Richard C. Young & CO. LTD. Cuts Position in Air Products and Chemicals, Inc. (NYSE:APD)

Richard C. Young & CO. LTD. lessened its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 4.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,874 shares of the basic materials company’s stock after selling 2,282 shares during the quarter. Richard C. Young & CO. LTD.’s holdings in Air Products and Chemicals were worth $14,414,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in APD. Wayfinding Financial LLC purchased a new position in Air Products and Chemicals during the 1st quarter valued at about $25,000. Generali Investments Management Co LLC acquired a new stake in shares of Air Products and Chemicals during the 4th quarter worth about $26,000. Citizens National Bank Trust Department boosted its stake in shares of Air Products and Chemicals by 833.3% during the 1st quarter. Citizens National Bank Trust Department now owns 112 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 100 shares during the last quarter. Lee Danner & Bass Inc. acquired a new stake in shares of Air Products and Chemicals during the 4th quarter worth about $44,000. Finally, Sunbelt Securities Inc. boosted its stake in shares of Air Products and Chemicals by 525.9% during the 4th quarter. Sunbelt Securities Inc. now owns 169 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 142 shares during the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on APD. Royal Bank Of Canada started coverage on shares of Air Products and Chemicals in a research report on Friday, June 13th. They issued an “outperform” rating and a $355.00 target price on the stock. Citigroup lifted 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 report on Monday, June 30th. Wells Fargo & Company lifted their price target on shares of Air Products and Chemicals from $320.00 to $345.00 and gave the company an “overweight” rating in a research report on Monday. Barclays reduced their price target on shares of Air Products and Chemicals from $355.00 to $325.00 and set an “overweight” rating on the stock in a research report on Friday, May 2nd. Finally, Mizuho lifted 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 report on Tuesday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $331.53.

Air Products and Chemicals Price Performance

NYSE APD opened at $289.14 on Thursday. The stock’s 50-day moving average price is $280.06 and its two-hundred day moving average price is $290.14. 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 company has a market cap of $64.35 billion, a PE ratio of 42.03, a PEG ratio of 5.50 and a beta of 0.85. Air Products and Chemicals, Inc. has a 1 year low of $243.69 and a 1 year high of $341.14.

Air Products and Chemicals (NYSE:APD) last posted 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). The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.94 billion. Air Products and Chemicals had a return on equity of 15.48% and a net margin of 12.76%. Air Products and Chemicals’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.85 EPS. On average, analysts predict that Air Products and Chemicals, Inc. will post 12.69 EPS 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. Stockholders of record on Tuesday, July 1st will be issued a $1.79 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.48%. Air Products and Chemicals’s dividend payout ratio is 104.07%.

Air Products and Chemicals 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.