DT Investment Partners LLC Decreases Stake in Air Products and Chemicals, Inc. (NYSE:APD)

DT Investment Partners LLC lessened its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 3.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,393 shares of the basic materials company’s stock after selling 56 shares during the quarter. DT Investment Partners LLC’s holdings in Air Products and Chemicals were worth $361,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Air Products and Chemicals in the 4th quarter valued at about $27,000. Rakuten Securities Inc. purchased a new stake in Air Products and Chemicals during the fourth quarter worth approximately $33,000. Legacy Bridge LLC purchased a new stake in Air Products and Chemicals during the fourth quarter worth approximately $35,000. FinTrust Capital Advisors LLC lifted its stake in Air Products and Chemicals by 40.4% during the third quarter. FinTrust Capital Advisors LLC now owns 132 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 38 shares during the last quarter. Finally, Artemis Wealth Advisors LLC purchased a new stake in Air Products and Chemicals during the third quarter worth approximately $39,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on APD. Morgan Stanley decreased their target price on Air Products and Chemicals from $285.00 to $240.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. Argus lowered Air Products and Chemicals from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Citigroup lifted their price target on Air Products and Chemicals from $260.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Wells Fargo & Company lowered Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a research report on Monday, February 5th. Finally, Mizuho cut their price target on Air Products and Chemicals from $304.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, February 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $276.36.

Air Products and Chemicals Price Performance

APD stock traded down $1.38 on Friday, reaching $231.64. 1,797,253 shares of the company’s stock were exchanged, compared to its average volume of 1,214,487. The stock has a fifty day moving average of $235.88 and a 200-day moving average of $257.47. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $307.71. The firm has a market cap of $51.49 billion, a PE ratio of 22.11, a P/E/G ratio of 2.56 and a beta of 0.81. The company has a quick ratio of 1.58, a current ratio of 1.81 and a debt-to-equity ratio of 0.74.

Air Products and Chemicals (NYSE:APD) last announced 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). The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.20 billion. Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. The company’s revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.64 EPS. As a group, equities analysts predict that Air Products and Chemicals, Inc. will post 12.38 EPS for the current fiscal year.

Air Products and Chemicals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, April 1st will be given a $1.77 dividend. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.75. This represents a $7.08 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Thursday, March 28th. Air Products and Chemicals’s dividend payout ratio is currently 67.56%.

About Air Products and Chemicals

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.