Wedmont Private Capital Sells 581 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Wedmont Private Capital trimmed its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 34.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,082 shares of the basic materials company’s stock after selling 581 shares during the period. Wedmont Private Capital’s holdings in Air Products and Chemicals were worth $259,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Turtle Creek Wealth Advisors LLC bought a new position in shares of Air Products and Chemicals in the fourth quarter worth about $27,000. Roble Belko & Company Inc bought a new position in shares of Air Products and Chemicals in the fourth quarter worth about $27,000. Sachetta LLC bought a new position in shares of Air Products and Chemicals in the fourth quarter worth about $27,000. Security National Bank bought a new position in shares of Air Products and Chemicals in the fourth quarter worth about $27,000. Finally, Transcendent Capital Group LLC bought a new position in shares of Air Products and Chemicals in the fourth quarter worth about $28,000. 81.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on APD. Wolfe Research began coverage on Air Products and Chemicals in a research note on Friday, March 1st. They issued an “outperform” rating and a $279.00 price objective on the stock. Citigroup lowered their price target on Air Products and Chemicals from $285.00 to $280.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. TD Cowen boosted their price target on Air Products and Chemicals from $305.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Morgan Stanley boosted their price target on Air Products and Chemicals from $240.00 to $280.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Air Products and Chemicals from $260.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Air Products and Chemicals currently has a consensus rating of “Hold” and an average target price of $287.29.

Air Products and Chemicals Stock Up 0.3 %

NYSE APD opened at $272.91 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.31 and a debt-to-equity ratio of 0.77. The stock’s 50 day moving average is $256.33 and its two-hundred day moving average is $251.80. The company has a market capitalization of $60.67 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 2.95 and a beta of 0.84. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $307.71.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share for the quarter, beating analysts’ consensus estimates of $2.70 by $0.15. The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $3.05 billion. Air Products and Chemicals had a return on equity of 16.56% and a net margin of 20.32%. The company’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.74 earnings per share. Equities analysts forecast that Air Products and Chemicals, Inc. will post 12.3 earnings per share for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Stockholders of record on Monday, July 1st will be issued a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Monday, July 1st. Air Products and Chemicals’s payout ratio is currently 63.90%.

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.