Sentry Investment Management LLC Reduces Holdings in Air Products and Chemicals, Inc. (APD)

Sentry Investment Management LLC lessened its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 37.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,587 shares of the basic materials company’s stock after selling 5,781 shares during the quarter. Sentry Investment Management LLC’s holdings in Air Products and Chemicals were worth $1,372,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. WFG Advisors LP increased its stake in Air Products and Chemicals by 47.5% in the 2nd quarter. WFG Advisors LP now owns 1,267 shares of the basic materials company’s stock valued at $181,000 after buying an additional 408 shares during the period. Toronto Dominion Bank increased its stake in Air Products and Chemicals by 25.0% in the 2nd quarter. Toronto Dominion Bank now owns 75,764 shares of the basic materials company’s stock valued at $10,837,000 after buying an additional 15,168 shares during the period. WINTON GROUP Ltd acquired a new position in Air Products and Chemicals in the 2nd quarter valued at approximately $1,244,000. Public Employees Retirement System of Ohio increased its stake in Air Products and Chemicals by 10.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 145,815 shares of the basic materials company’s stock valued at $20,860,000 after buying an additional 13,208 shares during the period. Finally, Colony Group LLC acquired a new position in Air Products and Chemicals in the 2nd quarter valued at approximately $205,000. Hedge funds and other institutional investors own 87.87% of the company’s stock.

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Several research analysts have weighed in on the stock. Deutsche Bank AG upped their price objective on shares of Air Products and Chemicals from $160.00 to $168.00 and gave the company a “hold” rating in a research note on Wednesday, August 2nd. Jefferies Group LLC reiterated a “hold” rating and issued a $155.00 price objective on shares of Air Products and Chemicals in a research note on Thursday, September 28th. Barclays PLC reiterated a “buy” rating and issued a $170.00 price objective on shares of Air Products and Chemicals in a research note on Friday, August 4th. UBS AG upgraded shares of Air Products and Chemicals from a “neutral” rating to a “positive” rating in a research note on Wednesday, September 13th. Finally, Vertical Research upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating and set a $146.00 price objective on the stock in a research note on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. Air Products and Chemicals presently has an average rating of “Hold” and an average price target of $157.15.

Shares of Air Products and Chemicals, Inc. (NYSE:APD) traded down 0.36% on Wednesday, hitting $152.92. 90,748 shares of the stock traded hands. The firm has a market capitalization of $33.33 billion, a PE ratio of 11.49 and a beta of 1.26. Air Products and Chemicals, Inc. has a 52 week low of $129.00 and a 52 week high of $154.41. The firm’s 50 day moving average is $149.84 and its 200 day moving average is $144.83.

Air Products and Chemicals (NYSE:APD) last issued its earnings results on Tuesday, August 1st. The basic materials company reported $1.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.06. The business had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.06 billion. Air Products and Chemicals had a net margin of 34.63% and a return on equity of 17.23%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.92 earnings per share. On average, analysts expect that Air Products and Chemicals, Inc. will post $6.23 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Tuesday, October 10th will be issued a dividend of $0.95 per share. The ex-dividend date is Friday, October 6th. This represents a $3.80 dividend on an annualized basis and a yield of 2.48%. Air Products and Chemicals’s payout ratio is 28.51%.

About Air Products and Chemicals

Air Products and Chemicals, Inc, is an industrial gases company. The Company’s Industrial Gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. The Company is also a supplier of liquefied natural gas process technology and equipment.

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

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