Massmutual Trust Co. FSB ADV Cuts Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Massmutual Trust Co. FSB ADV cut its position in Air Products and Chemicals, Inc. (NYSE:APD) by 2.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,054 shares of the basic materials company’s stock after selling 363 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Air Products and Chemicals were worth $3,369,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of APD. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Air Products and Chemicals during the fourth quarter worth about $27,000. Roble Belko & Company Inc acquired a new position in shares of Air Products and Chemicals in the fourth quarter worth $27,000. Sachetta LLC acquired a new position in shares of Air Products and Chemicals in the fourth quarter valued at approximately $27,000. Security National Bank acquired a new stake in Air Products and Chemicals in the 4th quarter worth about $27,000. Finally, Thompson Investment Management Inc. acquired a new position in Air Products and Chemicals during the first quarter worth approximately $27,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on APD. StockNews.com upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Friday. TD Cowen lifted their price objective on shares of Air Products and Chemicals from $305.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Morgan Stanley lifted their price objective on shares of 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. Wells Fargo & Company upped their target price on Air Products and Chemicals from $240.00 to $280.00 and gave the company an “overweight” rating in a report on Friday. Finally, Bank of America increased their price target on shares of Air Products and Chemicals from $275.00 to $312.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $296.20.

Air Products and Chemicals Price Performance

Shares of NYSE APD traded down $3.06 during midday trading on Monday, reaching $278.68. 1,110,554 shares of the company traded hands, compared to its average volume of 1,764,689. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.31 and a current ratio of 1.27. The firm has a market cap of $61.95 billion, a PE ratio of 25.30, a PEG ratio of 3.17 and a beta of 0.81. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $307.71. The stock’s 50-day simple moving average is $265.80 and its 200-day simple moving average is $250.06.

Air Products and Chemicals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, October 1st will be given a dividend of $1.77 per share. The ex-dividend date 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 (DPR) is presently 63.90%.

Air Products and Chemicals Company 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.