Norway Savings Bank Reduces Position in Air Products and Chemicals, Inc. (NYSE:APD)

Norway Savings Bank reduced its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 13.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,797 shares of the basic materials company’s stock after selling 288 shares during the period. Norway Savings Bank’s holdings in Air Products and Chemicals were worth $435,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Creative Financial Designs Inc. ADV grew its holdings in shares of Air Products and Chemicals by 1.1% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 3,636 shares of the basic materials company’s stock worth $996,000 after purchasing an additional 38 shares during the last quarter. Venture Visionary Partners LLC grew its stake in Air Products and Chemicals by 1.5% during the 4th quarter. Venture Visionary Partners LLC now owns 2,907 shares of the basic materials company’s stock worth $796,000 after buying an additional 43 shares during the last quarter. Applied Capital LLC FL grew its stake in Air Products and Chemicals by 2.0% during the 4th quarter. Applied Capital LLC FL now owns 2,223 shares of the basic materials company’s stock worth $609,000 after buying an additional 43 shares during the last quarter. Mycio Wealth Partners LLC grew its stake in Air Products and Chemicals by 0.6% during the 4th quarter. Mycio Wealth Partners LLC now owns 7,044 shares of the basic materials company’s stock worth $1,929,000 after buying an additional 44 shares during the last quarter. Finally, Werlinich Asset Management LLC increased its position in Air Products and Chemicals by 3.0% during the fourth quarter. Werlinich Asset Management LLC now owns 1,563 shares of the basic materials company’s stock worth $431,000 after buying an additional 45 shares during the period. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. 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 research report on Monday, June 10th. BMO Capital Markets raised their price objective on shares of Air Products and Chemicals from $276.00 to $294.00 and gave the stock an “outperform” rating in a research report on Monday, June 10th. TD Cowen raised their price target on Air Products and Chemicals from $305.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Citigroup dropped 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 report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. decreased their price objective on Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating for the company in a research 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 given a buy rating to the company’s stock. According to MarketBeat, Air Products and Chemicals has a consensus rating of “Hold” and a consensus target price of $287.29.

Air Products and Chemicals Stock Performance

Shares of APD opened at $258.05 on Friday. 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, Inc. has a 52-week low of $212.24 and a 52-week high of $307.71. The company has a 50-day simple moving average of $259.73 and a 200-day simple moving average of $251.83. The company has a market capitalization of $57.37 billion, a PE ratio of 23.29, a P/E/G ratio of 2.85 and a beta of 0.84.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.70 by $0.15. The company had revenue of $2.93 billion during 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 company’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period last year, the firm earned $2.74 EPS. Equities research analysts predict that Air Products and Chemicals, Inc. will post 12.3 earnings per share for the current fiscal year.

Air Products and Chemicals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 12th. Stockholders of record on Monday, July 1st will be given a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Monday, July 1st. Air Products and Chemicals’s dividend payout ratio is currently 63.90%.

Air Products and Chemicals Company 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.