Stock Yards Bank & Trust Co. Trims Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Stock Yards Bank & Trust Co. reduced its position in Air Products and Chemicals, Inc. (NYSE:APD) by 0.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 11,331 shares of the basic materials company’s stock after selling 96 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Air Products and Chemicals were worth $3,102,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Air Products and Chemicals in the 4th quarter valued at about $27,000. Rakuten Securities Inc. purchased a new stake in shares of Air Products and Chemicals in the 4th quarter valued at about $33,000. Legacy Bridge LLC purchased a new stake in shares of Air Products and Chemicals in the 4th quarter valued at about $35,000. Cetera Trust Company N.A purchased a new stake in shares of Air Products and Chemicals in the 4th quarter valued at about $35,000. Finally, FinTrust Capital Advisors LLC lifted its holdings in shares of 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 valued at $37,000 after purchasing an additional 38 shares during the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Citigroup upped their price objective on Air Products and Chemicals from $260.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. BMO Capital Markets reduced their price objective on Air Products and Chemicals from $307.00 to $250.00 and set an “outperform” rating for the company in a research note on Tuesday, February 6th. Wolfe Research assumed coverage on Air Products and Chemicals in a research note on Friday, March 1st. They set an “outperform” rating and a $279.00 price objective for the company. Barclays reduced their price objective on Air Products and Chemicals from $260.00 to $245.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 6th. Finally, Morgan Stanley reduced their price objective on Air Products and Chemicals from $285.00 to $240.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $276.36.

Air Products and Chemicals Stock Performance

NYSE APD opened at $234.37 on Tuesday. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $307.71. The company has a market capitalization of $52.10 billion, a P/E ratio of 22.36, a PEG ratio of 2.55 and a beta of 0.81. The business has a 50 day moving average price of $236.12 and a 200 day moving average price of $256.79. 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 released its quarterly earnings data 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 analysts’ expectations of $3.20 billion. During the same period in the previous year, the business earned $2.64 earnings per share. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. Sell-side analysts expect that Air Products and Chemicals, Inc. will post 12.38 EPS for the current fiscal year.

Air Products and Chemicals Increases Dividend

The company also recently disclosed 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. This represents a $7.08 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend is Thursday, March 28th. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 67.56%.

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.