EP Wealth Advisors LLC Lowers Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

EP Wealth Advisors LLC lowered its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 6.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,253 shares of the basic materials company’s stock after selling 374 shares during the period. EP Wealth Advisors LLC’s holdings in Air Products and Chemicals were worth $1,273,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in APD. Turtle Creek Wealth Advisors LLC purchased a new stake in Air Products and Chemicals during the fourth quarter valued at about $27,000. Roble Belko & Company Inc purchased a new stake in Air Products and Chemicals during the fourth quarter valued at about $27,000. Sachetta LLC purchased a new stake in Air Products and Chemicals during the fourth quarter valued at about $27,000. Security National Bank purchased a new stake in Air Products and Chemicals during the fourth quarter valued at about $27,000. Finally, Transcendent Capital Group LLC purchased a new stake in Air Products and Chemicals during the fourth quarter valued at about $28,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on APD shares. Bank of America upped their target price on Air Products and Chemicals from $275.00 to $312.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. JPMorgan Chase & Co. decreased their target price on Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Mizuho decreased their target price on Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. TD Cowen upped their target price on Air Products and Chemicals from $305.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, Barclays boosted their price target on Air Products and Chemicals from $245.00 to $290.00 and gave the stock an “equal weight” rating in a research note on Monday, June 10th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $289.29.

Air Products and Chemicals Price Performance

Shares of NYSE:APD traded up $2.34 on Friday, reaching $260.98. 1,042,927 shares of the company traded hands, compared to its average volume of 1,659,557. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $307.71. The company’s 50 day moving average is $265.00 and its 200-day moving average is $249.96. The stock has a market capitalization of $58.02 billion, a PE ratio of 23.56, a P/E/G ratio of 2.86 and a beta of 0.81. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.49 and a quick ratio of 1.31.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.70 by $0.15. Air Products and Chemicals had a return on equity of 16.56% and a net margin of 20.32%. 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 prior year, the firm earned $2.74 EPS. The company’s quarterly revenue was down 8.4% compared to the same quarter last year. As a group, analysts anticipate that Air Products and Chemicals, Inc. will post 12.26 earnings per share for the current fiscal year.

Air Products and Chemicals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, October 1st will be issued a $1.77 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.71%. Air Products and Chemicals’s payout ratio is currently 63.90%.

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.