Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Palouse Capital Management Inc.

Palouse Capital Management Inc. lowered its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 4.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,706 shares of the basic materials company’s stock after selling 331 shares during the period. Air Products and Chemicals accounts for approximately 1.5% of Palouse Capital Management Inc.’s holdings, making the stock its 27th biggest position. Palouse Capital Management Inc.’s holdings in Air Products and Chemicals were worth $2,110,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of APD. Dover Advisors LLC grew its position in Air Products and Chemicals by 1.9% during the third quarter. Dover Advisors LLC now owns 1,894 shares of the basic materials company’s stock valued at $540,000 after purchasing an additional 35 shares in the last quarter. Smithfield Trust Co grew its position in Air Products and Chemicals by 2.4% in the 3rd quarter. Smithfield Trust Co now owns 1,566 shares of the basic materials company’s stock worth $444,000 after purchasing an additional 36 shares during the last quarter. Salem Investment Counselors Inc. increased its stake in Air Products and Chemicals by 25.9% during the fourth quarter. Salem Investment Counselors Inc. now owns 180 shares of the basic materials company’s stock valued at $56,000 after acquiring an additional 37 shares during the period. Vestcor Inc raised its stake in shares of Air Products and Chemicals by 0.7% in the fourth quarter. Vestcor Inc now owns 5,261 shares of the basic materials company’s stock valued at $1,622,000 after purchasing an additional 37 shares in the last quarter. Finally, Columbia Trust Co 01012016 raised its stake in shares of Air Products and Chemicals by 0.7% in the 3rd quarter. Columbia Trust Co 01012016 now owns 5,502 shares of the basic materials company’s stock valued at $1,559,000 after buying an additional 38 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Air Products and Chemicals Trading Down 0.6 %

NYSE:APD traded down $1.35 during midday trading on Friday, reaching $231.67. 1,797,165 shares of the stock traded hands, compared to its average volume of 1,747,114. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.58 and a current ratio of 1.81. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $307.71. The stock has a market capitalization of $51.50 billion, a P/E ratio of 22.11, a PEG ratio of 2.52 and a beta of 0.81. The company has a fifty day moving average of $235.88 and a 200 day moving average of $257.47.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results on Monday, February 5th. The basic materials company reported $2.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.00 by ($0.18). The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.20 billion. Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. Air Products and Chemicals’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.64 EPS. On average, research analysts predict that Air Products and Chemicals, Inc. will post 12.38 EPS for the current year.

Air Products and Chemicals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Monday, April 1st will be given a dividend of $1.77 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $7.08 annualized dividend and a dividend yield of 3.06%. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.75. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 67.56%.

Wall Street Analyst Weigh In

Several brokerages recently commented on APD. BMO Capital Markets decreased their price target on Air Products and Chemicals from $307.00 to $250.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 6th. Morgan Stanley reduced their target price on Air Products and Chemicals from $285.00 to $240.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 7th. Seaport Res Ptn downgraded Air Products and Chemicals from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 6th. JPMorgan Chase & Co. lowered their price objective on shares of Air Products and Chemicals from $295.00 to $270.00 and set an “overweight” rating for the company in a research report on Tuesday, February 6th. Finally, Barclays dropped their price target on Air Products and Chemicals from $260.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $276.36.

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.