Western Wealth Management LLC Sells 1,162 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Western Wealth Management LLC lessened its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 34.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,170 shares of the basic materials company’s stock after selling 1,162 shares during the quarter. Western Wealth Management LLC’s holdings in Air Products and Chemicals were worth $629,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in APD. Vanguard Group Inc. raised its holdings in shares of Air Products and Chemicals by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 21,485,176 shares of the basic materials company’s stock valued at $6,231,560,000 after acquiring an additional 207,404 shares in the last quarter. Dodge & Cox increased its position in shares of Air Products and Chemicals by 1.0% in the fourth quarter. Dodge & Cox now owns 6,663,154 shares of the basic materials company’s stock worth $1,932,581,000 after purchasing an additional 64,960 shares during the last quarter. Bank of America Corp DE raised its stake in Air Products and Chemicals by 129.4% in the fourth quarter. Bank of America Corp DE now owns 5,429,147 shares of the basic materials company’s stock valued at $1,574,670,000 after purchasing an additional 3,062,157 shares in the last quarter. Geode Capital Management LLC lifted its position in Air Products and Chemicals by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 4,931,661 shares of the basic materials company’s stock valued at $1,430,354,000 after purchasing an additional 57,314 shares during the last quarter. Finally, Mantle Ridge LP bought a new stake in Air Products and Chemicals during the fourth quarter valued at approximately $1,191,344,000. Institutional investors own 81.66% of the company’s stock.

Insider Transactions at Air Products and Chemicals

In related news, VP Walter L. Nelson sold 589 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $308.50, for a total value of $181,706.50. Following the sale, the vice president now directly owns 719 shares of the company’s stock, valued at $221,811.50. This trade represents a 45.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.41% of the stock is currently owned by company insiders.

Air Products and Chemicals Price Performance

Shares of Air Products and Chemicals stock opened at $270.03 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 0.96. Air Products and Chemicals, Inc. has a one year low of $243.69 and a one year high of $341.14. The business’s 50 day simple moving average is $273.90 and its two-hundred day simple moving average is $298.85. The stock has a market capitalization of $60.09 billion, a P/E ratio of 15.68, a price-to-earnings-growth ratio of 3.07 and a beta of 0.88.

Air Products and Chemicals (NYSE:APD) last issued its 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 15.78% and a net margin of 31.88%. The firm had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the prior year, the business posted $2.85 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Analysts forecast that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Dividend Announcement

The company also recently disclosed 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 dividend yield of 2.65%. The ex-dividend date is Tuesday, July 1st. Air Products and Chemicals’s payout ratio is 104.07%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wall Street Zen lowered shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Wells Fargo & Company cut 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. Bank of America cut Air Products and Chemicals from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $330.00 to $282.00 in a research note on Tuesday, April 15th. Sanford C. Bernstein raised Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price target for the company in a research note on Friday, January 31st. Finally, Citigroup cut their price objective on Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating for the company in a report on Tuesday, March 25th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $330.38.

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.