West Oak Capital LLC Sells 245 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

West Oak Capital LLC trimmed its position in Air Products and Chemicals, Inc. (NYSE:APD) by 2.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,635 shares of the basic materials company’s stock after selling 245 shares during the period. Air Products and Chemicals accounts for 1.1% of West Oak Capital LLC’s investment portfolio, making the stock its 23rd biggest position. West Oak Capital LLC’s holdings in Air Products and Chemicals were worth $2,842,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in APD. Tran Capital Management L.P. grew its position in Air Products and Chemicals by 1.4% in the first quarter. Tran Capital Management L.P. now owns 29,701 shares of the basic materials company’s stock worth $8,759,000 after acquiring an additional 398 shares in the last quarter. Simon Quick Advisors LLC grew its position in Air Products and Chemicals by 21.7% in the first quarter. Simon Quick Advisors LLC now owns 1,216 shares of the basic materials company’s stock worth $359,000 after acquiring an additional 217 shares in the last quarter. Alpha Omega Wealth Management LLC grew its position in Air Products and Chemicals by 2.3% in the first quarter. Alpha Omega Wealth Management LLC now owns 3,494 shares of the basic materials company’s stock worth $1,030,000 after acquiring an additional 77 shares in the last quarter. McKinley Carter Wealth Services Inc. grew its position in Air Products and Chemicals by 2.3% in the first quarter. McKinley Carter Wealth Services Inc. now owns 7,951 shares of the basic materials company’s stock worth $2,345,000 after acquiring an additional 179 shares in the last quarter. Finally, Bard Financial Services Inc. grew its position in Air Products and Chemicals by 2.1% in the first quarter. Bard Financial Services Inc. now owns 9,700 shares of the basic materials company’s stock worth $2,861,000 after acquiring an additional 200 shares in the last quarter. 81.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on APD shares. Citigroup lowered their price target 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. Wells Fargo & Company lowered their price target 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. UBS Group lowered their price target on shares of Air Products and Chemicals from $335.00 to $324.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Bank of America downgraded 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 research note on Tuesday, April 15th. Finally, Morgan Stanley began coverage on shares of Air Products and Chemicals in a research note on Thursday, May 29th. They issued an “equal weight” rating and a $290.00 price target for the company. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $331.00.

Air Products and Chemicals Price Performance

NYSE APD opened at $282.25 on Thursday. The firm’s fifty day simple moving average is $270.55 and its two-hundred day simple moving average is $295.16. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71. Air Products and Chemicals, Inc. has a 12-month low of $243.69 and a 12-month high of $341.14. The firm has a market capitalization of $62.81 billion, a P/E ratio of 16.39, a P/E/G ratio of 3.07 and a beta of 0.86.

Air Products and Chemicals (NYSE:APD) last released its quarterly 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 firm 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 firm posted $2.85 earnings per share. Air Products and Chemicals’s revenue for the quarter was down .5% compared to the same quarter last year. 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 declared a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Tuesday, July 1st will be issued a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 2.54%. The ex-dividend date is Tuesday, July 1st. Air Products and Chemicals’s dividend payout ratio is currently 104.07%.

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.