Sage Mountain Advisors LLC Sells 126 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Sage Mountain Advisors LLC decreased its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 7.2% in the first quarter, Holdings Channel.com reports. The fund owned 1,628 shares of the basic materials company’s stock after selling 126 shares during the period. Sage Mountain Advisors LLC’s holdings in Air Products and Chemicals were worth $480,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of APD. Mantle Ridge LP bought a new position in shares of Air Products and Chemicals during the fourth quarter worth $1,191,344,000. Norges Bank purchased a new stake in Air Products and Chemicals during the fourth quarter valued at $919,721,000. Bank of America Corp DE raised its stake in Air Products and Chemicals by 129.4% during the fourth quarter. Bank of America Corp DE now owns 5,429,147 shares of the basic materials company’s stock valued at $1,574,670,000 after purchasing an additional 3,062,157 shares in the last quarter. Capital International Investors purchased a new stake in Air Products and Chemicals during the fourth quarter valued at $436,636,000. Finally, GAMMA Investing LLC raised its stake in Air Products and Chemicals by 31,752.0% during the first quarter. GAMMA Investing LLC now owns 1,249,871 shares of the basic materials company’s stock valued at $368,612,000 after purchasing an additional 1,245,947 shares in the last quarter. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Trading Down 1.4%

NYSE APD opened at $286.73 on Wednesday. The company’s 50-day moving average price is $279.56 and its 200-day moving average price is $290.15. 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 cap of $63.81 billion, a PE ratio of 41.68, a PEG ratio of 5.58 and a beta of 0.85. 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 posted 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 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 return on equity of 15.48% and a net margin of 12.76%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.85 earnings per share. Equities research analysts forecast 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 announced a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Tuesday, July 1st will be issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 2.50%. The ex-dividend date is Tuesday, July 1st. Air Products and Chemicals’s payout ratio is 104.07%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on APD. Citigroup upped their price target on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the company a “buy” rating in a research note on Monday, June 30th. Royal Bank Of Canada began coverage on shares of Air Products and Chemicals in a research note on Friday, June 13th. They set an “outperform” rating and a $355.00 price target on the stock. 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. Mizuho upped their price target on shares of Air Products and Chemicals from $310.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Morgan Stanley began coverage on shares of Air Products and Chemicals in a research note on Thursday, May 29th. They set an “equal weight” rating and a $290.00 price target on the stock. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $331.53.

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.