Berkshire Bank Sells 50 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Berkshire Bank decreased its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 2.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,726 shares of the basic materials company’s stock after selling 50 shares during the period. Berkshire Bank’s holdings in Air Products and Chemicals were worth $509,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in APD. Generali Investments Management Co LLC acquired a new stake in shares of Air Products and Chemicals during the fourth quarter worth approximately $26,000. Sierra Ocean LLC acquired a new stake in shares of Air Products and Chemicals during the fourth quarter worth approximately $30,000. WR Wealth Planners LLC increased 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 in the last quarter. Financial Perspectives Inc increased 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 in the last quarter. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of Air Products and Chemicals during the fourth quarter worth approximately $44,000. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Price Performance

Shares of APD stock opened at $280.49 on Tuesday. The stock has a market cap of $62.42 billion, a PE ratio of 16.29, a PEG ratio of 3.07 and a beta of 0.86. Air Products and Chemicals, Inc. has a 52-week low of $243.69 and a 52-week high of $341.14. The firm’s 50 day moving average price is $272.36 and its two-hundred day moving average price is $293.51. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 1.11.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data on Thursday, May 1st. The basic materials company reported $2.69 EPS for the quarter, missing the consensus estimate of $2.83 by ($0.14). The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.94 billion. Air Products and Chemicals had a net margin of 31.88% and a return on equity of 15.78%. The company’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.85 earnings per share. As a group, analysts forecast that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Tuesday, July 1st will be given a $1.79 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $7.16 annualized dividend and a yield of 2.55%. Air Products and Chemicals’s dividend payout ratio is currently 104.07%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on APD. Barclays dropped their price objective on shares of Air Products and Chemicals from $355.00 to $325.00 and set an “overweight” rating for the company in a report on Friday, May 2nd. Morgan Stanley began coverage on shares of Air Products and Chemicals in a report on Thursday, May 29th. They issued an “equal weight” rating and a $290.00 price target for the company. Citigroup lowered their price target on shares of 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. Bank of America lowered shares of Air Products and Chemicals from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $330.00 to $282.00 in a report on Tuesday, April 15th. Finally, Royal Bank of Canada began coverage on shares of Air Products and Chemicals in a report on Friday. They issued an “outperform” rating and a $355.00 price target for the company. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $332.41.

About Air Products and Chemicals

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.