Core Alternative Capital Trims Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Core Alternative Capital lowered its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 12.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,518 shares of the basic materials company's stock after selling 3,536 shares during the period. Core Alternative Capital's holdings in Air Products and Chemicals were worth $6,303,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Security National Bank acquired a new stake in Air Products and Chemicals during the 4th quarter worth $27,000. Thompson Investment Management Inc. bought a new position in shares of Air Products and Chemicals during the first quarter worth $27,000. Transcendent Capital Group LLC bought a new position in shares of Air Products and Chemicals during the fourth quarter worth $28,000. Meeder Asset Management Inc. bought a new position in shares of Air Products and Chemicals during the second quarter worth $32,000. Finally, Hexagon Capital Partners LLC boosted its position in shares of Air Products and Chemicals by 2,250.0% during the first quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company's stock worth $34,000 after purchasing an additional 135 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company's stock.

Air Products and Chemicals Stock Down 0.9 %

Shares of Air Products and Chemicals stock traded down $2.62 during trading hours on Monday, reaching $297.74. The company's stock had a trading volume of 1,021,250 shares, compared to its average volume of 1,624,225. Air Products and Chemicals, Inc. has a one year low of $212.24 and a one year high of $302.03. The company has a market capitalization of $66.19 billion, a P/E ratio of 27.11, a P/E/G ratio of 3.89 and a beta of 0.82. The stock's fifty day simple moving average is $277.35 and its two-hundred day simple moving average is $261.59. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.27.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share for the quarter, beating analysts' consensus estimates of $3.04 by $0.16. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $3.04 billion. On average, research analysts forecast that Air Products and Chemicals, Inc. will post 12.33 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, October 1st will be issued a dividend of $1.77 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $7.08 dividend on an annualized basis and a yield of 2.38%. Air Products and Chemicals's dividend payout ratio (DPR) is presently 63.90%.

Wall Street Analysts Forecast Growth

APD has been the topic of several recent research reports. Wells Fargo & Company lifted their price target on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the company an "overweight" rating in a research note on Friday, August 2nd. Citigroup upped their price target on shares of Air Products and Chemicals from $280.00 to $305.00 and gave the company a "buy" rating in a research note on Friday, July 12th. Morgan Stanley upped their price target on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the company an "equal weight" rating in a research note on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft lowered shares of Air Products and Chemicals from a "buy" rating to a "hold" rating and decreased their price target for the company from $310.00 to $280.00 in a research note on Monday, July 22nd. Finally, StockNews.com raised shares of Air Products and Chemicals from a "sell" rating to a "hold" rating in a report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $296.50.

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.