Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Byrne Asset Management LLC

Byrne Asset Management LLC lowered its position in Air Products and Chemicals, Inc. (NYSE:APD) by 19.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 463 shares of the basic materials company’s stock after selling 110 shares during the quarter. Byrne Asset Management LLC’s holdings in Air Products and Chemicals were worth $137,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Generali Investments Management Co LLC acquired a new stake in shares of Air Products and Chemicals in the 4th quarter valued at about $26,000. Sierra Ocean LLC acquired a new stake in shares of Air Products and Chemicals in the 4th quarter valued at about $30,000. WR Wealth Planners LLC grew its position in shares of Air Products and Chemicals by 40.3% during the 4th quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company’s stock valued at $31,000 after buying an additional 31 shares during the last quarter. Financial Perspectives Inc grew its position in shares of Air Products and Chemicals by 33.3% during the 4th quarter. Financial Perspectives Inc now owns 140 shares of the basic materials company’s stock valued at $41,000 after buying an additional 35 shares during the last quarter. Finally, Lee Danner & Bass Inc. bought a new stake in shares of Air Products and Chemicals during the 4th quarter valued at about $44,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Price Performance

Shares of Air Products and Chemicals stock opened at $280.02 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 0.96. Air Products and Chemicals, Inc. has a fifty-two week low of $243.69 and a fifty-two week high of $341.14. The firm has a fifty day moving average price of $271.69 and a two-hundred day moving average price of $294.43. The company has a market cap of $62.32 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 3.07 and a beta of 0.86.

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

Air Products and Chemicals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Tuesday, July 1st will be given a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 2.56%. The ex-dividend date is Tuesday, July 1st. Air Products and Chemicals’s payout ratio is presently 104.07%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Morgan Stanley assumed coverage on shares of Air Products and Chemicals in a research report on Thursday, May 29th. They set an “equal weight” rating and a $290.00 price objective for the company. Royal Bank of Canada initiated coverage on shares of Air Products and Chemicals in a research report on Friday. They issued an “outperform” rating and a $355.00 target price for the company. Citigroup decreased their target price on shares of Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating for the company in a research report on Tuesday, March 25th. UBS Group decreased their target price on shares of Air Products and Chemicals from $335.00 to $324.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Finally, Barclays decreased their target price on shares of Air Products and Chemicals from $355.00 to $325.00 and set an “overweight” rating for the company in a research report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $332.41.

Air Products and Chemicals Company 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.