Kingswood Wealth Advisors LLC Has $1.94 Million Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Kingswood Wealth Advisors LLC cut its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 46.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,014 shares of the basic materials company’s stock after selling 6,873 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Air Products and Chemicals were worth $1,942,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Research Global Investors boosted its holdings in shares of Air Products and Chemicals by 167.2% during the 4th quarter. Capital Research Global Investors now owns 6,921,011 shares of the basic materials company’s stock worth $1,894,973,000 after buying an additional 4,330,471 shares in the last quarter. Norges Bank acquired a new position in shares of Air Products and Chemicals during the fourth quarter valued at about $852,288,000. Nordea Investment Management AB grew its stake in shares of Air Products and Chemicals by 1,696.4% in the 4th quarter. Nordea Investment Management AB now owns 518,197 shares of the basic materials company’s stock valued at $142,344,000 after buying an additional 489,350 shares during the period. Morningstar Investment Services LLC increased its position in Air Products and Chemicals by 96.4% in the 4th quarter. Morningstar Investment Services LLC now owns 684,057 shares of the basic materials company’s stock valued at $187,589,000 after buying an additional 335,717 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in Air Products and Chemicals by 26,852.1% during the 4th quarter. International Assets Investment Management LLC now owns 275,720 shares of the basic materials company’s stock worth $754,920,000 after buying an additional 274,697 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Stock Down 1.3 %

APD stock traded down $3.41 during midday trading on Wednesday, hitting $263.68. The stock had a trading volume of 6,456,144 shares, compared to its average volume of 1,761,110. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.49 and a quick ratio of 1.31. The firm has a market cap of $58.62 billion, a price-to-earnings ratio of 23.80, a price-to-earnings-growth ratio of 2.89 and a beta of 0.84. The business has a 50-day moving average of $257.91 and a two-hundred day moving average of $251.83. Air Products and Chemicals, Inc. has a 52-week low of $212.24 and a 52-week high of $307.71.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $3.05 billion. During the same period last year, the business earned $2.74 EPS. Air Products and Chemicals’s quarterly revenue was down 8.4% compared to the same quarter last year. As a group, equities research analysts forecast that Air Products and Chemicals, Inc. will post 12.3 earnings per share for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 12th. Investors of record on Monday, July 1st will be given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Monday, July 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 63.90%.

Wall Street Analyst Weigh In

Several research firms have recently commented on APD. Wolfe Research started coverage on Air Products and Chemicals in a report on Friday, March 1st. They set an “outperform” rating and a $279.00 price objective for the company. Morgan Stanley upped their price target 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. Deutsche Bank Aktiengesellschaft boosted their target price 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. TD Cowen lifted their price objective on shares of 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, Mizuho cut their price target on Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $287.29.

About Air Products and Chemicals

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.