Western Wealth Management LLC Lowers Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Western Wealth Management LLC decreased its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 6.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,491 shares of the basic materials company’s stock after selling 473 shares during the period. Western Wealth Management LLC’s holdings in Air Products and Chemicals were worth $1,777,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of APD. Dover Advisors LLC raised its holdings in shares of Air Products and Chemicals by 1.9% during the third quarter. Dover Advisors LLC now owns 1,894 shares of the basic materials company’s stock worth $540,000 after purchasing an additional 35 shares during the last quarter. Smithfield Trust Co increased its holdings in Air Products and Chemicals by 2.4% in the third quarter. Smithfield Trust Co now owns 1,566 shares of the basic materials company’s stock valued at $444,000 after buying an additional 36 shares in the last quarter. Vestcor Inc increased its holdings in Air Products and Chemicals by 0.7% in the fourth quarter. Vestcor Inc now owns 5,261 shares of the basic materials company’s stock valued at $1,622,000 after buying an additional 37 shares in the last quarter. Salem Investment Counselors Inc. increased its stake in shares of Air Products and Chemicals by 25.9% during the fourth quarter. Salem Investment Counselors Inc. now owns 180 shares of the basic materials company’s stock worth $56,000 after purchasing an additional 37 shares in the last quarter. Finally, Harbour Investments Inc. increased its stake in shares of Air Products and Chemicals by 4.8% during the second quarter. Harbour Investments Inc. now owns 832 shares of the basic materials company’s stock worth $249,000 after purchasing an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Wells Fargo & Company cut shares of Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a research note on Monday, February 5th. Argus cut shares of Air Products and Chemicals from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. TD Cowen dropped their price objective on shares of Air Products and Chemicals from $345.00 to $305.00 and set an “outperform” rating for the company in a research note on Friday, February 16th. Seaport Res Ptn cut shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 6th. Finally, Mizuho dropped their price objective on shares of Air Products and Chemicals from $304.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $276.36.

Air Products and Chemicals Stock Up 1.0 %

Shares of APD traded up $2.30 during midday trading on Friday, reaching $235.32. The stock had a trading volume of 169,680 shares, compared to its average volume of 1,725,166. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $307.71. The company’s fifty day simple moving average is $235.64 and its two-hundred day simple moving average is $257.80. The company has a market cap of $52.31 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 2.52 and a beta of 0.81. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.81 and a quick ratio of 1.58.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data on Monday, February 5th. The basic materials company reported $2.82 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the business posted $2.64 earnings per share. Air Products and Chemicals’s revenue for the quarter was down 5.6% compared to the same quarter last year. Equities research analysts expect that Air Products and Chemicals, Inc. will post 12.38 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, April 1st will be given a dividend of $1.77 per share. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.75. This represents a $7.08 annualized dividend and a yield of 3.01%. The ex-dividend date is Thursday, March 28th. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 67.56%.

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.