Argus Investors Counsel Inc. Sells 800 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Argus Investors Counsel Inc. cut its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 27.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,100 shares of the basic materials company’s stock after selling 800 shares during the period. Argus Investors Counsel Inc.’s holdings in Air Products and Chemicals were worth $619,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Everhart Financial Group Inc. boosted its position in Air Products and Chemicals by 6.7% during the first quarter. Everhart Financial Group Inc. now owns 1,280 shares of the basic materials company’s stock valued at $377,000 after purchasing an additional 80 shares in the last quarter. Bar Harbor Wealth Management lifted its position in shares of Air Products and Chemicals by 5.6% during the first quarter. Bar Harbor Wealth Management now owns 9,533 shares of the basic materials company’s stock valued at $2,811,000 after buying an additional 509 shares during the last quarter. Rockland Trust Co. raised its stake in shares of Air Products and Chemicals by 2.3% during the 1st quarter. Rockland Trust Co. now owns 47,151 shares of the basic materials company’s stock worth $13,906,000 after acquiring an additional 1,080 shares in the last quarter. Compagnie Lombard Odier SCmA purchased a new stake in Air Products and Chemicals during the first quarter valued at approximately $582,000. Finally, Ferguson Wellman Capital Management Inc. boosted its stake in Air Products and Chemicals by 1.6% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 2,499 shares of the basic materials company’s stock valued at $737,000 after acquiring an additional 40 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Price Performance

APD stock opened at $283.17 on Friday. Air Products and Chemicals, Inc. has a 52-week low of $243.69 and a 52-week high of $341.14. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. The stock has a market cap of $63.02 billion, a price-to-earnings ratio of 16.44, a price-to-earnings-growth ratio of 3.07 and a beta of 0.86. The business has a fifty day moving average of $271.04 and a two-hundred day moving average of $294.81.

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 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 for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period last year, the business earned $2.85 EPS. The company’s quarterly revenue was down .5% compared to the same quarter last year. As a group, research analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Tuesday, July 1st will be paid a $1.79 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $7.16 annualized dividend and a dividend yield of 2.53%. Air Products and Chemicals’s dividend payout ratio (DPR) is 104.07%.

Analyst Ratings Changes

A number of research firms have recently weighed in on APD. Citigroup lowered their price objective 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. Barclays decreased their price objective on shares of Air Products and Chemicals from $355.00 to $325.00 and set an “overweight” rating for the company in a research report on Friday, May 2nd. Bank of America downgraded shares of Air Products and Chemicals from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $330.00 to $282.00 in a research report on Tuesday, April 15th. UBS Group decreased 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 report on Friday, May 2nd. Finally, Wells Fargo & Company reduced their target price on 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 issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $332.41.

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.