Berkshire Bank Has $509,000 Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Berkshire Bank trimmed its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 2.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,726 shares of the basic materials company’s stock after selling 50 shares during the period. Berkshire Bank’s holdings in Air Products and Chemicals were worth $509,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of APD. Brighton Jones LLC boosted its stake in shares of Air Products and Chemicals by 14.5% during the 4th quarter. Brighton Jones LLC now owns 3,260 shares of the basic materials company’s stock worth $945,000 after buying an additional 412 shares during the last quarter. Congress Asset Management Co. raised its holdings in shares of Air Products and Chemicals by 251.8% in the 4th quarter. Congress Asset Management Co. now owns 7,737 shares of the basic materials company’s stock valued at $2,244,000 after purchasing an additional 5,538 shares during the period. Everhart Financial Group Inc. raised its holdings in shares of Air Products and Chemicals by 10.1% in the 4th quarter. Everhart Financial Group Inc. now owns 1,200 shares of the basic materials company’s stock valued at $348,000 after purchasing an additional 110 shares during the period. Allworth Financial LP raised its holdings in shares of Air Products and Chemicals by 25.0% in the 4th quarter. Allworth Financial LP now owns 3,718 shares of the basic materials company’s stock valued at $1,178,000 after purchasing an additional 743 shares during the period. Finally, Sheaff Brock Investment Advisors LLC raised its holdings in shares of Air Products and Chemicals by 2.6% in the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 1,561 shares of the basic materials company’s stock valued at $453,000 after purchasing an additional 39 shares during the period. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Air Products and Chemicals Stock Performance

Shares of NYSE:APD opened at $280.49 on Tuesday. The company’s 50 day moving average price is $272.36 and its two-hundred day moving average price is $293.51. Air Products and Chemicals, Inc. has a 12-month low of $243.69 and a 12-month high of $341.14. The firm has a market cap of $62.42 billion, a PE ratio of 16.29, a PEG ratio of 3.07 and a beta of 0.86. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71.

Air Products and Chemicals (NYSE:APD) last announced its earnings results 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). Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. The business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the previous year, the company earned $2.85 EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis. Equities research analysts predict that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Tuesday, July 1st will be given a dividend of $1.79 per share. The ex-dividend date of this dividend 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 104.07%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on APD. Barclays dropped their target price 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. Wells Fargo & Company dropped their target price 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. Bank of America cut shares of Air Products and Chemicals from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $330.00 to $282.00 in a report on Tuesday, April 15th. Morgan Stanley initiated coverage on shares of Air Products and Chemicals in a report on Thursday, May 29th. They issued an “equal weight” rating and a $290.00 price target on the stock. Finally, Royal Bank of Canada initiated coverage on shares of Air Products and Chemicals in a report on Friday. They issued an “outperform” rating and a $355.00 price target on the stock. 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.