Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Palouse Capital Management Inc.

Palouse Capital Management Inc. cut its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 4.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,706 shares of the basic materials company’s stock after selling 331 shares during the quarter. Air Products and Chemicals comprises about 1.5% of Palouse Capital Management Inc.’s investment portfolio, making the stock its 27th biggest holding. Palouse Capital Management Inc.’s holdings in Air Products and Chemicals were worth $2,110,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Turtle Creek Wealth Advisors LLC acquired a new stake in Air Products and Chemicals during the fourth quarter valued at $27,000. Rakuten Securities Inc. bought a new stake in Air Products and Chemicals during the 4th quarter valued at approximately $33,000. Legacy Bridge LLC acquired a new stake in Air Products and Chemicals in the 4th quarter valued at approximately $35,000. FinTrust Capital Advisors LLC grew its stake in shares of Air Products and Chemicals by 40.4% in the third quarter. FinTrust Capital Advisors LLC now owns 132 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 38 shares during the last quarter. Finally, Artemis Wealth Advisors LLC bought a new position in Air Products and Chemicals during the third quarter worth $39,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Price Performance

Shares of NYSE APD traded down $1.35 during trading hours on Friday, hitting $231.67. 1,797,165 shares of the stock were exchanged, compared to its average volume of 1,747,114. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.58 and a current ratio of 1.81. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $307.71. The company has a market cap of $51.50 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 2.52 and a beta of 0.81. The company’s fifty day simple moving average is $235.88 and its two-hundred day simple moving average is $257.47.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings data on Monday, February 5th. The basic materials company reported $2.82 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($0.18). Air Products and Chemicals had a net margin of 18.82% and a return on equity of 16.84%. The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same period last year, the business earned $2.64 EPS. The company’s revenue was down 5.6% compared to the same quarter last year. On average, sell-side analysts predict that Air Products and Chemicals, Inc. will post 12.38 EPS for the current year.

Air Products and Chemicals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, April 1st will be given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date is Thursday, March 28th. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.75. Air Products and Chemicals’s dividend payout ratio is 67.56%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. TheStreet lowered Air Products and Chemicals from a “b” rating to a “c+” rating in a research note on Monday, February 5th. Argus lowered shares of Air Products and Chemicals from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Mizuho lowered their target price on shares of Air Products and Chemicals from $304.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, February 6th. TD Cowen decreased their target price on Air Products and Chemicals from $345.00 to $305.00 and set an “outperform” rating on the stock in a report on Friday, February 16th. Finally, Morgan Stanley dropped their price objective on shares of Air Products and Chemicals from $285.00 to $240.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Air Products and Chemicals has an average rating of “Hold” and a consensus target price of $276.36.

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.