MetLife Investment Advisors LLC lowered its stake in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 2.1% during the second quarter, Holdings Channel reports. The institutional investor owned 64,526 shares of the basic materials company’s stock after selling 1,361 shares during the period. MetLife Investment Advisors LLC’s holdings in Air Products & Chemicals were worth $10,049,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bruderman Asset Management LLC purchased a new position in shares of Air Products & Chemicals during the first quarter worth about $104,000. Mount Yale Investment Advisors LLC purchased a new position in shares of Air Products & Chemicals during the first quarter worth about $114,000. Braun Bostich & Associates Inc. grew its holdings in shares of Air Products & Chemicals by 542.6% during the second quarter. Braun Bostich & Associates Inc. now owns 739 shares of the basic materials company’s stock worth $115,000 after buying an additional 624 shares during the last quarter. Private Capital Group LLC grew its holdings in shares of Air Products & Chemicals by 2,231.4% during the first quarter. Private Capital Group LLC now owns 816 shares of the basic materials company’s stock worth $130,000 after buying an additional 781 shares during the last quarter. Finally, IMS Capital Management purchased a new position in shares of Air Products & Chemicals during the second quarter worth about $146,000. 86.08% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:APD opened at $167.63 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.40 and a quick ratio of 2.24. The stock has a market capitalization of $36.45 billion, a P/E ratio of 26.57, a PEG ratio of 1.38 and a beta of 1.06. Air Products & Chemicals, Inc. has a 52 week low of $148.77 and a 52 week high of $175.17.

Air Products & Chemicals (NYSE:APD) last announced its quarterly earnings data on Thursday, July 26th. The basic materials company reported $1.95 EPS for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.11. Air Products & Chemicals had a net margin of 17.13% and a return on equity of 15.15%. The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the firm earned $1.65 earnings per share. The firm’s revenue was up 6.5% compared to the same quarter last year. sell-side analysts anticipate that Air Products & Chemicals, Inc. will post 7.45 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 12th. Stockholders of record on Monday, October 1st will be given a dividend of $1.10 per share. The ex-dividend date is Friday, September 28th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.62%. Air Products & Chemicals’s payout ratio is 69.73%.

A number of research firms recently issued reports on APD. ValuEngine lowered Air Products & Chemicals from a “buy” rating to a “hold” rating in a report on Tuesday, June 5th. Deutsche Bank raised their price target on Air Products & Chemicals from $190.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday, August 14th. BMO Capital Markets restated a “buy” rating and issued a $197.00 price objective (up previously from $195.00) on shares of Air Products & Chemicals in a research report on Friday, July 27th. Zacks Investment Research upgraded shares of Air Products & Chemicals from a “sell” rating to a “hold” rating and set a $181.00 price objective for the company in a research report on Monday, July 30th. Finally, Citigroup raised their price objective on shares of Air Products & Chemicals from $198.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, July 11th. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $185.69.

About Air Products & Chemicals

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, electronics and performance materials, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including metals, glass, chemical processing, electronics, energy production and refining, food processing, metallurgical, medical, and general manufacturing.

Further Reading: Stop Order

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 & Chemicals, Inc. (NYSE:APD).

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

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