Air Products and Chemicals, Inc. $APD Stock Sold by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. reduced its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 30.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,845 shares of the basic materials company’s stock after selling 1,659 shares during the period. Confluence Wealth Services Inc.’s holdings in Air Products and Chemicals were worth $1,070,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of APD. Fiduciary Financial Advisors acquired a new position in Air Products and Chemicals during the second quarter valued at approximately $25,000. Cornerstone Planning Group LLC lifted its holdings in shares of Air Products and Chemicals by 318.2% in the first quarter. Cornerstone Planning Group LLC now owns 92 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 70 shares in the last quarter. Main Street Group LTD bought a new position in shares of Air Products and Chemicals during the 1st quarter worth approximately $27,000. MJT & Associates Financial Advisory Group Inc. grew its position in Air Products and Chemicals by 77.6% in the third quarter. MJT & Associates Financial Advisory Group Inc. now owns 103 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 45 shares in the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of Air Products and Chemicals in the third quarter valued at about $30,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Air Products and Chemicals Trading Up 0.9%

APD stock opened at $315.02 on Thursday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.07 and a quick ratio of 0.91. The company has a fifty day moving average price of $295.22 and a two-hundred day moving average price of $291.67. Air Products and Chemicals, Inc. has a one year low of $229.11 and a one year high of $324.00. The stock has a market cap of $70.15 billion, a price-to-earnings ratio of 23.23, a price-to-earnings-growth ratio of 3.11 and a beta of 0.67.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings data on Thursday, November 5th. The basic materials company reported $3.61 EPS for the quarter, meeting the consensus estimate of $3.61. The firm had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.33 billion. Air Products and Chemicals had a net margin of 4.10% and a return on equity of 17.19%. The company’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the company earned $3.39 earnings per share. Equities analysts anticipate that Air Products and Chemicals, Inc. will post 14.35 EPS for the current year.

Air Products and Chemicals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 8th. Shareholders of record on Monday, January 4th will be issued a $1.81 dividend. This represents a $7.24 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Monday, January 4th. Air Products and Chemicals’s dividend payout ratio is currently 304.20%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Air Products and Chemicals from $340.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Morgan Stanley set a $320.00 price objective on shares of Air Products and Chemicals in a research report on Monday, August 3rd. Deutsche Bank restated a “hold” rating and set a $320.00 price objective on shares of Air Products and Chemicals in a research note on Monday, August 3rd. Royal Bank Of Canada upped their target price on shares of Air Products and Chemicals from $346.00 to $359.00 and gave the company an “outperform” rating in a report on Friday, November 6th. Finally, Barclays cut their target price on shares of Air Products and Chemicals from $353.00 to $346.00 and set an “overweight” rating for the company in a research note on Friday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Air Products and Chemicals currently has an average rating of “Moderate Buy” and an average target price of $335.59.

About Air Products and Chemicals

Air Products and Chemicals is an industrial gases company that supplies gases, related equipment and services to businesses and institutions. Its products include atmospheric gases such as oxygen, nitrogen and argon, as well as hydrogen, helium, carbon dioxide and specialty gases. The company serves a range of industries, including refining, chemicals, metals, electronics, food and healthcare. Its offerings support industrial processes and applications such as gas production and distribution, materials processing and process technology.