ProVise Management Group LLC Decreases Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

ProVise Management Group LLC reduced its position in Air Products and Chemicals, Inc. (NYSE:APD) by 0.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,201 shares of the basic materials company’s stock after selling 131 shares during the period. ProVise Management Group LLC’s holdings in Air Products and Chemicals were worth $5,257,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. WealthPlan Investment Management LLC raised its position in shares of Air Products and Chemicals by 3,439.9% in the third quarter. WealthPlan Investment Management LLC now owns 23,045 shares of the basic materials company’s stock valued at $6,531,000 after buying an additional 22,394 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Air Products and Chemicals during the third quarter worth about $243,000. Larson Financial Group LLC boosted its stake in Air Products and Chemicals by 620.0% in the 3rd quarter. Larson Financial Group LLC now owns 396 shares of the basic materials company’s stock worth $112,000 after buying an additional 341 shares during the last quarter. Signaturefd LLC grew its holdings in Air Products and Chemicals by 5.0% in the 3rd quarter. Signaturefd LLC now owns 3,300 shares of the basic materials company’s stock valued at $935,000 after buying an additional 156 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Air Products and Chemicals by 16.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 602 shares of the basic materials company’s stock valued at $171,000 after acquiring an additional 85 shares during the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

APD has been the subject of a number of recent analyst reports. Morgan Stanley lowered their target price on shares of Air Products and Chemicals from $285.00 to $240.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. TheStreet downgraded Air Products and Chemicals from a “b” rating to a “c+” rating in a report on Monday, February 5th. Bank of America lifted their target price on Air Products and Chemicals from $272.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Wells Fargo & Company downgraded Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a report on Monday, February 5th. Finally, Wolfe Research initiated coverage on Air Products and Chemicals in a report on Friday, March 1st. They set an “outperform” rating and a $279.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $273.77.

Air Products and Chemicals Stock Up 0.6 %

Shares of APD stock traded up $1.61 during mid-day trading on Friday, reaching $264.61. 1,070,486 shares of the company were exchanged, compared to its average volume of 1,714,799. The company has a market capitalization of $58.83 billion, a P/E ratio of 23.74, a P/E/G ratio of 2.87 and a beta of 0.80. The business’s 50 day simple moving average is $242.53 and its 200 day simple moving average is $251.61. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.31 and a current ratio of 1.49. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $307.71.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.70 by $0.15. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the previous year, the firm earned $2.74 EPS. The company’s revenue was down 8.4% on a year-over-year basis. Research analysts predict that Air Products and Chemicals, Inc. will post 12.3 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 12th. Stockholders of record on Monday, July 1st will be issued a $1.77 dividend. The ex-dividend date is Friday, June 28th. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.68%. Air Products and Chemicals’s dividend payout ratio (DPR) is 63.90%.

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.