Appleton Partners Inc. MA Cuts Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Appleton Partners Inc. MA lessened its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 17.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 851 shares of the basic materials company’s stock after selling 182 shares during the quarter. Appleton Partners Inc. MA’s holdings in Air Products and Chemicals were worth $220,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Cape Investment Advisory Inc. grew its stake in Air Products and Chemicals by 1.0% in the 1st 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 in the last quarter. Venture Visionary Partners LLC grew its holdings in Air Products and Chemicals by 1.5% in the 4th quarter. Venture Visionary Partners LLC now owns 2,907 shares of the basic materials company’s stock worth $796,000 after acquiring an additional 43 shares during the last quarter. Applied Capital LLC FL grew its holdings in Air Products and Chemicals by 2.0% in the 4th quarter. Applied Capital LLC FL now owns 2,223 shares of the basic materials company’s stock worth $609,000 after acquiring an additional 43 shares during the last quarter. Mycio Wealth Partners LLC grew its holdings in Air Products and Chemicals by 0.6% in the 4th quarter. Mycio Wealth Partners LLC now owns 7,044 shares of the basic materials company’s stock worth $1,929,000 after acquiring an additional 44 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. grew its holdings in Air Products and Chemicals by 4.2% in the 1st quarter. Wetzel Investment Advisors Inc. now owns 1,104 shares of the basic materials company’s stock worth $257,000 after acquiring an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

NYSE APD traded down $5.73 during trading hours on Friday, hitting $281.74. 1,832,140 shares of the company’s stock traded hands, compared to its average volume of 1,710,808. The company has a current ratio of 1.27, a quick ratio of 1.31 and a debt-to-equity ratio of 0.77. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $307.71. The firm has a market capitalization of $62.63 billion, a P/E ratio of 25.43, a P/E/G ratio of 3.17 and a beta of 0.81. The business’s fifty day moving average price is $265.80 and its two-hundred day moving average price is $250.13.

Air Products and Chemicals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, October 1st will be issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.51%. The ex-dividend date is Tuesday, October 1st. Air Products and Chemicals’s dividend payout ratio is currently 63.90%.

Wall Street Analyst Weigh In

APD has been the subject of several research analyst reports. Citigroup raised their target price on shares of Air Products and Chemicals from $280.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Deutsche Bank Aktiengesellschaft cut shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and dropped their target price for the stock from $310.00 to $280.00 in a research report on Monday, July 22nd. JPMorgan Chase & Co. lifted 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. Mizuho lowered their price target on shares of Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Finally, TD Cowen lifted their price target on shares of Air Products and Chemicals from $305.00 to $320.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Air Products and Chemicals has a consensus rating of “Hold” and a consensus target price of $292.14.

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.