Beacon Financial Group Reduces Position in Air Products and Chemicals, Inc. (NYSE:APD)

Beacon Financial Group lessened its position 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 Form 13F filing with the Securities and Exchange Commission. The firm owned 16,730 shares of the basic materials company's stock after selling 1,674 shares during the period. Beacon Financial Group's holdings in Air Products and Chemicals were worth $4,934,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Generali Investments Management Co LLC acquired a new position in Air Products and Chemicals in the 4th quarter worth $26,000. Sierra Ocean LLC bought a new stake in Air Products and Chemicals in the 4th quarter valued at about $30,000. WR Wealth Planners LLC raised its holdings in shares of Air Products and Chemicals by 40.3% during the fourth quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company's stock valued at $31,000 after buying an additional 31 shares during the last quarter. Hager Investment Management Services LLC acquired a new position in Air Products and Chemicals during the 4th quarter worth $39,000. Finally, Financial Perspectives Inc grew its position in Air Products and Chemicals by 33.3% in the 4th quarter. Financial Perspectives Inc now owns 140 shares of the basic materials company's stock valued at $41,000 after buying an additional 35 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Air Products and Chemicals Stock Performance

Shares of APD stock traded up $3.72 during trading hours on Friday, reaching $279.94. The company had a trading volume of 1,078,622 shares, compared to its average volume of 1,444,760. The firm has a market cap of $62.30 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 3.07 and a beta of 0.88. 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 0.71, a quick ratio of 0.96 and a current ratio of 1.11. The business has a fifty day moving average price of $270.77 and a 200-day moving average price of $296.48.

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 earnings per share for the quarter, missing analysts' consensus estimates of $2.83 by ($0.14). Air Products and Chemicals had a net margin of 31.88% and a return on equity of 15.78%. The firm had revenue of $2.92 billion for the quarter, compared to analysts' expectations of $2.94 billion. During the same quarter last year, the firm posted $2.85 EPS. The firm's quarterly revenue was down .5% compared to the same quarter last year. Sell-side analysts predict that Air Products and Chemicals, Inc. will post 12.69 earnings per share 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 11th. Shareholders of record on Tuesday, July 1st will be paid a $1.79 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $7.16 dividend on an annualized basis and a yield of 2.56%. Air Products and Chemicals's payout ratio is 104.07%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wells Fargo & Company reduced their price target on shares of 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 cut shares of Air Products and Chemicals from a "neutral" rating to an "underperform" rating and dropped their price objective for the company from $330.00 to $282.00 in a research note on Tuesday, April 15th. UBS Group lowered their price target on Air Products and Chemicals from $335.00 to $324.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. BNP Paribas raised shares of Air Products and Chemicals to a "strong-buy" rating in a report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and set a $320.00 price objective (down previously from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $331.00.

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.