Lake Street Private Wealth LLC Sells 403 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Lake Street Private Wealth LLC decreased its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 30.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 931 shares of the basic materials company’s stock after selling 403 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Air Products and Chemicals were worth $226,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Turtle Creek Wealth Advisors LLC bought a new position in Air Products and Chemicals during the 4th quarter worth approximately $27,000. Roble Belko & Company Inc bought a new position in Air Products and Chemicals during the 4th quarter worth approximately $27,000. Sachetta LLC bought a new position in Air Products and Chemicals during the 4th quarter worth approximately $27,000. Security National Bank bought a new position in Air Products and Chemicals during the 4th quarter worth approximately $27,000. Finally, Thompson Investment Management Inc. bought a new position in Air Products and Chemicals during the 1st quarter worth approximately $27,000. Institutional investors own 81.66% of the company’s stock.

Analyst Upgrades and Downgrades

APD has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. StockNews.com raised shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Saturday, June 29th. Mizuho cut their price target on shares of Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. BMO Capital Markets lifted their price target on shares of Air Products and Chemicals from $276.00 to $294.00 and gave the company an “outperform” rating in a research note on Monday, June 10th. Finally, Morgan Stanley lifted their price target on shares of 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $287.29.

Air Products and Chemicals Price Performance

Shares of APD opened at $253.00 on Friday. The company has a market cap of $56.24 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 2.72 and a beta of 0.81. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $307.71. The company’s fifty day simple moving average is $260.69 and its 200 day simple moving average is $251.41. The company has a current ratio of 1.49, a quick ratio of 1.31 and a debt-to-equity ratio of 0.77.

Air Products and Chemicals (NYSE:APD) last issued its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.70 by $0.15. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $3.05 billion. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.74 earnings per share. On average, research 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 company also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Investors of record on Monday, July 1st will be issued a dividend of $1.77 per share. The ex-dividend date is Monday, July 1st. This represents a $7.08 dividend on an annualized basis and a yield of 2.80%. Air Products and Chemicals’s payout ratio is 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.