RFG Advisory LLC Cuts Stake in Air Products and Chemicals, Inc. (NYSE:APD)

RFG Advisory LLC lowered its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 1.3% during the first quarter, Holdings Channel.com reports. The firm owned 7,437 shares of the basic materials company’s stock after selling 99 shares during the quarter. RFG Advisory LLC’s holdings in Air Products and Chemicals were worth $2,193,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Mantle Ridge LP purchased a new stake in Air Products and Chemicals during the 4th quarter worth about $1,191,344,000. Norges Bank acquired a new stake in Air Products and Chemicals during the 4th quarter worth approximately $919,721,000. Bank of America Corp DE increased its stake in Air Products and Chemicals by 129.4% in the 4th quarter. Bank of America Corp DE now owns 5,429,147 shares of the basic materials company’s stock valued at $1,574,670,000 after buying an additional 3,062,157 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Air Products and Chemicals during the fourth quarter worth about $885,371,000. Finally, Capital International Investors acquired a new position in Air Products and Chemicals during the 4th quarter worth approximately $436,636,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on APD. Barclays lowered their price target on shares of Air Products and Chemicals from $355.00 to $325.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. JPMorgan Chase & Co. reissued a “neutral” rating and set a $320.00 price target (down previously from $345.00) on shares of Air Products and Chemicals in a research report on Friday, February 7th. Morgan Stanley assumed coverage on shares of Air Products and Chemicals in a research report on Thursday, May 29th. They issued an “equal weight” rating and a $290.00 price objective for the company. UBS Group reduced their target price on Air Products and Chemicals from $335.00 to $324.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Finally, Wall Street Zen downgraded shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Air Products and Chemicals presently has a consensus rating of “Moderate Buy” and an average target price of $331.00.

Air Products and Chemicals Stock Down 1.0%

Shares of NYSE:APD opened at $280.50 on Thursday. The company’s fifty day moving average is $271.14 and its two-hundred day moving average is $296.84. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 1.11. Air Products and Chemicals, Inc. has a 1-year low of $243.69 and a 1-year high of $341.14. The stock has a market capitalization of $62.42 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 3.07 and a beta of 0.88.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings data on Thursday, May 1st. The basic materials company reported $2.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.14). The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.94 billion. Air Products and Chemicals had a net margin of 31.88% and a return on equity of 15.78%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.85 EPS. Equities analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Tuesday, July 1st will be given a dividend of $1.79 per share. The ex-dividend date is Tuesday, July 1st. This represents a $7.16 annualized dividend and a dividend yield of 2.55%. Air Products and Chemicals’s dividend payout ratio is presently 104.07%.

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.