Independent Solutions Wealth Management LLC Sells 93 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Independent Solutions Wealth Management LLC trimmed its position in Air Products and Chemicals, Inc. (NYSE:APD) by 2.6% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 3,506 shares of the basic materials company’s stock after selling 93 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Air Products and Chemicals were worth $1,034,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in APD. Parvin Asset Management LLC acquired a new stake in Air Products and Chemicals in the fourth quarter worth about $715,000. Ritholtz Wealth Management grew its position in shares of Air Products and Chemicals by 20.9% during the 1st quarter. Ritholtz Wealth Management now owns 1,603 shares of the basic materials company’s stock worth $473,000 after buying an additional 277 shares during the period. Mantle Ridge LP bought a new stake in shares of Air Products and Chemicals during the fourth quarter worth approximately $1,191,344,000. Proficio Capital Partners LLC acquired a new position in Air Products and Chemicals in the fourth quarter valued at approximately $246,000. Finally, Allstate Corp bought a new position in Air Products and Chemicals in the fourth quarter valued at approximately $1,917,000. 81.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Morgan Stanley assumed 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 on the stock. Wells Fargo & Company cut their target price on Air Products and Chemicals from $365.00 to $320.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Barclays decreased their target price on 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. Citigroup cut their price target on shares of Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. Finally, UBS Group decreased their price objective on shares of Air Products and Chemicals from $335.00 to $324.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $332.41.

Air Products and Chemicals Trading Up 2.8%

Shares of NYSE:APD opened at $280.91 on Wednesday. The company’s 50-day moving average price is $273.26 and its two-hundred day moving average price is $291.59. Air Products and Chemicals, Inc. has a one year low of $243.69 and a one year high of $341.14. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.00 and a quick ratio of 0.85. The stock has a market capitalization of $62.51 billion, a PE ratio of 40.83, a price-to-earnings-growth ratio of 5.24 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 EPS for the quarter, missing the consensus estimate 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 12.76% and a return on equity of 15.48%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the company posted $2.85 earnings per share. On average, equities analysts forecast 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 disclosed a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Tuesday, July 1st will be paid 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 presently 104.07%.

About Air Products and Chemicals

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.