SVB Wealth LLC Lowers Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

SVB Wealth LLC lowered its position in Air Products and Chemicals, Inc. (NYSE:APD) by 15.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,010 shares of the basic materials company’s stock after selling 9,277 shares during the period. SVB Wealth LLC’s holdings in Air Products and Chemicals were worth $12,647,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Research Global Investors boosted its position in Air Products and Chemicals by 62.3% during the first quarter. Capital Research Global Investors now owns 11,230,051 shares of the basic materials company’s stock worth $2,720,704,000 after purchasing an additional 4,309,040 shares during the period. Norges Bank purchased a new stake in shares of Air Products and Chemicals in the fourth quarter worth about $852,288,000. Bank of New York Mellon Corp lifted its holdings in shares of Air Products and Chemicals by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 2,034,818 shares of the basic materials company’s stock worth $525,085,000 after buying an additional 5,140 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of Air Products and Chemicals by 2,931.0% in the second quarter. National Bank of Canada FI now owns 1,796,531 shares of the basic materials company’s stock worth $444,352,000 after buying an additional 1,737,260 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in shares of Air Products and Chemicals by 50.6% in the first quarter. Clearbridge Investments LLC now owns 1,547,202 shares of the basic materials company’s stock worth $374,841,000 after buying an additional 520,179 shares in 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 $4.84 during mid-day trading on Friday, reaching $268.71. The company’s stock had a trading volume of 1,066,164 shares, compared to its average volume of 1,647,773. The firm’s fifty day moving average price is $268.38 and its two-hundred day moving average price is $255.98. The stock has a market cap of $59.74 billion, a P/E ratio of 24.25, a PEG ratio of 3.72 and a beta of 0.81. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $307.71. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.77.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data on Thursday, August 1st. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.16. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.04 billion. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. On average, equities analysts forecast that Air Products and Chemicals, Inc. will post 12.32 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, October 1st will be paid a $1.77 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $7.08 annualized dividend and a yield of 2.63%. Air Products and Chemicals’s payout ratio is 63.90%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Air Products and Chemicals from $300.00 to $340.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft cut shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and cut their price target for the company from $310.00 to $280.00 in a report on Monday, July 22nd. BMO Capital Markets lifted their price target on shares of Air Products and Chemicals from $300.00 to $323.00 and gave the company an “outperform” rating in a report on Monday, August 5th. The Goldman Sachs Group lifted their price target on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Citigroup lifted their price target on shares of Air Products and Chemicals from $280.00 to $305.00 and gave the company a “buy” rating in a report on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price 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.