Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Sentry Investment Management LLC

Sentry Investment Management LLC cut its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 23.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 705 shares of the basic materials company’s stock after selling 210 shares during the quarter. Sentry Investment Management LLC’s holdings in Air Products and Chemicals were worth $208,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ST Germain D J Co. Inc. increased its stake in Air Products and Chemicals by 7.1% during the first quarter. ST Germain D J Co. Inc. now owns 3,919 shares of the basic materials company’s stock worth $1,156,000 after acquiring an additional 261 shares during the last quarter. Merit Financial Group LLC increased its stake in Air Products and Chemicals by 14.8% during the first quarter. Merit Financial Group LLC now owns 2,824 shares of the basic materials company’s stock worth $833,000 after acquiring an additional 365 shares during the last quarter. Harbor Investment Advisory LLC increased its stake in Air Products and Chemicals by 2.5% during the first quarter. Harbor Investment Advisory LLC now owns 3,167 shares of the basic materials company’s stock worth $934,000 after acquiring an additional 76 shares during the last quarter. O Keefe Stevens Advisory Inc. increased its stake in Air Products and Chemicals by 24.8% during the first quarter. O Keefe Stevens Advisory Inc. now owns 3,242 shares of the basic materials company’s stock worth $956,000 after acquiring an additional 645 shares during the last quarter. Finally, NBC Securities Inc. increased its stake in Air Products and Chemicals by 173,600.0% during the first quarter. NBC Securities Inc. now owns 1,737 shares of the basic materials company’s stock worth $512,000 after acquiring an additional 1,736 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Air Products and Chemicals Trading Up 1.7%

Shares of APD opened at $283.49 on Wednesday. The company has a market capitalization of $63.09 billion, a P/E ratio of 16.46, a P/E/G ratio of 3.07 and a beta of 0.88. Air Products and Chemicals, Inc. has a one year low of $243.69 and a one year high of $341.14. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 1.11. The stock has a 50-day moving average price of $271.37 and a 200 day moving average price of $296.95.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported $2.69 EPS for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.14). Air Products and Chemicals had a net margin of 31.88% and a return on equity of 15.78%. The business had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the prior year, the company posted $2.85 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. Sell-side analysts forecast that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Tuesday, July 1st will be issued a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Tuesday, July 1st. Air Products and Chemicals’s dividend payout ratio is presently 104.07%.

Analyst Ratings Changes

Several brokerages have recently weighed in on APD. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $320.00 target price (down previously from $345.00) on shares of Air Products and Chemicals in a research report on Friday, February 7th. Wall Street Zen downgraded Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. Citigroup decreased their target price on Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating for the company in a research report on Tuesday, March 25th. Morgan Stanley began coverage on Air Products and Chemicals in a research report on Thursday, May 29th. They issued an “equal weight” rating and a $290.00 target price for the company. Finally, BNP Paribas raised Air Products and Chemicals to a “strong-buy” rating in a research report on Tuesday, February 11th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $331.00.

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.