Byrne Asset Management LLC Reduces Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Byrne Asset Management LLC decreased its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 19.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 463 shares of the basic materials company’s stock after selling 110 shares during the quarter. Byrne Asset Management LLC’s holdings in Air Products and Chemicals were worth $137,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Generali Investments Management Co LLC purchased a new position in shares of Air Products and Chemicals during the fourth quarter worth about $26,000. Sierra Ocean LLC purchased a new position in shares of Air Products and Chemicals during the fourth quarter worth about $30,000. WR Wealth Planners LLC grew its holdings in shares of Air Products and Chemicals by 40.3% during the fourth quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company’s stock worth $31,000 after buying an additional 31 shares during the last quarter. Financial Perspectives Inc grew its holdings in shares of Air Products and Chemicals by 33.3% during the fourth quarter. Financial Perspectives Inc now owns 140 shares of the basic materials company’s stock worth $41,000 after buying an additional 35 shares during the last quarter. Finally, Lee Danner & Bass Inc. purchased a new position in shares of Air Products and Chemicals during the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analysts Set New Price Targets

APD has been the topic of a number of research reports. Morgan Stanley initiated coverage on Air Products and Chemicals in a report on Thursday, May 29th. They set an “equal weight” rating and a $290.00 price target on the stock. Wells Fargo & Company reduced their price objective 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 downgraded shares of Air Products and Chemicals from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $330.00 to $282.00 in a research report on Tuesday, April 15th. UBS Group reduced their price objective on shares of Air Products and Chemicals from $335.00 to $324.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Finally, Citigroup reduced their price objective on shares of Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating for the company in a research report on Tuesday, March 25th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $332.41.

Air Products and Chemicals Price Performance

APD stock opened at $280.02 on Friday. The firm has a 50 day moving average of $271.69 and a 200-day moving average of $294.43. Air Products and Chemicals, Inc. has a 12-month low of $243.69 and a 12-month high of $341.14. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71. The company has a market cap of $62.32 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 3.07 and a beta of 0.86.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings data 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 company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the prior year, the firm earned $2.85 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. As a group, equities analysts expect that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Tuesday, July 1st will be paid a $1.79 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $7.16 annualized dividend and a yield of 2.56%. Air Products and Chemicals’s 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.