Pallas Capital Advisors LLC Sells 334 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Pallas Capital Advisors LLC lowered its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 12.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,396 shares of the basic materials company’s stock after selling 334 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Air Products and Chemicals were worth $707,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Daymark Wealth Partners LLC grew its position in Air Products and Chemicals by 19.5% during the first quarter. Daymark Wealth Partners LLC now owns 2,692 shares of the basic materials company’s stock valued at $794,000 after buying an additional 439 shares during the period. Portside Wealth Group LLC lifted its holdings in Air Products and Chemicals by 35.3% during the first quarter. Portside Wealth Group LLC now owns 3,380 shares of the basic materials company’s stock valued at $997,000 after purchasing an additional 882 shares during the last quarter. Capital Investment Advisors LLC lifted its holdings in Air Products and Chemicals by 1.4% during the first quarter. Capital Investment Advisors LLC now owns 5,540 shares of the basic materials company’s stock valued at $1,634,000 after purchasing an additional 77 shares during the last quarter. Wedge Capital Management L L P NC lifted its holdings in Air Products and Chemicals by 15.8% during the first quarter. Wedge Capital Management L L P NC now owns 29,025 shares of the basic materials company’s stock valued at $8,560,000 after purchasing an additional 3,963 shares during the last quarter. Finally, OLD National Bancorp IN lifted its holdings in Air Products and Chemicals by 2.8% during the first quarter. OLD National Bancorp IN now owns 5,924 shares of the basic materials company’s stock valued at $1,747,000 after purchasing an additional 161 shares during the last quarter. Institutional investors own 81.66% of the company’s stock.

Analysts Set New Price Targets

APD has been the topic of several recent research reports. Citigroup dropped their price objective on shares of Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. Barclays dropped their price objective on shares of Air Products and Chemicals from $355.00 to $325.00 and set an “overweight” rating on the stock in a report on Friday, May 2nd. UBS Group dropped their price objective on shares of Air Products and Chemicals from $335.00 to $324.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Bank of America downgraded shares of Air Products and Chemicals from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $330.00 to $282.00 in a report on Tuesday, April 15th. Finally, Wells Fargo & Company lowered their price target on shares of Air Products and Chemicals from $365.00 to $320.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Air Products and Chemicals currently has an average rating of “Moderate Buy” and a consensus price target of $331.00.

Air Products and Chemicals Stock Up 0.1%

APD stock opened at $282.25 on Thursday. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71. The company’s 50 day moving average is $270.55 and its 200 day moving average is $295.16. The stock has a market cap of $62.81 billion, a price-to-earnings ratio of 16.39, a price-to-earnings-growth ratio of 3.07 and a beta of 0.86. Air Products and Chemicals, Inc. has a 1-year low of $243.69 and a 1-year high of $341.14.

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

Air Products and Chemicals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Tuesday, July 1st will be issued a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Tuesday, July 1st. Air Products and Chemicals’s dividend payout ratio is 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.