Kingswood Wealth Advisors LLC Sells 718 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Kingswood Wealth Advisors LLC lessened its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 5.0% in the first quarter, Holdings Channel.com reports. The institutional investor owned 13,581 shares of the basic materials company’s stock after selling 718 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Air Products and Chemicals were worth $4,005,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Wolf Group Capital Advisors bought a new position in Air Products and Chemicals during the first quarter worth $1,370,000. Cornerstone Wealth Management LLC increased its stake in Air Products and Chemicals by 4.0% in the first quarter. Cornerstone Wealth Management LLC now owns 2,661 shares of the basic materials company’s stock valued at $785,000 after purchasing an additional 103 shares in the last quarter. Boomfish Wealth Group LLC increased its stake in Air Products and Chemicals by 2.0% in the first quarter. Boomfish Wealth Group LLC now owns 5,384 shares of the basic materials company’s stock valued at $1,588,000 after purchasing an additional 106 shares in the last quarter. Insigneo Advisory Services LLC increased its stake in Air Products and Chemicals by 9.5% in the first quarter. Insigneo Advisory Services LLC now owns 3,208 shares of the basic materials company’s stock valued at $946,000 after purchasing an additional 279 shares in the last quarter. Finally, Chicago Capital LLC increased its stake in Air Products and Chemicals by 128.1% in the first quarter. Chicago Capital LLC now owns 6,455 shares of the basic materials company’s stock valued at $1,904,000 after purchasing an additional 3,625 shares in the last quarter. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Down 1.2%

APD opened at $277.19 on Wednesday. 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 stock has a market cap of $61.69 billion, a price-to-earnings ratio of 40.29, a PEG ratio of 5.38 and a beta of 0.86. Air Products and Chemicals, Inc. has a twelve month low of $243.69 and a twelve month high of $341.14. The company’s 50-day moving average price is $272.51 and its two-hundred day moving average price is $293.39.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Thursday, May 1st. The basic materials company reported $2.69 earnings per share for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.14). The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Air Products and Chemicals had a net margin of 12.76% and a return on equity of 15.48%. The firm’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.85 earnings per share. As a group, equities 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 firm also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Tuesday, July 1st will be paid a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date is Tuesday, July 1st. Air Products and Chemicals’s payout ratio is currently 104.07%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Citigroup decreased 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 research note on Tuesday, March 25th. Wells Fargo & Company decreased their price target on shares of Air Products and Chemicals from $365.00 to $320.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. Royal Bank Of Canada assumed coverage on shares of Air Products and Chemicals in a research note on Friday, June 13th. They issued an “outperform” rating and a $355.00 price target for the company. Bank of America downgraded 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 research note on Tuesday, April 15th. Finally, UBS Group decreased their price target on shares of Air Products and Chemicals from $335.00 to $324.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Air Products and Chemicals currently has an average rating of “Moderate Buy” and a consensus target price of $332.41.

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.