Resurgent Financial Advisors LLC Cuts Position in Air Products and Chemicals, Inc. (NYSE:APD)

Resurgent Financial Advisors LLC decreased its position in Air Products and Chemicals, Inc. (NYSE:APD) by 6.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,439 shares of the basic materials company’s stock after selling 95 shares during the quarter. Resurgent Financial Advisors LLC’s holdings in Air Products and Chemicals were worth $424,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parvin Asset Management LLC acquired a new position in shares of Air Products and Chemicals during the fourth quarter worth $715,000. Ritholtz Wealth Management boosted its stake in shares of Air Products and Chemicals by 20.9% during the first quarter. Ritholtz Wealth Management now owns 1,603 shares of the basic materials company’s stock worth $473,000 after buying an additional 277 shares during the period. Mantle Ridge LP acquired a new stake in shares of Air Products and Chemicals during the fourth quarter worth about $1,191,344,000. Proficio Capital Partners LLC acquired a new stake in shares of Air Products and Chemicals during the fourth quarter worth about $246,000. Finally, Allstate Corp purchased a new position in Air Products and Chemicals during the fourth quarter worth about $1,917,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Trading Up 0.6%

Air Products and Chemicals stock opened at $295.23 on Friday. 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 firm has a 50-day moving average price of $281.02 and a two-hundred day moving average price of $290.21. The firm has a market capitalization of $65.70 billion, a price-to-earnings ratio of 42.91, a PEG ratio of 5.63 and a beta of 0.85. Air Products and Chemicals, Inc. has a 52-week low of $243.69 and a 52-week high of $341.14.

Air Products and Chemicals (NYSE:APD) last posted its 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 firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.94 billion. Air Products and Chemicals had a net margin of 12.76% and a return on equity of 15.48%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.85 earnings per share. Sell-side analysts expect 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 declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Wednesday, October 1st will be given a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.43%. Air Products and Chemicals’s dividend payout ratio (DPR) is 104.07%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. UBS Group increased their price target on shares of Air Products and Chemicals from $328.00 to $344.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Morgan Stanley began coverage on shares of Air Products and Chemicals in a research report on Thursday, May 29th. They set an “equal weight” rating and a $290.00 target price on the stock. Citigroup raised their target price on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the stock a “buy” rating in a research report on Monday, June 30th. Bank of America lowered shares of Air Products and Chemicals from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $330.00 to $282.00 in a report on Tuesday, April 15th. Finally, Barclays cut their target price 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. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Air Products and Chemicals has a consensus rating of “Moderate Buy” and an average price target of $331.53.

Air Products and Chemicals 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.