Palouse Capital Management Inc. Reduces Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Palouse Capital Management Inc. trimmed its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 1.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,785 shares of the basic materials company’s stock after selling 153 shares during the quarter. Air Products and Chemicals makes up 2.2% of Palouse Capital Management Inc.’s investment portfolio, making the stock its 19th largest position. Palouse Capital Management Inc.’s holdings in Air Products and Chemicals were worth $3,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Avantax Advisory Services Inc. increased its stake in shares of Air Products and Chemicals by 151.3% in the first quarter. Avantax Advisory Services Inc. now owns 24,881 shares of the basic materials company’s stock worth $6,028,000 after buying an additional 14,981 shares during the period. 1832 Asset Management L.P. increased its position in shares of Air Products and Chemicals by 3.6% in the first quarter. 1832 Asset Management L.P. now owns 67,507 shares of the basic materials company’s stock valued at $16,355,000 after acquiring an additional 2,321 shares during the period. TD Asset Management Inc increased its position in shares of Air Products and Chemicals by 1.6% in the fourth quarter. TD Asset Management Inc now owns 351,506 shares of the basic materials company’s stock valued at $96,242,000 after acquiring an additional 5,502 shares during the period. Trilogy Capital Inc. bought a new position in shares of Air Products and Chemicals during the first quarter valued at about $2,625,000. Finally, Madison Asset Management LLC boosted its holdings in shares of Air Products and Chemicals by 8.2% during the fourth quarter. Madison Asset Management LLC now owns 126,928 shares of the basic materials company’s stock worth $34,753,000 after purchasing an additional 9,663 shares during the period. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Price Performance

APD stock opened at $287.27 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.27. The firm has a 50 day moving average price of $273.10 and a 200-day moving average price of $258.99. Air Products and Chemicals, Inc. has a 52-week low of $212.24 and a 52-week high of $301.03. The firm has a market capitalization of $63.86 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 3.70 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.16. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.04 billion. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. Equities research analysts forecast that Air Products and Chemicals, Inc. will post 12.32 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, October 1st will be paid a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Tuesday, October 1st. Air Products and Chemicals’s payout ratio is 63.90%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Barclays boosted their price target on Air Products and Chemicals from $290.00 to $295.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. The Goldman Sachs Group upped their target price on Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a report on Monday, August 5th. BMO Capital Markets lifted their price target on shares of Air Products and Chemicals from $300.00 to $323.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Bank of America boosted their price objective on shares of Air Products and Chemicals from $275.00 to $312.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Finally, Morgan Stanley raised their target price on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Air Products and Chemicals currently has a consensus rating of “Hold” and an average price target of $297.40.

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.