International Assets Investment Management LLC Trims Position in Air Products and Chemicals, Inc. (NYSE:APD)

International Assets Investment Management LLC reduced its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 9.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,132 shares of the basic materials company’s stock after selling 214 shares during the period. International Assets Investment Management LLC’s holdings in Air Products and Chemicals were worth $629,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Generali Investments Management Co LLC purchased a new position in Air Products and Chemicals during the fourth quarter valued at approximately $26,000. WR Wealth Planners LLC grew its position in Air Products and Chemicals by 40.3% during the 4th 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. Lee Danner & Bass Inc. acquired a new position in shares of Air Products and Chemicals in the 4th quarter valued at $44,000. Sunbelt Securities Inc. boosted its position in Air Products and Chemicals by 525.9% in the fourth quarter. Sunbelt Securities Inc. now owns 169 shares of the basic materials company’s stock valued at $49,000 after buying an additional 142 shares during the last quarter. Finally, Whipplewood Advisors LLC purchased a new position in Air Products and Chemicals during the 4th quarter worth approximately $50,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Performance

NYSE:APD opened at $282.12 on Thursday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.85 and a current ratio of 1.00. The company has a 50 day moving average price of $273.68 and a 200 day moving average price of $291.52. 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 $62.78 billion, a P/E ratio of 41.01, a PEG ratio of 5.39 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 the consensus estimate 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 business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period in the prior year, the company posted $2.85 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. Equities research analysts forecast 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. Shareholders 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 2.54%. The ex-dividend date of this dividend is Tuesday, July 1st. Air Products and Chemicals’s dividend payout ratio is currently 104.07%.

Analysts Set New Price Targets

Several brokerages have weighed in on APD. Bank of America downgraded Air Products and Chemicals from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $330.00 to $282.00 in a research report on Tuesday, April 15th. Royal Bank Of Canada began coverage on shares of Air Products and Chemicals in a report on Friday, June 13th. They issued an “outperform” rating and a $355.00 price target for the company. Morgan Stanley began coverage on Air Products and Chemicals in a report on Thursday, May 29th. They set an “equal weight” rating and a $290.00 target price for the company. Wells Fargo & Company reduced their target price 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, UBS Group reduced their price objective on Air Products and Chemicals from $335.00 to $324.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.