Arden Trust Co Lowers Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Arden Trust Co decreased its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 3.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,295 shares of the basic materials company’s stock after selling 40 shares during the period. Arden Trust Co’s holdings in Air Products and Chemicals were worth $334,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Capital Research Global Investors raised its position in Air Products and Chemicals by 62.3% during the first quarter. Capital Research Global Investors now owns 11,230,051 shares of the basic materials company’s stock valued at $2,720,704,000 after purchasing an additional 4,309,040 shares in the last quarter. Norges Bank bought a new stake in shares of Air Products and Chemicals in the 4th quarter valued at about $852,288,000. Raymond James & Associates lifted its stake in shares of Air Products and Chemicals by 8.7% in the 1st quarter. Raymond James & Associates now owns 2,099,419 shares of the basic materials company’s stock valued at $508,626,000 after acquiring an additional 167,800 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Air Products and Chemicals by 3.3% in the 1st quarter. Bank of New York Mellon Corp now owns 2,029,678 shares of the basic materials company’s stock valued at $491,730,000 after acquiring an additional 64,427 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its stake in shares of Air Products and Chemicals by 50.6% in the 1st quarter. Clearbridge Investments LLC now owns 1,547,202 shares of the basic materials company’s stock valued at $374,841,000 after acquiring an additional 520,179 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

APD has been the subject of a number of recent analyst reports. Morgan Stanley upped their price target 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. Deutsche Bank Aktiengesellschaft lowered Air Products and Chemicals from a “buy” rating to a “hold” rating and lowered their price target for the company from $310.00 to $280.00 in a research report on Monday, July 22nd. Citigroup upped their price target on Air Products and Chemicals from $280.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Wells Fargo & Company upped their price target on Air Products and Chemicals from $240.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Mizuho lowered their price target on Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. 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. Based on data from MarketBeat, Air Products and Chemicals has an average rating of “Hold” and an average price target of $296.53.

Air Products and Chemicals Stock Down 0.4 %

APD stock traded down $1.14 during midday trading on Wednesday, hitting $277.42. The company’s stock had a trading volume of 1,167,883 shares, compared to its average volume of 1,754,609. The company has a market cap of $61.67 billion, a PE ratio of 25.14, a P/E/G 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 company has a current ratio of 1.27, a quick ratio of 1.31 and a debt-to-equity ratio of 0.77. The firm’s 50-day moving average is $266.36 and its 200-day moving average is $250.32.

Air Products and Chemicals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Investors 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 2.55%. 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.