Air Products and Chemicals, Inc. (APD) Stake Lowered by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC lowered its position in Air Products and Chemicals, Inc. (NYSE:APD) by 42.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,591 shares of the basic materials company’s stock after selling 33,077 shares during the period. Douglas Lane & Associates LLC’s holdings in Air Products and Chemicals were worth $6,522,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. iAB Financial Bank purchased a new stake in shares of Air Products and Chemicals during the first quarter worth $100,000. Patten Group Inc. increased its stake in shares of 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 worth $105,000 after buying an additional 28 shares during the period. State of Alaska Department of Revenue purchased a new stake in shares of Air Products and Chemicals during the first quarter worth $109,000. Guardian Life Insurance Co. of America increased its stake in shares of 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 worth $113,000 after buying an additional 6 shares during the period. Finally, Webster Bank N. A. increased its stake in shares of 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 worth $115,000 after buying an additional 345 shares during the period. 89.27% of the stock is owned by institutional investors.

Air Products and Chemicals, Inc. (NYSE APD) opened at 143.90 on Thursday. The company’s 50-day moving average is $144.49 and its 200-day moving average is $141.85. The firm has a market capitalization of $31.33 billion, a PE ratio of 9.95 and a beta of 1.26. Air Products and Chemicals, Inc. has a 52-week low of $129.00 and a 52-week high of $150.45.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Thursday, April 27th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.05. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.84 billion. Air Products and Chemicals had a net margin of 36.19% and a return on equity of 19.26%. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.82 EPS. Analysts forecast that Air Products and Chemicals, Inc. will post $6.16 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Tuesday, October 10th will be issued a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Friday, October 6th. Air Products and Chemicals’s dividend payout ratio is 26.28%.

COPYRIGHT VIOLATION NOTICE: This article was first posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this article on another publication, it was stolen and reposted in violation of US and international copyright law. The original version of this article can be viewed at https://sportsperspectives.com/2017/07/27/air-products-and-chemicals-inc-apd-stake-lowered-by-douglas-lane-associates-llc.html.

A number of brokerages have recently weighed in on APD. Jefferies Group LLC reaffirmed a “hold” rating and set a $155.00 price target on shares of Air Products and Chemicals in a report on Friday, July 14th. Zacks Investment Research downgraded shares of Air Products and Chemicals from a “buy” rating to a “hold” rating in a report on Monday, May 1st. BidaskClub downgraded shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Finally, Deutsche Bank AG raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and upped their price target for the stock from $148.00 to $160.00 in a report on Monday, May 1st. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. Air Products and Chemicals presently has an average rating of “Hold” and a consensus price target of $152.85.

Air Products and Chemicals Company Profile

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.

Want to see what other hedge funds are holding APD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Air Products and Chemicals, Inc. (NYSE:APD).

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

Receive News & Ratings for Air Products and Chemicals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Air Products and Chemicals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply