Beacon Financial Group Sells 1,674 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Beacon Financial Group trimmed its position in Air Products and Chemicals, Inc. (NYSE:APD) by 9.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,730 shares of the basic materials company’s stock after selling 1,674 shares during the period. Beacon Financial Group’s holdings in Air Products and Chemicals were worth $4,934,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of APD. Generali Investments Management Co LLC acquired a new position in Air Products and Chemicals during the 4th quarter worth approximately $26,000. Sierra Ocean LLC bought a new stake in shares of Air Products and Chemicals in the fourth quarter worth $30,000. WR Wealth Planners LLC lifted its position in shares of Air Products and Chemicals by 40.3% in the fourth quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 31 shares in the last quarter. Hager Investment Management Services LLC acquired a new position in Air Products and Chemicals during the fourth quarter worth $39,000. Finally, Financial Perspectives Inc grew its position in Air Products and Chemicals by 33.3% in the fourth quarter. Financial Perspectives Inc now owns 140 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 35 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

APD has been the subject of a number of recent research reports. 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. Morgan Stanley started coverage on Air Products and Chemicals in a research note on Thursday, May 29th. They issued an “equal weight” rating and a $290.00 price target for the company. Wells Fargo & Company lowered their price target on Air Products and Chemicals from $365.00 to $320.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. BNP Paribas raised Air Products and Chemicals to a “strong-buy” rating in a report on Tuesday, February 11th. 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 note on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $331.00.

Air Products and Chemicals Stock Down 1.0%

Air Products and Chemicals stock opened at $280.50 on Thursday. The company’s 50-day moving average price is $271.14 and its two-hundred day moving average price is $296.84. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. The stock has a market cap of $62.42 billion, a P/E ratio of 16.29, a P/E/G ratio of 3.07 and a beta of 0.88. Air Products and Chemicals, Inc. has a twelve month low of $243.69 and a twelve month high of $341.14.

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 for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.14). The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.94 billion. Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. Air Products and Chemicals’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the business posted $2.85 EPS. As a group, analysts expect that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Tuesday, July 1st will be paid a $1.79 dividend. 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 (DPR) is presently 104.07%.

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.