Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Procyon Advisors LLC

Procyon Advisors LLC decreased its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 4.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,786 shares of the basic materials company’s stock after selling 129 shares during the period. Procyon Advisors LLC’s holdings in Air Products and Chemicals were worth $763,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Legacy Bridge LLC acquired a new stake in Air Products and Chemicals during the fourth quarter worth approximately $35,000. FinTrust Capital Advisors LLC raised its holdings in Air Products and Chemicals by 40.4% during the third quarter. FinTrust Capital Advisors LLC now owns 132 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 38 shares in the last quarter. Artemis Wealth Advisors LLC purchased a new position in shares of Air Products and Chemicals during the third quarter worth approximately $39,000. Fortitude Family Office LLC purchased a new position in shares of Air Products and Chemicals during the fourth quarter worth approximately $42,000. Finally, ICA Group Wealth Management LLC purchased a new position in shares of Air Products and Chemicals during the fourth quarter worth approximately $44,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Price Performance

Shares of NYSE:APD traded up $0.12 during midday trading on Thursday, hitting $241.45. 150,532 shares of the stock were exchanged, compared to its average volume of 1,818,393. The company has a 50 day moving average price of $240.12 and a 200-day moving average price of $264.16. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $307.71. The stock has a market cap of $53.67 billion, a P/E ratio of 23.10, a PEG ratio of 2.62 and a beta of 0.81. The company has a current ratio of 1.81, a quick ratio of 1.58 and a debt-to-equity ratio of 0.74.

Air Products and Chemicals (NYSE:APD) last announced its earnings results on Monday, February 5th. The basic materials company reported $2.82 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($0.18). Air Products and Chemicals had a net margin of 18.82% and a return on equity of 16.84%. The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same period in the previous year, the firm posted $2.64 EPS. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, research analysts forecast that Air Products and Chemicals, Inc. will post 12.38 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Monday, April 1st will be paid a $1.77 dividend. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.75. The ex-dividend date is Thursday, March 28th. This represents a $7.08 annualized dividend and a yield of 2.93%. Air Products and Chemicals’s payout ratio is presently 66.79%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. TD Cowen lowered their target price on shares of Air Products and Chemicals from $345.00 to $305.00 and set an “outperform” rating on the stock in a research report on Friday, February 16th. Mizuho lowered their price objective on shares of Air Products and Chemicals from $304.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, February 6th. Wolfe Research assumed coverage on shares of Air Products and Chemicals in a research report on Friday, March 1st. They issued an “outperform” rating and a $279.00 price objective on the stock. Seaport Res Ptn lowered shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 6th. Finally, TheStreet lowered shares of Air Products and Chemicals from a “b” rating to a “c+” rating in a research report on Monday, February 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $280.29.

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.