Air Products and Chemicals, Inc. (NYSE:APD) Stock Position Decreased by Brookstone Capital Management

Brookstone Capital Management cut its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 6.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,531 shares of the basic materials company’s stock after selling 312 shares during the quarter. Brookstone Capital Management’s holdings in Air Products and Chemicals were worth $1,098,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Turtle Creek Wealth Advisors LLC bought a new stake in Air Products and Chemicals in the 4th quarter valued at about $27,000. Roble Belko & Company Inc bought a new position in shares of Air Products and Chemicals in the fourth quarter worth $27,000. Sachetta LLC acquired a new position in shares of Air Products and Chemicals during the fourth quarter valued at $27,000. Security National Bank bought a new position in Air Products and Chemicals in the 4th quarter valued at about $27,000. Finally, Transcendent Capital Group LLC bought a new position in shares of Air Products and Chemicals in the fourth quarter valued at approximately $28,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

APD has been the topic of a number of research reports. Morgan Stanley boosted their price objective on Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 5th. Mizuho reduced their price objective on shares of Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Bank of America boosted their target price on shares of Air Products and Chemicals from $275.00 to $312.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Barclays raised their target price on shares of Air Products and Chemicals from $245.00 to $290.00 and gave the stock an “equal weight” rating in a report on Monday, June 10th. Finally, JPMorgan Chase & Co. dropped their price target on Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Air Products and Chemicals presently has an average rating of “Hold” and an average target price of $287.29.

Air Products and Chemicals Stock Down 1.9 %

APD stock opened at $258.05 on Friday. The company has a 50 day moving average of $259.73 and a two-hundred day moving average of $251.83. The company has a market cap of $57.37 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 2.85 and a beta of 0.84. 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 1.31, a current ratio of 1.49 and a debt-to-equity ratio of 0.77.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.15. Air Products and Chemicals had a return on equity of 16.56% and a net margin of 20.32%. The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $3.05 billion. During the same period last year, the company earned $2.74 earnings per share. Air Products and Chemicals’s quarterly revenue was down 8.4% compared to the same quarter last year. On average, equities analysts anticipate 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 company also recently declared a quarterly dividend, which will be paid on Monday, August 12th. Investors of record on Monday, July 1st will be paid a $1.77 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $7.08 annualized dividend and a dividend yield of 2.74%. Air Products and Chemicals’s payout ratio is 63.90%.

Air Products and Chemicals 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.