Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ reduced its position in Air Products and Chemicals, Inc. (NYSE:APD) by 64.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,745 shares of the basic materials company’s stock after selling 82,400 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Air Products and Chemicals were worth $11,804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Security National Bank purchased a new stake in shares of Air Products and Chemicals during the 4th quarter worth about $27,000. Thompson Investment Management Inc. purchased a new position in Air Products and Chemicals during the first quarter worth approximately $27,000. Transcendent Capital Group LLC acquired a new stake in Air Products and Chemicals in the fourth quarter valued at approximately $28,000. Meeder Asset Management Inc. purchased a new stake in shares of Air Products and Chemicals in the second quarter valued at approximately $32,000. Finally, Hexagon Capital Partners LLC raised its stake in shares of Air Products and Chemicals by 2,250.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company’s stock worth $34,000 after buying an additional 135 shares during the period. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Price Performance

Shares of APD stock opened at $287.98 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.10. The company has a market capitalization of $64.02 billion, a PE ratio of 25.99, a price-to-earnings-growth ratio of 3.70 and a beta of 0.81. The firm’s 50-day moving average is $274.23 and its two-hundred day moving average is $259.67. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $296.00.

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, 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 net margin of 21.24% and a return on equity of 16.53%. Analysts predict that Air Products and Chemicals, Inc. will post 12.32 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Investors 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 payout ratio is 63.90%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Morgan Stanley boosted 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. The Goldman Sachs Group upped 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 research report on Monday, August 5th. Wells Fargo & Company boosted their price objective on Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Citigroup raised their target price on Air Products and Chemicals from $280.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Finally, StockNews.com cut Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Air Products and Chemicals currently has an average rating of “Hold” and a consensus price target of $297.40.

About Air Products and Chemicals

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.