TIAA Trust National Association Trims Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

TIAA Trust National Association trimmed its position in Air Products and Chemicals, Inc. (NYSE:APDFree Report) by 4.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,479 shares of the basic materials company’s stock after selling 936 shares during the quarter. TIAA Trust National Association’s holdings in Air Products and Chemicals were worth $5,060,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legacy Bridge LLC purchased a new stake in Air Products and Chemicals in the 4th quarter worth approximately $35,000. FinTrust Capital Advisors LLC increased its holdings in Air Products and Chemicals by 40.4% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 132 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 38 shares in the last quarter. Artemis Wealth Advisors LLC purchased a new stake in Air Products and Chemicals in the 3rd quarter worth approximately $39,000. ICA Group Wealth Management LLC bought a new position in Air Products and Chemicals in the 4th quarter worth approximately $44,000. Finally, Fortitude Family Office LLC bought a new position in Air Products and Chemicals in the 4th quarter worth approximately $42,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Down 1.5 %

Shares of APD opened at $239.84 on Wednesday. The company has a market cap of $53.32 billion, a PE ratio of 22.89, a P/E/G ratio of 2.67 and a beta of 0.81. The business has a fifty day moving average of $238.71 and a 200 day moving average of $262.45. 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 quick ratio of 1.58, a current ratio of 1.81 and a debt-to-equity ratio of 0.74.

Air Products and Chemicals (NYSE:APDGet Free Report) last issued its quarterly earnings results on Monday, February 5th. The basic materials company reported $2.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.00 by ($0.18). The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.20 billion. Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.64 earnings per share. On average, sell-side analysts expect that Air Products and Chemicals, Inc. will post 12.38 EPS for the current year.

Air Products and Chemicals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, April 1st will be paid a $1.77 dividend. This is a positive change 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 dividend on an annualized basis and a yield of 2.95%. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 67.56%.

Analysts Set New Price Targets

Several research firms have weighed in on APD. Bank of America upgraded Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $264.00 price target for the company in a research note on Thursday, February 15th. Wolfe Research began coverage on Air Products and Chemicals in a research note on Friday, March 1st. They issued an “outperform” rating and a $279.00 price target for the company. TheStreet downgraded Air Products and Chemicals from a “b” rating to a “c+” rating in a research note on Monday, February 5th. UBS Group downgraded Air Products and Chemicals from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $328.00 to $241.00 in a research note on Thursday, February 8th. Finally, StockNews.com downgraded Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, March 29th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Air Products and Chemicals has a consensus rating of “Hold” and an average price target of $280.29.

Read Our Latest Stock Report on Air Products and Chemicals

About Air Products and Chemicals

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Air Products and Chemicals (NYSE:APD)

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