Meyer Handelman Co. Decreases Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Meyer Handelman Co. lowered its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 14.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,418 shares of the basic materials company’s stock after selling 5,600 shares during the quarter. Meyer Handelman Co.’s holdings in Air Products and Chemicals were worth $9,652,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in APD. Thompson Investment Management Inc. acquired a new position in Air Products and Chemicals during the first quarter worth about $27,000. Transcendent Capital Group LLC acquired a new stake in shares of Air Products and Chemicals in the 4th quarter worth approximately $28,000. Meeder Asset Management Inc. purchased a new position in Air Products and Chemicals in the 2nd quarter valued at approximately $32,000. Hexagon Capital Partners LLC raised its holdings in Air Products and Chemicals by 2,250.0% during the first quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 135 shares during the last quarter. Finally, Trifecta Capital Advisors LLC boosted its position in Air Products and Chemicals by 1,700.0% during the second quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 136 shares in the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Price Performance

Air Products and Chemicals stock opened at $316.81 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.27. The company has a market cap of $70.43 billion, a price-to-earnings ratio of 27.45, a PEG ratio of 3.87 and a beta of 0.82. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $323.86. The firm has a 50 day moving average price of $284.78 and a 200 day moving average price of $265.55.

Air Products and Chemicals (NYSE:APD) last issued its earnings results 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. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Sell-side analysts predict that Air Products and Chemicals, Inc. will post 12.33 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, October 1st will be issued a $1.77 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $7.08 annualized dividend and a yield of 2.23%. Air Products and Chemicals’s payout ratio is 61.35%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on APD shares. UBS Group raised their price target on Air Products and Chemicals from $276.00 to $281.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. The Goldman Sachs Group lifted their target price 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. JPMorgan Chase & Co. increased their price target on shares of Air Products and Chemicals from $300.00 to $340.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. StockNews.com upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Monday, September 23rd. Finally, Vertical Research upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 target price on the stock in a report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $316.47.

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.