Ferguson Wellman Capital Management Inc. Sells 133 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Ferguson Wellman Capital Management Inc. cut its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 4.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,620 shares of the basic materials company’s stock after selling 133 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Air Products and Chemicals were worth $375,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in APD. iAB Financial Bank acquired a new position in Air Products and Chemicals during the first quarter valued at $100,000. Patten Group Inc. increased its position in Air Products and Chemicals by 3.7% in the first quarter. Patten Group Inc. now owns 778 shares of the basic materials company’s stock valued at $105,000 after buying an additional 28 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in Air Products and Chemicals during the first quarter valued at $109,000. Guardian Life Insurance Co. of America increased its position in Air Products and Chemicals by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 838 shares of the basic materials company’s stock valued at $113,000 after buying an additional 6 shares during the last quarter. Finally, Webster Bank N. A. increased its position in Air Products and Chemicals by 68.2% in the first quarter. Webster Bank N. A. now owns 851 shares of the basic materials company’s stock valued at $115,000 after buying an additional 345 shares during the last quarter. 88.75% of the stock is owned by institutional investors.

Air Products and Chemicals, Inc. (APD) traded up 0.15% during mid-day trading on Friday, reaching $145.76. The company had a trading volume of 1,402,444 shares. The stock has a 50 day moving average of $145.17 and a 200 day moving average of $141.94. Air Products and Chemicals, Inc. has a 52 week low of $129.00 and a 52 week high of $150.45. The stock has a market capitalization of $31.77 billion, a price-to-earnings ratio of 10.95 and a beta of 1.25.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $1.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.06. Air Products and Chemicals had a return on equity of 17.23% and a net margin of 34.63%. The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the prior year, the company posted $1.92 EPS. The company’s quarterly revenue was up 10.8% on a year-over-year basis. Analysts anticipate that Air Products and Chemicals, Inc. will post $6.23 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Stockholders of record on Tuesday, October 10th will be paid a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Friday, October 6th. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 28.51%.

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APD has been the subject of a number of research reports. Deutsche Bank AG upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and increased their target price for the company from $148.00 to $160.00 in a research report on Monday, May 1st. Zacks Investment Research downgraded Air Products and Chemicals from a “buy” rating to a “hold” rating in a research report on Monday, May 1st. BidaskClub downgraded Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Jefferies Group LLC reiterated a “hold” rating and set a $155.00 target price on shares of Air Products and Chemicals in a research report on Tuesday, May 2nd. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $158.00 target price (up from $153.00) on shares of Air Products and Chemicals in a research report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $152.77.

About Air Products and Chemicals

Air Products and Chemicals, Inc, is an industrial gases company. The Company’s Industrial Gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. The Company is also a supplier of liquefied natural gas process technology and equipment.

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

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