Principal Street Partners LLC Sells 1,068 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Principal Street Partners LLC lowered its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 49.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,107 shares of the basic materials company’s stock after selling 1,068 shares during the quarter. Principal Street Partners LLC’s holdings in Air Products and Chemicals were worth $321,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Generali Investments Management Co LLC bought a new stake in shares of Air Products and Chemicals in the 4th quarter worth approximately $26,000. Raleigh Capital Management Inc. raised its holdings in shares of Air Products and Chemicals by 69.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 43 shares during the period. Sierra Ocean LLC bought a new stake in shares of Air Products and Chemicals in the 4th quarter worth approximately $30,000. Financial Life Planners bought a new stake in shares of Air Products and Chemicals in the 4th quarter worth approximately $31,000. Finally, WR Wealth Planners LLC raised its holdings in shares of Air Products and Chemicals by 40.3% in the 4th quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 31 shares during the period. Institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on APD shares. Bank of America cut shares of Air Products and Chemicals from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $330.00 to $282.00 in a report on Tuesday, April 15th. Citigroup reduced their price objective on shares of Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating for the company in a research note on Tuesday, March 25th. StockNews.com lowered shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. BNP Paribas upgraded shares of Air Products and Chemicals to a “strong-buy” rating in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company reduced their price objective on shares of Air Products and Chemicals from $365.00 to $320.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $330.38.

Air Products and Chemicals Stock Down 0.6%

Shares of NYSE:APD opened at $275.79 on Wednesday. Air Products and Chemicals, Inc. has a 52-week low of $243.69 and a 52-week high of $341.14. The firm has a fifty day moving average of $275.30 and a 200 day moving average of $299.56. The firm has a market capitalization of $61.38 billion, a PE ratio of 16.02, a price-to-earnings-growth ratio of 3.07 and a beta of 0.88. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 1.11.

Air Products and Chemicals (NYSE:APD) last announced its earnings results on Thursday, May 1st. The basic materials company reported $2.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.83 by ($0.14). Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter last year, the firm posted $2.85 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. As a group, research analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Insider Buying and Selling

In other Air Products and Chemicals news, VP Walter L. Nelson sold 589 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $308.50, for a total value of $181,706.50. Following the completion of the sale, the vice president now directly owns 719 shares of the company’s stock, valued at $221,811.50. The trade was a 45.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kurt Lefevere sold 1,500 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $316.17, for a total transaction of $474,255.00. Following the completion of the sale, the insider now directly owns 1,462 shares of the company’s stock, valued at $462,240.54. This represents a 50.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.41% of the stock is owned by company insiders.

Air Products and Chemicals Company 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.