Cutter & CO Brokerage Inc. Sells 1,402 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Cutter & CO Brokerage Inc. cut its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 10.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,540 shares of the basic materials company’s stock after selling 1,402 shares during the period. Cutter & CO Brokerage Inc.’s holdings in Air Products and Chemicals were worth $2,978,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of APD. GUNN & Co INVESTMENT MANAGEMENT INC. purchased a new stake in shares of Air Products and Chemicals in the fourth quarter valued at $315,000. Cozad Asset Management Inc. lifted its stake in Air Products and Chemicals by 7.8% in the fourth quarter. Cozad Asset Management Inc. now owns 1,404 shares of the basic materials company’s stock worth $384,000 after purchasing an additional 102 shares during the last quarter. Brighton Jones LLC boosted its position in shares of Air Products and Chemicals by 2.7% during the fourth quarter. Brighton Jones LLC now owns 3,406 shares of the basic materials company’s stock valued at $933,000 after buying an additional 88 shares during the period. Savant Capital LLC grew its stake in shares of Air Products and Chemicals by 9.0% during the fourth quarter. Savant Capital LLC now owns 8,579 shares of the basic materials company’s stock valued at $2,349,000 after buying an additional 707 shares during the last quarter. Finally, Brandywine Oak Private Wealth LLC raised its holdings in shares of Air Products and Chemicals by 31.3% in the fourth quarter. Brandywine Oak Private Wealth LLC now owns 1,108 shares of the basic materials company’s stock worth $303,000 after buying an additional 264 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Up 0.6 %

NYSE APD traded up $1.75 during trading on Friday, hitting $278.85. The company’s stock had a trading volume of 919,017 shares, compared to its average volume of 905,509. The business’s 50 day simple moving average is $267.41 and its 200-day simple moving average is $254.46. The company has a market cap of $61.99 billion, a PE ratio of 25.17, a P/E/G ratio of 3.72 and a beta of 0.81. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.10. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $307.71.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results 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. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $3.04 billion. On average, equities analysts anticipate that Air Products and Chemicals, Inc. will post 12.32 EPS for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The company also recently declared 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 of this dividend is Tuesday, October 1st. This represents a $7.08 dividend on an annualized basis and a yield of 2.54%. Air Products and Chemicals’s dividend payout ratio is currently 63.90%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Morgan Stanley upped their price objective on Air Products and Chemicals from $240.00 to $280.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 5th. Wells Fargo & Company upped their price target on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. The Goldman Sachs Group lifted their price objective 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. Barclays upped their target price on shares of Air Products and Chemicals from $290.00 to $295.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Finally, Citigroup boosted their price target on Air Products and Chemicals from $280.00 to $305.00 and gave the company a “buy” rating in a report on Friday, July 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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.