Donaldson Capital Management LLC Sells 1,288 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Donaldson Capital Management LLC trimmed its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 9.1% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 12,854 shares of the basic materials company's stock after selling 1,288 shares during the quarter. Donaldson Capital Management LLC's holdings in Air Products and Chemicals were worth $3,791,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Parvin Asset Management LLC bought a new stake in shares of Air Products and Chemicals during the 4th quarter valued at $715,000. Kestra Investment Management LLC lifted its position in shares of Air Products and Chemicals by 44.2% during the 4th quarter. Kestra Investment Management LLC now owns 4,804 shares of the basic materials company's stock worth $1,393,000 after buying an additional 1,473 shares during the last quarter. Root Financial Partners LLC bought a new stake in shares of Air Products and Chemicals during the 4th quarter worth $267,000. Highview Capital Management LLC DE bought a new stake in shares of Air Products and Chemicals during the 4th quarter worth $590,000. Finally, Mantle Ridge LP bought a new stake in shares of Air Products and Chemicals during the 4th quarter worth $1,191,344,000. 81.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

APD has been the subject of several recent analyst reports. Morgan Stanley initiated coverage on Air Products and Chemicals in a research report on Thursday, May 29th. They set an "equal weight" rating and a $290.00 price objective for the company. Wells Fargo & Company dropped their target price on Air Products and Chemicals from $365.00 to $320.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Bank of America downgraded 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 research report on Tuesday, April 15th. UBS Group dropped their target price on Air Products and Chemicals from $335.00 to $324.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, Citigroup dropped their target price on Air Products and Chemicals from $373.00 to $345.00 and set a "buy" rating for the company in a research report on Tuesday, March 25th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $331.00.

Air Products and Chemicals Trading Up 0.3%

Shares of APD stock traded up $0.96 on Thursday, hitting $283.17. The company had a trading volume of 678,356 shares, compared to its average volume of 1,432,862. The stock's 50-day moving average is $271.04 and its two-hundred day moving average is $294.81. Air Products and Chemicals, Inc. has a twelve month low of $243.69 and a twelve month high of $341.14. The firm has a market cap of $63.02 billion, a P/E ratio of 16.44, a P/E/G ratio of 3.07 and a beta of 0.86. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 1.11.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its 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). 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 period in the prior year, the business earned $2.85 EPS. The company's revenue for the quarter was down .5% on a year-over-year basis. On average, equities research analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Investors 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 yield of 2.53%. Air Products and Chemicals's dividend payout ratio is currently 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.