Perkins Coie Trust Co Sells 5,695 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Perkins Coie Trust Co trimmed its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 96.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 217 shares of the basic materials company’s stock after selling 5,695 shares during the quarter. Perkins Coie Trust Co’s holdings in Air Products and Chemicals were worth $53,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Personal CFO Solutions LLC increased its position in Air Products and Chemicals by 6.2% during the 3rd quarter. Personal CFO Solutions LLC now owns 2,352 shares of the basic materials company’s stock valued at $667,000 after buying an additional 137 shares in the last quarter. Asset Dedication LLC grew its stake in shares of Air Products and Chemicals by 5.8% in the third quarter. Asset Dedication LLC now owns 3,028 shares of the basic materials company’s stock worth $859,000 after acquiring an additional 167 shares during the last quarter. Certified Advisory Corp bought a new position in shares of Air Products and Chemicals during the third quarter valued at $686,000. Jacobi Capital Management LLC raised its position in shares of Air Products and Chemicals by 8.6% in the 3rd quarter. Jacobi Capital Management LLC now owns 7,198 shares of the basic materials company’s stock worth $2,040,000 after purchasing an additional 569 shares during the last quarter. Finally, Natixis Advisors L.P. boosted its stake in Air Products and Chemicals by 7.5% in the 3rd quarter. Natixis Advisors L.P. now owns 144,812 shares of the basic materials company’s stock worth $41,040,000 after purchasing an additional 10,163 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on APD. JPMorgan Chase & Co. decreased their target price on shares of Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. TD Cowen increased their target price on Air Products and Chemicals from $305.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft boosted their price target on Air Products and Chemicals from $260.00 to $310.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Morgan Stanley lifted their price objective on Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 5th. Finally, Barclays upped their target price on shares of Air Products and Chemicals from $245.00 to $290.00 and gave the company an “equal weight” rating in a research note on Monday, June 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Air Products and Chemicals presently has an average rating of “Hold” and a consensus target price of $287.29.

Air Products and Chemicals Price Performance

Shares of APD traded down $2.01 during mid-day trading on Monday, hitting $270.90. 2,876,438 shares of the stock were exchanged, compared to its average volume of 1,705,863. The firm has a 50-day moving average of $257.13 and a two-hundred day moving average of $251.80. Air Products and Chemicals, Inc. has a 52-week low of $212.24 and a 52-week high of $307.71. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.31 and a current ratio of 1.49. The company has a market cap of $60.22 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 2.95 and a beta of 0.84.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the prior year, the firm earned $2.74 earnings per share. Air Products and Chemicals’s revenue was down 8.4% on a year-over-year basis. On average, equities 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 business also recently declared a quarterly dividend, which will be paid on Monday, August 12th. Investors of record on Monday, July 1st will be given a $1.77 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $7.08 dividend on an annualized basis and a yield of 2.61%. Air Products and Chemicals’s dividend payout ratio is presently 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.