Premier Path Wealth Partners LLC Has $1.37 Million Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Premier Path Wealth Partners LLC cut its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 2.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 4,643 shares of the basic materials company’s stock after selling 127 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Air Products and Chemicals were worth $1,369,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Friedenthal Financial acquired a new position in shares of Air Products and Chemicals during the first quarter worth $963,000. Harrell Investment Partners LLC increased its holdings in shares of Air Products and Chemicals by 2.7% during the first quarter. Harrell Investment Partners LLC now owns 16,556 shares of the basic materials company’s stock worth $4,883,000 after buying an additional 428 shares in the last quarter. Community Bank N.A. increased its holdings in shares of Air Products and Chemicals by 5.2% during the first quarter. Community Bank N.A. now owns 9,810 shares of the basic materials company’s stock worth $2,893,000 after buying an additional 488 shares in the last quarter. Grandview Asset Management LLC increased its holdings in shares of Air Products and Chemicals by 5.8% during the first quarter. Grandview Asset Management LLC now owns 913 shares of the basic materials company’s stock worth $269,000 after buying an additional 50 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in shares of Air Products and Chemicals by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 26,069 shares of the basic materials company’s stock worth $7,688,000 after buying an additional 720 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

APD has been the subject of several research analyst reports. 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. Barclays decreased their price objective on 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. Wells Fargo & Company decreased their price objective on Air Products and Chemicals from $365.00 to $320.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. Bank of America downgraded Air Products and Chemicals from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $330.00 to $282.00 in a report on Tuesday, April 15th. Finally, Morgan Stanley initiated coverage on Air Products and Chemicals in a report on Thursday, May 29th. They issued an “equal weight” rating and a $290.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $332.41.

Air Products and Chemicals Stock Performance

Shares of APD opened at $275.32 on Thursday. The company has a current ratio of 1.00, a quick ratio of 0.85 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $61.27 billion, a P/E ratio of 40.02, a price-to-earnings-growth ratio of 5.32 and a beta of 0.86. The firm’s fifty day simple moving average is $272.61 and its two-hundred day simple moving average is $293.27. Air Products and Chemicals, Inc. has a 12 month low of $243.69 and a 12 month high of $341.14.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported $2.69 EPS for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.14). The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.94 billion. Air Products and Chemicals had a net margin of 12.76% and a return on equity of 15.48%. The business’s revenue was down .5% compared to the same quarter last year. During the same period last year, the company posted $2.85 EPS. As a group, analysts predict 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. Stockholders of record on Tuesday, July 1st will be given a dividend of $1.79 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.60%. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 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.