Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by ZRC Wealth Management LLC

ZRC Wealth Management LLC decreased its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 52.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 137 shares of the basic materials company’s stock after selling 150 shares during the quarter. ZRC Wealth Management LLC’s holdings in Air Products and Chemicals were worth $33,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital Research Global Investors raised its holdings in shares of Air Products and Chemicals by 167.2% during the fourth quarter. Capital Research Global Investors now owns 6,921,011 shares of the basic materials company’s stock valued at $1,894,973,000 after acquiring an additional 4,330,471 shares during the last quarter. Morgan Stanley raised its stake in Air Products and Chemicals by 4.6% in the 3rd quarter. Morgan Stanley now owns 5,302,455 shares of the basic materials company’s stock valued at $1,502,717,000 after purchasing an additional 235,037 shares during the last quarter. Norges Bank purchased a new position in Air Products and Chemicals in the 4th quarter valued at $852,288,000. Raymond James & Associates boosted its stake in Air Products and Chemicals by 3.6% during the 4th quarter. Raymond James & Associates now owns 1,931,619 shares of the basic materials company’s stock worth $528,877,000 after purchasing an additional 66,906 shares during the last quarter. Finally, Stifel Financial Corp grew its holdings in shares of Air Products and Chemicals by 12.6% during the fourth quarter. Stifel Financial Corp now owns 1,508,625 shares of the basic materials company’s stock worth $413,078,000 after buying an additional 168,959 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Citigroup lowered their price target on shares of 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. Morgan Stanley upped 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 report on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft lifted their price objective on Air Products and Chemicals from $260.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. JPMorgan Chase & Co. dropped their target price on Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Finally, Barclays lifted their price target on 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. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $287.29.

Air Products and Chemicals Stock Up 0.8 %

Air Products and Chemicals stock opened at $253.00 on Friday. The company has a market capitalization of $56.24 billion, a PE ratio of 22.83, a price-to-earnings-growth ratio of 2.74 and a beta of 0.81. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.31 and a current ratio of 1.49. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $307.71. The firm has a 50 day moving average price of $261.05 and a 200 day moving average price of $251.42.

Air Products and Chemicals (NYSE:APD) last issued 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 business had revenue of $2.93 billion during the quarter, compared to analysts’ expectations 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 revenue was down 8.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.74 earnings per share. Research analysts expect that Air Products and Chemicals, Inc. will post 12.3 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The firm 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 dividend of $1.77 per share. The ex-dividend date is Monday, July 1st. This represents a $7.08 annualized dividend and a dividend yield of 2.80%. Air Products and Chemicals’s dividend payout ratio is presently 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.