wells Fargo & Company raised their price target on 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 investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $297.40.

Air Products and Chemicals Trading Up 0.1 %

NYSE:APD opened at $287.72 on Friday. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $301.03. The business’s 50-day moving average price is $273.70 and its two-hundred day moving average price is $259.19. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.77. The firm 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 released its quarterly earnings results on Thursday, August 1st. The basic materials company reported $3.20 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.16. The company 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, equities analysts expect that Air Products and Chemicals, Inc. will post 12.32 earnings per share for the current 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 dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis 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 is currently 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.