CIBC Asset Management Inc Sells 1,740 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

CIBC Asset Management Inc lessened its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 4.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,026 shares of the basic materials company’s stock after selling 1,740 shares during the period. CIBC Asset Management Inc’s holdings in Air Products and Chemicals were worth $9,297,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Capital Research Global Investors boosted its stake in shares of Air Products and Chemicals by 167.2% in the fourth quarter. Capital Research Global Investors now owns 6,921,011 shares of the basic materials company’s stock valued at $1,894,973,000 after buying an additional 4,330,471 shares during the period. Norges Bank bought a new stake in shares of Air Products and Chemicals in the fourth quarter valued at approximately $852,288,000. Clearbridge Investments LLC raised its position in Air Products and Chemicals by 50.6% during the first quarter. Clearbridge Investments LLC now owns 1,547,202 shares of the basic materials company’s stock valued at $374,841,000 after purchasing an additional 520,179 shares in the last quarter. Scharf Investments LLC acquired a new position in Air Products and Chemicals during the first quarter valued at approximately $87,173,000. Finally, Nordea Investment Management AB raised its position in Air Products and Chemicals by 66.1% during the first quarter. Nordea Investment Management AB now owns 860,519 shares of the basic materials company’s stock valued at $207,807,000 after purchasing an additional 342,322 shares in the last quarter. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Down 1.3 %

Shares of NYSE:APD opened at $275.19 on Wednesday. The firm has a market cap of $61.18 billion, a P/E ratio of 24.84, a P/E/G ratio of 3.72 and a beta of 0.81. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.77. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $307.71. The business has a fifty day simple moving average of $267.73 and a 200 day simple moving average of $255.43.

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, topping the consensus estimate of $3.04 by $0.16. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.04 billion. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. Analysts predict that Air Products and Chemicals, Inc. will post 12.32 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The business also recently announced 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. This represents a $7.08 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend is Tuesday, October 1st. Air Products and Chemicals’s dividend payout ratio is currently 63.90%.

Wall Street Analysts Forecast Growth

APD has been the subject of several research analyst reports. The Goldman Sachs Group boosted 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 research report on Monday, August 5th. Morgan Stanley boosted their price objective on shares of 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. UBS Group boosted their price objective on shares of Air Products and Chemicals from $276.00 to $281.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft downgraded shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and lowered their price objective for the company from $310.00 to $280.00 in a research report on Monday, July 22nd. Finally, Bank of America boosted their price objective on shares of Air Products and Chemicals from $275.00 to $312.00 and gave the company a “buy” rating in a research report on Monday, June 10th. One equities research 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $297.40.

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.