Gilman Hill Asset Management LLC Trims Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Gilman Hill Asset Management LLC lessened its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 15.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,232 shares of the basic materials company’s stock after selling 225 shares during the period. Gilman Hill Asset Management LLC’s holdings in Air Products and Chemicals were worth $367,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Transcendent Capital Group LLC purchased a new position in Air Products and Chemicals during the 4th quarter valued at about $28,000. Thompson Investment Management Inc. purchased a new position in shares of Air Products and Chemicals during the 1st quarter worth approximately $27,000. Meeder Asset Management Inc. purchased a new position in shares of Air Products and Chemicals during the 2nd quarter worth approximately $32,000. Hexagon Capital Partners LLC grew its holdings in shares of Air Products and Chemicals by 2,250.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 135 shares during the period. Finally, Trifecta Capital Advisors LLC grew its holdings in shares of Air Products and Chemicals by 1,700.0% during the 2nd quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 136 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Trading Up 0.7 %

Shares of NYSE:APD opened at $316.66 on Monday. Air Products and Chemicals, Inc. has a 52-week low of $212.24 and a 52-week high of $323.86. The stock has a market capitalization of $70.40 billion, a price-to-earnings ratio of 28.58, a PEG ratio of 3.87 and a beta of 0.82. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.27. The stock’s 50-day simple moving average is $284.78 and its two-hundred day simple moving average is $265.90.

Air Products and Chemicals (NYSE:APD) last announced its earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.04 billion. Analysts expect that Air Products and Chemicals, Inc. will post 12.33 EPS for the current year.

Air Products and Chemicals Dividend Announcement

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 given a $1.77 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $7.08 annualized dividend and a yield of 2.24%. Air Products and Chemicals’s payout ratio is presently 63.90%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on APD shares. JPMorgan Chase & Co. upped their target price on Air Products and Chemicals from $300.00 to $340.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. BMO Capital Markets upped their target price on Air Products and Chemicals from $300.00 to $323.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. UBS Group boosted their price target on Air Products and Chemicals from $276.00 to $281.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Vertical Research raised Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price target on the stock in a research report on Monday, October 7th. Finally, Jefferies Financial Group raised Air Products and Chemicals from a “hold” rating to a “buy” rating and boosted their price target for the stock from $295.00 to $364.00 in a research report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $316.47.

Air Products and Chemicals Profile

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.