Air Products and Chemicals, Inc. $APD Stock Sold by Profund Advisors LLC

Profund Advisors LLC trimmed its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 33.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,875 shares of the basic materials company’s stock after selling 2,435 shares during the quarter. Profund Advisors LLC’s holdings in Air Products and Chemicals were worth $1,356,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp lifted its stake in shares of Air Products and Chemicals by 277.4% during the 2nd quarter. State Street Corp now owns 38,161,451 shares of the basic materials company’s stock valued at $10,597,451,000 after buying an additional 28,050,956 shares in the last quarter. BlackRock Inc. bought a new position in shares of Air Products and Chemicals in the second quarter worth about $5,370,093,000. Bank of America Corp DE bought a new position in shares of Air Products and Chemicals in the second quarter worth about $1,216,976,000. Envestnet Asset Management Inc. grew its position in shares of Air Products and Chemicals by 326.7% during the second quarter. Envestnet Asset Management Inc. now owns 3,348,573 shares of the basic materials company’s stock worth $927,010,000 after purchasing an additional 2,563,873 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Air Products and Chemicals in the second quarter worth $495,201,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Price Performance

APD opened at $315.48 on Tuesday. The company has a market capitalization of $70.25 billion, a price-to-earnings ratio of -1,433.98, a PEG ratio of 2.89 and a beta of 0.76. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.01. Air Products and Chemicals, Inc. has a 12-month low of $229.11 and a 12-month high of $319.98. The business’s fifty day simple moving average is $294.46 and its 200-day simple moving average is $289.98.

Air Products and Chemicals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 8th. Stockholders of record on Monday, January 4th will be given a $1.81 dividend. The ex-dividend date of this dividend is Monday, January 4th. This represents a $7.24 dividend on an annualized basis and a dividend yield of 2.3%. Air Products and Chemicals’s dividend payout ratio (DPR) is presently -3,290.91%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on APD shares. Argus lifted their target price on Air Products and Chemicals from $316.00 to $329.00 and gave the stock a “buy” rating in a report on Wednesday, September 9th. Morgan Stanley set a $320.00 price target on Air Products and Chemicals in a research note on Monday, August 3rd. Barclays initiated coverage on Air Products and Chemicals in a report on Monday, October 12th. They set an “overweight” rating and a $353.00 price target for the company. Weiss Ratings upgraded Air Products and Chemicals from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, October 27th. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $373.00 target price on shares of Air Products and Chemicals in a report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $333.88.

Air Products and Chemicals Company Profile

Air Products and Chemicals, Inc is a global industrial gas and related equipment company serving customers in industries such as refining, chemicals, manufacturing, metals, electronics, food and beverage, healthcare, and energy. The company supplies atmospheric gases, including oxygen, nitrogen and argon, as well as hydrogen, helium, carbon dioxide, specialty gases and other industrial gases.

Air Products produces and distributes gases through pipelines, on-site facilities, bulk deliveries and packaged-gas systems.