Beach Investment Counsel Inc. PA Cuts Position in Air Products and Chemicals, Inc. (NYSE:APD)

Beach Investment Counsel Inc. PA lowered its position in Air Products and Chemicals, Inc. (NYSE:APD) by 4.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,000 shares of the basic materials company’s stock after selling 50 shares during the period. Beach Investment Counsel Inc. PA’s holdings in Air Products and Chemicals were worth $295,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Generali Investments Management Co LLC purchased a new stake in shares of Air Products and Chemicals during the fourth quarter valued at $26,000. Sierra Ocean LLC acquired a new position in Air Products and Chemicals in the 4th quarter worth about $30,000. WR Wealth Planners LLC boosted its position in Air Products and Chemicals by 40.3% during the fourth 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 in the last quarter. Financial Perspectives Inc grew its holdings in Air Products and Chemicals by 33.3% in the fourth quarter. Financial Perspectives Inc now owns 140 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 35 shares during the period. Finally, Lee Danner & Bass Inc. purchased a new stake in shares of Air Products and Chemicals in the fourth quarter valued at approximately $44,000. 81.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. UBS Group decreased their target price on Air Products and Chemicals from $335.00 to $324.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Citigroup decreased their price objective on shares of Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. Wells Fargo & Company dropped their target price on shares of Air Products and Chemicals from $365.00 to $320.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Morgan Stanley assumed coverage on shares of Air Products and Chemicals in a research report on Thursday, May 29th. They set an “equal weight” rating and a $290.00 price target for the company. Finally, BNP Paribas raised shares of Air Products and Chemicals to a “strong-buy” rating in a research note on Tuesday, February 11th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $331.00.

Air Products and Chemicals Stock Up 1.3%

APD stock opened at $279.94 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71. The firm has a 50-day moving average of $270.50 and a two-hundred day moving average of $295.93. Air Products and Chemicals, Inc. has a 12 month low of $243.69 and a 12 month high of $341.14. The company has a market cap of $62.30 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 3.07 and a beta of 0.86.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results on Thursday, May 1st. The basic materials company reported $2.69 EPS for the quarter, missing the consensus estimate 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 company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same period in the prior year, the business posted $2.85 EPS. Air Products and Chemicals’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, analysts forecast that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $1.79 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $7.16 annualized dividend and a dividend yield of 2.56%. Air Products and Chemicals’s dividend payout ratio is presently 104.07%.

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.