Levin Capital Strategies L.P. Has $1.68 Million Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Levin Capital Strategies L.P. decreased its position in Air Products and Chemicals, Inc. (NYSE:APD) by 3.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 5,707 shares of the basic materials company’s stock after selling 230 shares during the period. Levin Capital Strategies L.P.’s holdings in Air Products and Chemicals were worth $1,683,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in APD. Mantle Ridge LP acquired a new stake in shares of Air Products and Chemicals in the fourth quarter worth $1,191,344,000. Bank of America Corp DE lifted its stake in Air Products and Chemicals by 129.4% in the 4th quarter. Bank of America Corp DE now owns 5,429,147 shares of the basic materials company’s stock worth $1,574,670,000 after acquiring an additional 3,062,157 shares in the last quarter. Capital International Investors acquired a new stake in Air Products and Chemicals during the 4th quarter worth about $436,636,000. GAMMA Investing LLC boosted its position in Air Products and Chemicals by 31,752.0% during the 1st quarter. GAMMA Investing LLC now owns 1,249,871 shares of the basic materials company’s stock worth $368,612,000 after acquiring an additional 1,245,947 shares during the period. Finally, Principal Financial Group Inc. grew its stake in Air Products and Chemicals by 159.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,725,762 shares of the basic materials company’s stock valued at $508,962,000 after acquiring an additional 1,059,970 shares in the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Trading Up 1.9%

Air Products and Chemicals stock opened at $287.00 on Tuesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.29 and a quick ratio of 1.12. The company has a market capitalization of $63.87 billion, a price-to-earnings ratio of 41.30, a PEG ratio of 5.41 and a beta of 0.81. Air Products and Chemicals, Inc. has a one year low of $243.69 and a one year high of $341.14. The company’s fifty day moving average price is $285.39 and its two-hundred day moving average price is $290.00.

Air Products and Chemicals (NYSE:APD) last posted its earnings results on Thursday, July 31st. The basic materials company reported $3.09 EPS for the quarter, topping the consensus estimate of $2.99 by $0.10. The firm had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.95 billion. Air Products and Chemicals had a net margin of 12.86% and a return on equity of 15.11%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the business posted $3.20 earnings per share. On average, analysts forecast that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Wednesday, October 1st will be given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, October 1st. Air Products and Chemicals’s dividend payout ratio is presently 103.02%.

Analyst Upgrades and Downgrades

APD has been the subject of a number of research analyst reports. Citigroup increased their price target on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the stock a “buy” rating in a research report on Monday, June 30th. Bank of America downgraded shares of Air Products and Chemicals from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $330.00 to $282.00 in a research report on Tuesday, April 15th. Morgan Stanley initiated coverage on shares of Air Products and Chemicals in a report on Thursday, May 29th. They set an “equal weight” rating and a $290.00 price target on the stock. Barclays dropped their price target on shares of Air Products and Chemicals from $355.00 to $325.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Finally, Royal Bank Of Canada initiated coverage on Air Products and Chemicals in a research report on Friday, June 13th. They set an “outperform” rating and a $355.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $334.75.

Air Products and Chemicals 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.