Envestnet Portfolio Solutions Inc. Lowers Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Envestnet Portfolio Solutions Inc. decreased its holdings in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 29.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,304 shares of the basic materials company's stock after selling 3,387 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Air Products and Chemicals were worth $2,449,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Generali Investments Management Co LLC purchased a new position in shares of Air Products and Chemicals during the fourth quarter worth about $26,000. WR Wealth Planners LLC lifted its position in Air Products and Chemicals by 40.3% during the 4th quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company's stock worth $31,000 after acquiring an additional 31 shares during the period. Lee Danner & Bass Inc. acquired a new stake in Air Products and Chemicals during the 4th quarter worth approximately $44,000. Sunbelt Securities Inc. grew its stake in shares of Air Products and Chemicals by 525.9% in the 4th quarter. Sunbelt Securities Inc. now owns 169 shares of the basic materials company's stock valued at $49,000 after purchasing an additional 142 shares during the last quarter. Finally, Whipplewood Advisors LLC acquired a new position in shares of Air Products and Chemicals in the fourth quarter valued at approximately $50,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Down 1.6%

APD stock opened at $270.98 on Monday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.00 and a quick ratio of 0.85. The company's 50 day simple moving average is $272.94 and its 200-day simple moving average is $291.99. Air Products and Chemicals, Inc. has a 12 month low of $243.69 and a 12 month high of $341.14. The firm has a market capitalization of $60.30 billion, a PE ratio of 39.39, a P/E/G ratio of 5.19 and a beta of 0.86.

Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The basic materials company reported $2.69 EPS for the quarter, missing analysts' consensus estimates of $2.83 by ($0.14). Air Products and Chemicals had a net margin of 12.76% and a return on equity of 15.48%. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period in the previous year, the business earned $2.85 EPS. The firm's revenue was down .5% on a year-over-year basis. Equities analysts expect 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 disclosed a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Tuesday, July 1st. Air Products and Chemicals's dividend payout ratio (DPR) is 104.07%.

Analysts Set New Price Targets

APD has been the topic of a number of analyst reports. Wells Fargo & Company lowered their price objective on shares of Air Products and Chemicals from $365.00 to $320.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Citigroup lowered their target price on shares of Air Products and Chemicals from $373.00 to $345.00 and set a "buy" rating on the stock in a report on Tuesday, March 25th. Bank of America cut shares of Air Products and Chemicals from a "neutral" rating to an "underperform" rating and cut their price target for the stock from $330.00 to $282.00 in a report on Tuesday, April 15th. Barclays reduced their price objective on shares of Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Finally, UBS Group cut 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 note on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $332.41.

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.

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