Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Adirondack Trust Co.

Adirondack Trust Co. trimmed its position in Air Products and Chemicals, Inc. (NYSE:APDFree Report) by 5.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,085 shares of the basic materials company’s stock after selling 58 shares during the period. Adirondack Trust Co.’s holdings in Air Products and Chemicals were worth $297,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Turtle Creek Wealth Advisors LLC purchased a new position in Air Products and Chemicals in the fourth quarter valued at $27,000. Roble Belko & Company Inc acquired a new position in shares of Air Products and Chemicals during the 4th quarter worth about $27,000. Sachetta LLC purchased a new position in shares of Air Products and Chemicals in the 4th quarter valued at about $27,000. Security National Bank acquired a new stake in shares of Air Products and Chemicals during the 4th quarter worth about $27,000. Finally, Transcendent Capital Group LLC purchased a new stake in Air Products and Chemicals during the fourth quarter worth approximately $28,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

APD has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Argus downgraded Air Products and Chemicals from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Bank of America upped their price objective on shares of Air Products and Chemicals from $275.00 to $312.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. TD Cowen raised their target price on shares of Air Products and Chemicals from $305.00 to $320.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, StockNews.com lowered shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Thursday, June 13th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Air Products and Chemicals has an average rating of “Hold” and a consensus target price of $287.29.

Check Out Our Latest Stock Analysis on Air Products and Chemicals

Air Products and Chemicals Price Performance

NYSE APD traded down $1.32 during mid-day trading on Tuesday, hitting $271.79. The stock had a trading volume of 180,548 shares, compared to its average volume of 1,685,347. The company has a 50 day simple moving average of $253.31 and a 200 day simple moving average of $251.54. The company has a market cap of $60.42 billion, a price-to-earnings ratio of 24.63, a P/E/G ratio of 2.98 and a beta of 0.84. Air Products and Chemicals, Inc. has a 52-week low of $212.24 and a 52-week high of $307.71. The company has a quick ratio of 1.31, a current ratio of 1.49 and a debt-to-equity ratio of 0.77.

Air Products and Chemicals (NYSE:APDGet Free Report) last posted its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.70 by $0.15. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $3.05 billion. Air Products and Chemicals had a return on equity of 16.56% and a net margin of 20.32%. Air Products and Chemicals’s revenue was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.74 earnings per share. Equities analysts forecast that Air Products and Chemicals, Inc. will post 12.3 EPS for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Shareholders of record on Monday, July 1st will be given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Monday, July 1st. Air Products and Chemicals’s payout ratio is currently 63.90%.

About Air Products and Chemicals

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Air Products and Chemicals (NYSE:APD)

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