Ballentine Partners LLC owns $1.40 million in Air Products and Chemicals, Inc. (NYSE:APD)

Ballentine Partners LLC reduced its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD – Free Report) by 6.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,404 shares of the basic materials company’s stock after selling 357 shares during the period. Ballentine Partners LLC’s holdings in Air Products and Chemicals were worth $1,395,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Caprock Group LLC increased its position in Air Products and Chemicals by 31.5% during the 2nd quarter. Caprock Group LLC now owns 6,175 shares of the basic materials company’s stock worth $1,594,000 after buying another 1,479 shares in the last quarter. Anchor Capital Advisors LLC lifted its position in shares of Air Products and Chemicals by 28.3% in the second quarter. Anchor Capital Advisors LLC now owns 57,183 shares of the basic materials company’s stock worth $14,756,000 after purchasing an additional 12,608 shares in the last quarter. Certuity LLC boosted its holdings in shares of Air Products and Chemicals by 7.0% in the second quarter. Certuity LLC now owns 3,884 shares of the basic materials company’s stock valued at $1,002,000 after purchasing an additional 254 shares in the last quarter. Acadian Asset Management LLC boosted its position in Air Products and Chemicals by 127.6% in the second quarter. Acadian Asset Management LLC now owns 7,529 shares of the basic materials company’s stock worth $1,940,000 after purchasing an additional 4,221 shares in the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in Air Products and Chemicals in the second quarter worth $2,600,000. Institutional investors and hedge funds own 81.66% of the company’s shares.

Analysts on Wall Street are forecasting an increase

A number of research analysts have issued reports on the stock. BMO Capital Markets boosted their target price on shares of Air Products and Chemicals from $300.00 to $323.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. UBS Group lifted their price objective on shares of Air Products and Chemicals from $276.00 to $281.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Goldman Sachs Group upped their target price on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Morgan Stanley lifted their price objective on Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 5th. Finally, Bank of America boosted their price target on Air Products and Chemicals from $275.00 to $312.00 and gave the company a “buy” rating in a research note on Monday, 10 June. Two equities research 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’s stock. The company currently has an average rating of “Hold” and an average target price of $297.40, according to MarketBeat.com.

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Inventories of air products and chemicals fell 1.8%

Air Products and Chemicals stock opened at $268.71 on Monday. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $307.71. The company has a quick ratio of 1.10, a current ratio of 1.27, and a debt-to-equity ratio of 0.77. The company has a 50-day moving average of $268.38 and a 200-day moving average of $256.37. The stock has a market cap of $59.74 billion, a PE ratio of 24.25, a price-to-earnings-growth ratio of 3.72 and a beta of 0.82.

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

Air and Chemical Dividend Announcement

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

Air Products and Chemicals Company Profile

(Free report)

Air Products and Chemicals, Inc provides atmospheric, process and specialty gases, equipment and related services in the Americas, Asia, Europe, 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 synthesis gas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, power generation, medical, food and metals.

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