Maple Capital Management Inc. cut its stake in Air Products & Chemicals, Inc. (NYSE:APD) by 30.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,273 shares of the basic materials company’s stock after selling 3,220 shares during the period. Maple Capital Management Inc.’s holdings in Air Products & Chemicals were worth $1,133,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. FDx Advisors Inc. increased its holdings in Air Products & Chemicals by 24.7% during the first quarter. FDx Advisors Inc. now owns 5,388 shares of the basic materials company’s stock valued at $857,000 after buying an additional 1,066 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in Air Products & Chemicals by 19.9% during the first quarter. Daiwa Securities Group Inc. now owns 7,999 shares of the basic materials company’s stock valued at $1,272,000 after buying an additional 1,326 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its holdings in Air Products & Chemicals by 33.8% during the first quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 74,472 shares of the basic materials company’s stock valued at $11,730,000 after buying an additional 18,795 shares during the last quarter. Dupont Capital Management Corp increased its holdings in Air Products & Chemicals by 84.6% during the first quarter. Dupont Capital Management Corp now owns 3,534 shares of the basic materials company’s stock valued at $562,000 after buying an additional 1,620 shares during the last quarter. Finally, Westport Asset Management Inc. increased its holdings in Air Products & Chemicals by 125.0% during the first quarter. Westport Asset Management Inc. now owns 1,800 shares of the basic materials company’s stock valued at $286,000 after buying an additional 1,000 shares during the last quarter. 87.00% of the stock is owned by institutional investors and hedge funds.

APD opened at $164.68 on Friday. The company has a market capitalization of $34.62 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 1.31 and a beta of 1.09. Air Products & Chemicals, Inc. has a 1-year low of $143.79 and a 1-year high of $175.17. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.40 and a quick ratio of 2.24.

Air Products & Chemicals (NYSE:APD) last posted its quarterly earnings results on Thursday, July 26th. The basic materials company reported $1.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.84 by $0.11. Air Products & Chemicals had a net margin of 17.13% and a return on equity of 15.15%. The business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period in the prior year, the business posted $1.65 earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. equities research analysts anticipate that Air Products & Chemicals, Inc. will post 7.45 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 12th. Investors of record on Monday, October 1st will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, September 28th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.67%. Air Products & Chemicals’s dividend payout ratio is 69.73%.

APD has been the subject of a number of research reports. Credit Suisse Group set a $181.00 target price on shares of Air Products & Chemicals and gave the company a “hold” rating in a report on Thursday, April 26th. Citigroup upped their target price on shares of Air Products & Chemicals from $185.00 to $198.00 and gave the company a “buy” rating in a report on Monday, April 30th. Zacks Investment Research raised shares of Air Products & Chemicals from a “sell” rating to a “hold” rating in a report on Monday, April 30th. ValuEngine lowered shares of Air Products & Chemicals from a “buy” rating to a “hold” rating in a research report on Tuesday, June 5th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Air Products & Chemicals from $172.00 to $170.00 and set an “overweight” rating for the company in a research report on Friday, July 27th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $183.47.

Air Products & Chemicals Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, electronics and performance materials, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including metals, glass, chemical processing, electronics, energy production and refining, food processing, metallurgical, medical, and general manufacturing.

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Institutional Ownership by Quarter for Air Products & Chemicals (NYSE:APD)

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