Milestone Asset Management LLC Cuts Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Milestone Asset Management LLC trimmed its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APDFree Report) by 6.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,237 shares of the basic materials company’s stock after selling 158 shares during the period. Air Products and Chemicals accounts for about 0.2% of Milestone Asset Management LLC’s holdings, making the stock its 28th biggest holding. Milestone Asset Management LLC’s holdings in Air Products and Chemicals were worth $612,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp lifted its position in shares of Air Products and Chemicals by 3.3% in the 2nd quarter. State Street Corp now owns 9,693,186 shares of the basic materials company’s stock worth $2,920,175,000 after buying an additional 307,468 shares during the last quarter. Morgan Stanley lifted its stake in Air Products and Chemicals by 26.0% during the fourth quarter. Morgan Stanley now owns 5,414,008 shares of the basic materials company’s stock valued at $1,668,923,000 after buying an additional 1,115,729 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Air Products and Chemicals by 0.9% in the second quarter. Wells Fargo & Company MN now owns 4,163,043 shares of the basic materials company’s stock worth $1,246,957,000 after buying an additional 38,283 shares during the period. Northern Trust Corp grew its position in Air Products and Chemicals by 1.0% during the 3rd quarter. Northern Trust Corp now owns 3,829,919 shares of the basic materials company’s stock worth $1,085,399,000 after purchasing an additional 39,215 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Air Products and Chemicals in the 4th quarter valued at about $962,356,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on APD. TD Cowen dropped their price target on shares of Air Products and Chemicals from $345.00 to $305.00 and set an “outperform” rating on the stock in a research note on Friday, February 16th. JPMorgan Chase & Co. cut their price target on Air Products and Chemicals from $295.00 to $270.00 and set an “overweight” rating for the company in a research note on Tuesday, February 6th. Argus cut Air Products and Chemicals from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Bank of America upgraded shares of Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $264.00 target price for the company in a research note on Thursday, February 15th. Finally, Barclays reduced their price objective on shares of Air Products and Chemicals from $260.00 to $245.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $280.29.

Check Out Our Latest Stock Analysis on APD

Air Products and Chemicals Stock Down 0.1 %

Shares of APD traded down $0.24 during mid-day trading on Wednesday, hitting $239.60. 1,008,388 shares of the company’s stock were exchanged, compared to its average volume of 1,799,116. The company has a 50-day simple moving average of $238.24 and a 200 day simple moving average of $262.01. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.81 and a quick ratio of 1.58. The company has a market cap of $53.26 billion, a PE ratio of 22.90, a P/E/G ratio of 2.68 and a beta of 0.81. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $307.71.

Air Products and Chemicals (NYSE:APDGet Free Report) last announced its quarterly earnings data on Monday, February 5th. The basic materials company reported $2.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.00 by ($0.18). The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.20 billion. Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.64 EPS. On average, research analysts forecast that Air Products and Chemicals, Inc. will post 12.38 earnings per share for the current fiscal year.

Air Products and Chemicals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, April 1st will be issued a $1.77 dividend. The ex-dividend date is Thursday, March 28th. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.75. This represents a $7.08 annualized dividend and a yield of 2.95%. Air Products and Chemicals’s payout ratio is currently 67.56%.

About Air Products and Chemicals

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding APD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Air Products and Chemicals, Inc. (NYSE:APDFree Report).

Institutional Ownership by Quarter for Air Products and Chemicals (NYSE:APD)

Receive News & Ratings for Air Products and Chemicals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Air Products and Chemicals and related companies with MarketBeat.com's FREE daily email newsletter.