Palouse Capital Management Inc. Sells 183 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Palouse Capital Management Inc. cut its position in Air Products and Chemicals, Inc. (NYSE:APD) by 1.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,149 shares of the basic materials company’s stock after selling 183 shares during the quarter. Air Products and Chemicals comprises about 2.4% of Palouse Capital Management Inc.’s holdings, making the stock its 14th largest position. Palouse Capital Management Inc.’s holdings in Air Products and Chemicals were worth $3,583,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Generali Investments Management Co LLC bought a new stake in shares of Air Products and Chemicals in the fourth quarter valued at $26,000. Sierra Ocean LLC bought a new stake in shares of Air Products and Chemicals in the fourth quarter valued at $30,000. WR Wealth Planners LLC raised its stake in shares of Air Products and Chemicals by 40.3% in the fourth quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company’s stock valued at $31,000 after buying an additional 31 shares during the period. Financial Perspectives Inc raised its stake in shares of Air Products and Chemicals by 33.3% in the fourth quarter. Financial Perspectives Inc now owns 140 shares of the basic materials company’s stock valued at $41,000 after buying an additional 35 shares during the period. Finally, Lee Danner & Bass Inc. bought a new stake in shares of Air Products and Chemicals in the fourth quarter valued at $44,000. 81.66% of the stock is currently owned by institutional investors.

Air Products and Chemicals Trading Down 1.2%

Shares of APD stock opened at $280.02 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. The business has a 50-day moving average price of $271.69 and a two-hundred day moving average price of $294.43. Air Products and Chemicals, Inc. has a 12-month low of $243.69 and a 12-month high of $341.14. The firm has a market cap of $62.32 billion, a P/E ratio of 16.26, a price-to-earnings-growth ratio of 3.07 and a beta of 0.86.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results 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). Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period last year, the firm earned $2.85 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. Equities analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Tuesday, July 1st will be paid a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date is Tuesday, July 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 104.07%.

Analyst Ratings Changes

APD has been the subject of several recent research reports. Barclays reduced their price target on Air Products and Chemicals from $355.00 to $325.00 and set an “overweight” rating for the company in a research report on Friday, May 2nd. Morgan Stanley initiated coverage on Air Products and Chemicals in a research report on Thursday, May 29th. They issued an “equal weight” rating and a $290.00 price target for the company. Wells Fargo & Company reduced their price target on Air Products and Chemicals from $365.00 to $320.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. UBS Group reduced their price target on Air Products and Chemicals from $335.00 to $324.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Finally, Royal Bank of Canada assumed coverage on Air Products and Chemicals in a research report on Friday. They issued an “outperform” rating and a $355.00 price target for the company. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.