Legacy Capital Wealth Partners LLC Sells 484 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Legacy Capital Wealth Partners LLC reduced its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 23.2% during the first quarter, Holdings Channel.com reports. The fund owned 1,603 shares of the basic materials company’s stock after selling 484 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Air Products and Chemicals were worth $473,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Lineweaver Wealth Advisors LLC grew its stake in Air Products and Chemicals by 12.2% in the 1st quarter. Lineweaver Wealth Advisors LLC now owns 5,787 shares of the basic materials company’s stock worth $1,709,000 after acquiring an additional 629 shares in the last quarter. Summit X LLC bought a new position in Air Products and Chemicals in the 1st quarter worth about $219,000. Grandfield & Dodd LLC grew its stake in Air Products and Chemicals by 0.5% in the 1st quarter. Grandfield & Dodd LLC now owns 112,699 shares of the basic materials company’s stock worth $33,237,000 after acquiring an additional 577 shares in the last quarter. Guardian Wealth Advisors LLC grew its stake in Air Products and Chemicals by 3.3% in the 1st quarter. Guardian Wealth Advisors LLC now owns 1,381 shares of the basic materials company’s stock worth $407,000 after acquiring an additional 44 shares in the last quarter. Finally, Bridgewater Advisors Inc. bought a new position in Air Products and Chemicals in the 1st quarter worth about $261,000. 81.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on APD. Morgan Stanley began coverage on shares of Air Products and Chemicals in a research note on Thursday, May 29th. They set an “equal weight” rating and a $290.00 price objective on the stock. Barclays dropped their price objective on shares of Air Products and Chemicals from $355.00 to $325.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Royal Bank Of Canada began coverage on shares of Air Products and Chemicals in a research note on Friday, June 13th. They set an “outperform” rating and a $355.00 price objective on the stock. Wells Fargo & Company increased their price objective on shares of Air Products and Chemicals from $320.00 to $345.00 and gave the company an “overweight” rating in a research note on Monday. Finally, UBS Group increased their price objective on shares of Air Products and Chemicals from $328.00 to $344.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Air Products and Chemicals presently has an average rating of “Moderate Buy” and an average target price of $331.53.

Air Products and Chemicals Trading Up 0.9%

NYSE:APD opened at $289.14 on Thursday. Air Products and Chemicals, Inc. has a 52 week low of $243.69 and a 52 week high of $341.14. The firm has a 50 day moving average of $280.06 and a 200 day moving average of $290.14. 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 stock has a market capitalization of $64.35 billion, a price-to-earnings ratio of 42.03, a PEG ratio of 5.50 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD) last posted 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). The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Air Products and Chemicals had a return on equity of 15.48% and a net margin of 12.76%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $2.85 EPS. As a group, sell-side analysts anticipate 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 business also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Tuesday, July 1st will be issued a $1.79 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.48%. 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.