Securian Asset Management Inc. Has $3.48 Million Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Securian Asset Management Inc. trimmed its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 1.7% in the first quarter, HoldingsChannel reports. The firm owned 11,791 shares of the basic materials company’s stock after selling 200 shares during the period. Securian Asset Management Inc.’s holdings in Air Products and Chemicals were worth $3,477,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of APD. LRI Investments LLC boosted its position in shares of Air Products and Chemicals by 25.5% in the 1st quarter. LRI Investments LLC now owns 3,027 shares of the basic materials company’s stock worth $893,000 after purchasing an additional 616 shares during the last quarter. Marks Group Wealth Management Inc raised its stake in Air Products and Chemicals by 2.9% during the 1st quarter. Marks Group Wealth Management Inc now owns 31,659 shares of the basic materials company’s stock worth $9,337,000 after buying an additional 893 shares during the period. Asset Dedication LLC raised its stake in Air Products and Chemicals by 9.7% during the 1st quarter. Asset Dedication LLC now owns 1,281 shares of the basic materials company’s stock worth $378,000 after buying an additional 113 shares during the period. CWM LLC raised its stake in Air Products and Chemicals by 0.8% during the 1st quarter. CWM LLC now owns 6,822 shares of the basic materials company’s stock worth $2,012,000 after buying an additional 54 shares during the period. Finally, Greatmark Investment Partners Inc. raised its stake in Air Products and Chemicals by 0.8% during the 1st quarter. Greatmark Investment Partners Inc. now owns 14,339 shares of the basic materials company’s stock worth $4,229,000 after buying an additional 116 shares during the period. 81.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on APD. UBS Group lifted their price target on Air Products and Chemicals from $328.00 to $344.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. Citigroup lifted their price target on Air Products and Chemicals from $310.00 to $320.00 and gave the company a “buy” rating in a research note on Monday, June 30th. Morgan Stanley began coverage on Air Products and Chemicals in a research note on Thursday, May 29th. They issued an “equal weight” rating and a $290.00 price target on the stock. Wells Fargo & Company lifted their price target on Air Products and Chemicals from $320.00 to $345.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Royal Bank Of Canada assumed coverage on Air Products and Chemicals in a research report on Friday, June 13th. They issued an “outperform” rating and a $355.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $333.59.

Air Products and Chemicals Trading Down 0.3%

Air Products and Chemicals stock opened at $291.06 on Tuesday. Air Products and Chemicals, Inc. has a 52 week low of $243.69 and a 52 week high of $341.14. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.85 and a current ratio of 1.00. The stock has a market capitalization of $64.77 billion, a P/E ratio of 42.31, a PEG ratio of 5.60 and a beta of 0.85. The stock has a 50-day simple moving average of $279.19 and a 200 day simple moving average of $290.18.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results on Thursday, May 1st. The basic materials company reported $2.69 EPS for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.14). Air Products and Chemicals had a return on equity of 15.48% and a net margin of 12.76%. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the previous year, the business posted $2.85 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. Analysts expect that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date is Tuesday, July 1st. Air Products and Chemicals’s dividend payout ratio is presently 104.07%.

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.