Air Products and Chemicals, Inc. (NYSE:APD) Stake Cut by Global Trust Asset Management LLC

Global Trust Asset Management LLC cut its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 7.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,483 shares of the basic materials company’s stock after selling 121 shares during the quarter. Global Trust Asset Management LLC’s holdings in Air Products and Chemicals were worth $437,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Generali Investments Management Co LLC bought a new position in Air Products and Chemicals during the fourth quarter worth $26,000. Sierra Ocean LLC bought a new position in Air Products and Chemicals during the fourth quarter worth $30,000. WR Wealth Planners LLC lifted its stake 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 during the last quarter. Financial Perspectives Inc increased its position 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 worth $41,000 after buying an additional 35 shares during the period. Finally, Lee Danner & Bass Inc. acquired a new stake in Air Products and Chemicals in the fourth quarter worth $44,000. 81.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Morgan Stanley assumed 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 on the stock. Citigroup dropped their target price on Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. Barclays dropped their target price on Air Products and Chemicals from $355.00 to $325.00 and set an “overweight” rating on the stock in a research report on Friday, May 2nd. Wells Fargo & Company dropped their target price on 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. Finally, Bank of America lowered 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. 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $332.41.

Air Products and Chemicals Trading Up 0.0%

Shares of APD stock opened at $280.49 on Tuesday. The stock has a 50-day simple moving average of $272.36 and a 200 day simple moving average of $293.51. Air Products and Chemicals, Inc. has a fifty-two week low of $243.69 and a fifty-two week high of $341.14. The stock has a market capitalization of $62.42 billion, a P/E ratio of 16.29, a P/E/G ratio of 3.07 and a beta of 0.86. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71.

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 net margin of 31.88% and a return on equity of 15.78%. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the prior year, the business earned $2.85 EPS. The company’s quarterly revenue was down .5% compared to the same quarter last year. On average, sell-side analysts expect 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 company also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Tuesday, July 1st will be paid 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 yield of 2.55%. Air Products and Chemicals’s dividend payout ratio is currently 104.07%.

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.