Regal Wealth Group Inc. lowered its stake in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 25.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 247 shares of the basic materials company’s stock after selling 84 shares during the quarter. Regal Wealth Group Inc.’s holdings in Air Products & Chemicals were worth $47,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of APD. Athena Capital Advisors LLC bought a new position in shares of Air Products & Chemicals in the 4th quarter worth about $28,000. Old North State Trust LLC grew its stake in shares of Air Products & Chemicals by 376.1% in the 4th quarter. Old North State Trust LLC now owns 219 shares of the basic materials company’s stock valued at $35,000 after buying an additional 173 shares during the period. Pinnacle Bank acquired a new stake in shares of Air Products & Chemicals in the 4th quarter valued at about $38,000. Transamerica Financial Advisors Inc. grew its stake in shares of Air Products & Chemicals by 617.6% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 244 shares of the basic materials company’s stock valued at $39,000 after buying an additional 210 shares during the period. Finally, Legacy Financial Advisors Inc. grew its stake in shares of Air Products & Chemicals by 109.0% in the 4th quarter. Legacy Financial Advisors Inc. now owns 255 shares of the basic materials company’s stock valued at $41,000 after buying an additional 133 shares during the period. 87.52% of the stock is currently owned by institutional investors and hedge funds.
Shares of APD stock traded up $0.29 on Wednesday, hitting $197.39. 181,815 shares of the stock traded hands, compared to its average volume of 1,018,617. The company has a market capitalization of $42.59 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 1.82 and a beta of 0.82. Air Products & Chemicals, Inc. has a 52 week low of $148.44 and a 52 week high of $197.33. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.21 and a quick ratio of 2.03.
Air Products & Chemicals (NYSE:APD) last announced its quarterly earnings results on Friday, January 25th. The basic materials company reported $1.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.01). Air Products & Chemicals had a net margin of 18.92% and a return on equity of 15.13%. The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the prior year, the firm posted $1.79 earnings per share. The business’s revenue was up .3% on a year-over-year basis. Equities research analysts expect that Air Products & Chemicals, Inc. will post 8.18 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Monday, April 1st will be paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Friday, March 29th. This is a positive change from Air Products & Chemicals’s previous quarterly dividend of $1.10. Air Products & Chemicals’s payout ratio is 62.28%.
A number of research firms have issued reports on APD. Credit Suisse Group lifted their price target on Air Products & Chemicals from $200.00 to $222.00 and gave the company an “outperform” rating in a research note on Wednesday. Zacks Investment Research cut shares of Air Products & Chemicals from a “buy” rating to a “hold” rating in a research report on Wednesday, January 16th. Bank of America cut shares of Air Products & Chemicals from a “neutral” rating to an “underperform” rating and set a $170.00 target price on the stock. in a research report on Tuesday, January 8th. They noted that the move was a valuation call. BMO Capital Markets lifted their price target on shares of Air Products & Chemicals from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Tuesday, April 9th. Finally, KeyCorp lifted their price target on shares of Air Products & Chemicals from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. One investment analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. Air Products & Chemicals currently has a consensus rating of “Buy” and an average target price of $196.40.
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Air Products & Chemicals Profile
Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.
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