Crescent Sterling Ltd. Reduces Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Crescent Sterling Ltd. reduced its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 0.5% during the third quarter, Holdings Channel.com reports. The firm owned 8,099 shares of the basic materials company’s stock after selling 39 shares during the quarter. Air Products and Chemicals accounts for approximately 2.3% of Crescent Sterling Ltd.’s holdings, making the stock its 16th largest position. Crescent Sterling Ltd.’s holdings in Air Products and Chemicals were worth $2,411,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of APD. Thompson Investment Management Inc. bought a new position in Air Products and Chemicals in the 1st quarter worth $27,000. Meeder Asset Management Inc. bought a new position in Air Products and Chemicals in the 2nd quarter worth $32,000. Hexagon Capital Partners LLC raised its holdings in Air Products and Chemicals by 2,250.0% in the 1st 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 period. Trifecta Capital Advisors LLC raised its holdings 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 valued at $37,000 after acquiring an additional 136 shares during the period. Finally, OFI Invest Asset Management raised its holdings in Air Products and Chemicals by 104.3% during the first quarter. OFI Invest Asset Management now owns 188 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 96 shares during the period. 81.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on APD shares. Jefferies Financial Group raised Air Products and Chemicals from a “hold” rating to a “buy” rating and raised their price target for the company from $295.00 to $364.00 in a report on Monday, October 7th. Vertical Research raised Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price target on the stock in a report on Monday, October 7th. Citigroup raised their price target on Air Products and Chemicals from $330.00 to $345.00 and gave the company a “buy” rating in a report on Monday, October 7th. JPMorgan Chase & Co. raised their price target on Air Products and Chemicals from $300.00 to $340.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Mizuho lifted their target price on Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $320.24.

Air Products and Chemicals Trading Up 0.9 %

APD opened at $323.23 on Wednesday. The firm has a market cap of $71.86 billion, a P/E ratio of 29.17, a P/E/G ratio of 3.87 and a beta of 0.82. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $324.52. 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 stock has a 50-day moving average of $286.51 and a 200 day moving average of $267.02.

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 the consensus estimate of $3.04 by $0.16. The company had revenue of $2.99 billion during 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%. As a group, research analysts forecast that Air Products and Chemicals, Inc. will post 12.33 EPS for the current year.

Air Products and Chemicals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, October 1st will be given a dividend of $1.77 per share. The ex-dividend date is Tuesday, October 1st. This represents a $7.08 annualized dividend and a dividend yield of 2.19%. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 63.90%.

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.