Sky Investment Group LLC Sells 40 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Sky Investment Group LLC lessened its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 0.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,974 shares of the basic materials company’s stock after selling 40 shares during the period. Sky Investment Group LLC’s holdings in Air Products and Chemicals were worth $1,762,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in APD. Generali Investments Management Co LLC bought a new position in shares of Air Products and Chemicals during the 4th quarter valued at about $26,000. Sierra Ocean LLC bought a new position in shares of Air Products and Chemicals in the 4th quarter valued at about $30,000. WR Wealth Planners LLC lifted 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 valued at $31,000 after acquiring an additional 31 shares during the last quarter. Financial Perspectives Inc lifted its holdings in shares of Air Products and Chemicals by 33.3% in the 4th quarter. Financial Perspectives Inc now owns 140 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 35 shares during the last quarter. Finally, Lee Danner & Bass Inc. bought a new position in shares of Air Products and Chemicals in the 4th quarter valued at about $44,000. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Price Performance

NYSE:APD opened at $283.17 on Friday. The firm’s fifty day moving average is $271.04 and its two-hundred day moving average is $294.81. The firm has a market cap of $63.02 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 3.07 and a beta of 0.86. 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.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings data on Thursday, May 1st. The basic materials company reported $2.69 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $2.94 billion. During the same quarter last year, the company posted $2.85 EPS. The company’s revenue was down .5% on a year-over-year basis. Research analysts expect that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Tuesday, July 1st will be given 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 2.53%. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 104.07%.

Analyst Upgrades and Downgrades

APD has been the subject of a number of analyst reports. 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 report on Wednesday, April 9th. Morgan Stanley initiated coverage on shares of Air Products and Chemicals in a report on Thursday, May 29th. They issued an “equal weight” rating and a $290.00 price target for the company. 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 company from $330.00 to $282.00 in a report on Tuesday, April 15th. Barclays lowered their price target on shares of Air Products and Chemicals from $355.00 to $325.00 and set an “overweight” rating for the company in a report on Friday, May 2nd. Finally, UBS Group decreased their price objective 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. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.