Cornerstone Wealth Management LLC Has $785,000 Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Cornerstone Wealth Management LLC lifted its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 4.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 2,661 shares of the basic materials company’s stock after buying an additional 103 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Air Products and Chemicals were worth $785,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in APD. Boomfish Wealth Group LLC boosted its holdings in Air Products and Chemicals by 2.0% in the first quarter. Boomfish Wealth Group LLC now owns 5,384 shares of the basic materials company’s stock valued at $1,588,000 after acquiring an additional 106 shares during the last quarter. Insigneo Advisory Services LLC lifted its position in shares of Air Products and Chemicals by 9.5% in the 1st quarter. Insigneo Advisory Services LLC now owns 3,208 shares of the basic materials company’s stock worth $946,000 after purchasing an additional 279 shares during the period. Chicago Capital LLC increased its position in shares of Air Products and Chemicals by 128.1% during the first quarter. Chicago Capital LLC now owns 6,455 shares of the basic materials company’s stock worth $1,904,000 after buying an additional 3,625 shares during the period. Inscription Capital LLC bought a new position in Air Products and Chemicals during the first quarter worth $490,000. Finally, Sagespring Wealth Partners LLC lifted its holdings in Air Products and Chemicals by 6.2% in the first quarter. Sagespring Wealth Partners LLC now owns 7,415 shares of the basic materials company’s stock valued at $2,187,000 after buying an additional 430 shares during the period. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Air Products and Chemicals Trading Down 0.6%

APD opened at $275.32 on Friday. Air Products and Chemicals, Inc. has a fifty-two week low of $243.69 and a fifty-two week high of $341.14. The firm has a market capitalization of $61.27 billion, a PE ratio of 40.02, a P/E/G ratio of 5.28 and a beta of 0.86. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.00 and a quick ratio of 0.85. The company’s 50-day moving average is $272.89 and its 200 day moving average is $292.85.

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

Air Products and Chemicals Dividend Announcement

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 $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date is Tuesday, July 1st. Air Products and Chemicals’s payout ratio is currently 104.07%.

Analyst Ratings Changes

Several research firms have recently weighed in on APD. Royal Bank Of Canada began coverage on Air Products and Chemicals in a research report on Friday, June 13th. They issued an “outperform” rating and a $355.00 price objective for the company. UBS Group decreased their target price on 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. Morgan Stanley started coverage on Air Products and Chemicals in a research note on Thursday, May 29th. They issued an “equal weight” rating and a $290.00 price target on the stock. Citigroup reduced their price objective on shares of 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. Finally, Wells Fargo & Company dropped their target price on shares of 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. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.