Modera Wealth Management LLC Has $1.99 Million Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Key Points

• Modera Wealth Management LLC has significantly reduced its stake in Air Products and Chemicals, decreasing ownership by 53.7% during the first quarter, now holding shares valued at approximately $1,985,000.
• Analysts have set varied price targets for Air Products and Chemicals, with Citigroup raising its target to $320.00, while Barclays lowered it to $325.00, reflecting a consensus price target of $334.75.
• The company announced a quarterly dividend of $1.79 per share, resulting in an annualized dividend yield of 2.5%, with a payout ratio of over 104%.

Modera Wealth Management LLC cut its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 53.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,729 shares of the basic materials company's stock after selling 7,818 shares during the quarter. Modera Wealth Management LLC's holdings in Air Products and Chemicals were worth $1,985,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of APD. Wayfinding Financial LLC bought a new stake in shares of Air Products and Chemicals during the first quarter valued at approximately $25,000. Citizens National Bank Trust Department grew its position in Air Products and Chemicals by 833.3% in the first quarter. Citizens National Bank Trust Department now owns 112 shares of the basic materials company's stock valued at $33,000 after acquiring an additional 100 shares during the period. Sunbelt Securities Inc. grew its position in Air Products and Chemicals by 525.9% in the fourth quarter. Sunbelt Securities Inc. now owns 169 shares of the basic materials company's stock valued at $49,000 after acquiring an additional 142 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in Air Products and Chemicals in the fourth quarter valued at $50,000. Finally, Peoples Bank KS bought a new stake in Air Products and Chemicals in the first quarter valued at $59,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Air Products and Chemicals Stock Down 2.1%

Shares of NYSE:APD traded down $6.00 during mid-day trading on Friday, reaching $281.88. 1,072,180 shares of the stock were exchanged, compared to its average volume of 934,039. The company has a quick ratio of 0.85, a current ratio of 1.29 and a debt-to-equity ratio of 0.93. The company has a market cap of $62.73 billion, a P/E ratio of 40.56, a P/E/G ratio of 5.41 and a beta of 0.81. Air Products and Chemicals, Inc. has a one year low of $243.69 and a one year high of $341.14. The stock's 50 day simple moving average is $285.05 and its 200-day simple moving average is $290.36.

Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $3.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.99 by $0.10. The business had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.95 billion. Air Products and Chemicals had a return on equity of 15.11% and a net margin of 12.86%. Air Products and Chemicals's quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the company earned $3.20 earnings per share. As a group, equities research analysts predict that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Wednesday, October 1st will be paid a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Wednesday, October 1st. Air Products and Chemicals's dividend payout ratio (DPR) is currently 104.07%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on APD shares. Bank of America cut Air Products and Chemicals from a "neutral" rating to an "underperform" rating and lowered their price target for the company from $330.00 to $282.00 in a research report on Tuesday, April 15th. Barclays lowered their price target on Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Citigroup upped their price target on Air Products and Chemicals from $310.00 to $320.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Royal Bank Of Canada assumed coverage on Air Products and Chemicals in a research report on Friday, June 13th. They issued an "outperform" rating and a $355.00 price target on the stock. Finally, Wall Street Zen upgraded Air Products and Chemicals from a "sell" rating to a "hold" rating in a report on Saturday. One analyst has rated the stock with a sell rating, five have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $334.75.

Air Products and Chemicals 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.