Empirical Finance LLC Sells 81 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Empirical Finance LLC lowered its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 1.1% in the 4th quarter, Holdings Channel reports. The firm owned 7,591 shares of the basic materials company’s stock after selling 81 shares during the quarter. Empirical Finance LLC’s holdings in Air Products and Chemicals were worth $2,202,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Truvestments Capital LLC purchased a new position in Air Products and Chemicals during the third quarter valued at approximately $25,000. Raleigh Capital Management Inc. boosted its holdings in Air Products and Chemicals by 69.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 43 shares during the period. Financial Life Planners bought a new position in shares of Air Products and Chemicals in the fourth quarter worth $31,000. Iron Horse Wealth Management LLC raised its position in shares of Air Products and Chemicals by 88.7% in the third quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock worth $35,000 after buying an additional 55 shares in the last quarter. Finally, Newton One Investments LLC purchased a new position in Air Products and Chemicals during the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

Air Products and Chemicals stock opened at $310.66 on Monday. Air Products and Chemicals, Inc. has a 1-year low of $213.80 and a 1-year high of $341.14. The firm has a market cap of $69.09 billion, a P/E ratio of 18.04, a P/E/G ratio of 3.47 and a beta of 0.85. The company has a current ratio of 1.11, a quick ratio of 1.34 and a debt-to-equity ratio of 0.71. The firm has a 50-day moving average of $309.83 and a 200-day moving average of $301.60.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings data on Thursday, February 6th. The basic materials company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.27). Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. Sell-side analysts expect that Air Products and Chemicals, Inc. will post 12.77 EPS for the current year.

Air Products and Chemicals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be paid a $1.79 dividend. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio is presently 41.11%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on APD. Sanford C. Bernstein upgraded 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 report on Friday, January 31st. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $320.00 price target (down previously from $345.00) on shares of Air Products and Chemicals in a research note on Friday. Barclays upgraded shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $315.00 to $365.00 in a research report on Friday, January 24th. UBS Group upped their target price on shares of Air Products and Chemicals from $375.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Finally, Bank of America lowered Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price target for the company. in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $339.94.

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.