Hartford Financial Management Inc. Decreases Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Hartford Financial Management Inc. reduced its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,190 shares of the basic materials company’s stock after selling 83 shares during the period. Hartford Financial Management Inc.’s holdings in Air Products and Chemicals were worth $2,710,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of APD. Generali Investments Management Co LLC purchased a new stake in shares of Air Products and Chemicals during the 4th quarter worth $26,000. Sierra Ocean LLC purchased a new stake in shares of Air Products and Chemicals during the 4th quarter worth $30,000. WR Wealth Planners LLC lifted its position in Air Products and Chemicals by 40.3% in the fourth 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 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 valued at $41,000 after acquiring an additional 35 shares during the last quarter. Finally, Lee Danner & Bass Inc. purchased a new stake in Air Products and Chemicals in the fourth quarter valued at $44,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Trading Down 0.6%

Shares of Air Products and Chemicals stock opened at $275.32 on Thursday. 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 0.85, a current ratio of 1.00 and a debt-to-equity ratio of 0.85. The company’s 50-day simple moving average is $272.61 and its 200-day simple moving average is $293.27. The firm has a market cap of $61.27 billion, a price-to-earnings ratio of 40.02, a price-to-earnings-growth ratio of 5.32 and a beta of 0.86.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported $2.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.14). Air Products and Chemicals had a return on equity of 15.48% and a net margin of 12.76%. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter last year, the firm earned $2.85 earnings per share. The company’s revenue was down .5% compared to the same quarter last year. As a group, equities research analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Tuesday, July 1st will be given a dividend of $1.79 per share. The ex-dividend date is Tuesday, July 1st. This represents a $7.16 annualized dividend and a yield of 2.60%. Air Products and Chemicals’s payout ratio is currently 104.07%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on APD shares. UBS Group reduced 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 report on Friday, May 2nd. Bank of America cut shares of Air Products and Chemicals from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $330.00 to $282.00 in a research report on Tuesday, April 15th. Morgan Stanley started coverage on shares of Air Products and Chemicals in a research report on Thursday, May 29th. They issued an “equal weight” rating and a $290.00 price target for the company. Wells Fargo & Company reduced 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 report on Wednesday, April 9th. Finally, Barclays reduced 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 research report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Air Products and Chemicals has an average rating of “Moderate Buy” and a consensus price target of $332.41.

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.