Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by SVB Wealth LLC

SVB Wealth LLC lessened its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 15.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 61,487 shares of the basic materials company’s stock after selling 11,277 shares during the quarter. SVB Wealth LLC’s holdings in Air Products and Chemicals were worth $16,835,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Turtle Creek Wealth Advisors LLC acquired a new stake in Air Products and Chemicals in the fourth quarter valued at approximately $27,000. Legacy Bridge LLC acquired a new stake in Air Products and Chemicals in the fourth quarter valued at approximately $35,000. FinTrust Capital Advisors LLC raised its holdings in Air Products and Chemicals by 40.4% in the third quarter. FinTrust Capital Advisors LLC now owns 132 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 38 shares in the last quarter. Artemis Wealth Advisors LLC acquired a new stake in Air Products and Chemicals in the third quarter valued at approximately $39,000. Finally, ICA Group Wealth Management LLC acquired a new stake in Air Products and Chemicals in the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on APD. Seaport Res Ptn cut shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating in a report on Tuesday, February 6th. UBS Group lowered shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and dropped their price target for the company from $328.00 to $241.00 in a research note on Thursday, February 8th. Citigroup increased their price target on shares of Air Products and Chemicals from $260.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. TheStreet lowered shares of Air Products and Chemicals from a “b” rating to a “c+” rating in a research note on Monday, February 5th. Finally, StockNews.com lowered shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Sunday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $276.36.

Air Products and Chemicals Stock Performance

NYSE:APD traded down $2.30 during midday trading on Tuesday, reaching $228.86. The stock had a trading volume of 373,347 shares, compared to its average volume of 1,725,572. The firm has a fifty day simple moving average of $234.91 and a two-hundred day simple moving average of $258.57. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $307.71. The company has a quick ratio of 1.58, a current ratio of 1.81 and a debt-to-equity ratio of 0.74. The stock has a market cap of $50.88 billion, a P/E ratio of 22.06, a P/E/G ratio of 2.55 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data on Monday, February 5th. The basic materials company reported $2.82 earnings per share for the quarter, missing analysts’ consensus estimates of $3.00 by ($0.18). Air Products and Chemicals had a net margin of 18.82% and a return on equity of 16.84%. The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.20 billion. During the same quarter last year, the business earned $2.64 earnings per share. The business’s quarterly revenue was down 5.6% on a year-over-year basis. On average, equities analysts expect that Air Products and Chemicals, Inc. will post 12.38 EPS for the current year.

Air Products and Chemicals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, April 1st will be given a dividend of $1.77 per share. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.75. This represents a $7.08 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Thursday, March 28th. Air Products and Chemicals’s payout ratio is presently 67.56%.

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.