First Western Trust Bank Sells 955 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Key Points

• First Western Trust Bank has reduced its stake in Air Products and Chemicals by 14.2%, now holding 5,791 shares valued at approximately $1.7 million.
• Analysts have generally maintained a positive outlook on Air Products, with price targets being raised by multiple firms, including UBS and Citigroup, indicating a consensus rating of "Moderate Buy".
• Air Products and Chemicals recently announced a quarterly dividend of $1.79 per share, reflecting a 2.5% yield based on an annualized payout of $7.16.

First Western Trust Bank trimmed its position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 14.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,791 shares of the basic materials company's stock after selling 955 shares during the period. First Western Trust Bank's holdings in Air Products and Chemicals were worth $1,708,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the company. Brighton Jones LLC increased its position in shares of Air Products and Chemicals by 14.5% during the fourth quarter. Brighton Jones LLC now owns 3,260 shares of the basic materials company's stock worth $945,000 after purchasing an additional 412 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Air Products and Chemicals by 36.6% in the fourth quarter. Wellington Management Group LLP now owns 8,775 shares of the basic materials company's stock worth $2,545,000 after purchasing an additional 2,352 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of Air Products and Chemicals during the fourth quarter worth about $722,000. Invesco Ltd. boosted its holdings in Air Products and Chemicals by 4.1% in the fourth quarter. Invesco Ltd. now owns 1,004,813 shares of the basic materials company's stock valued at $291,436,000 after purchasing an additional 39,518 shares during the last quarter. Finally, FIL Ltd acquired a new position in shares of Air Products and Chemicals in the 4th quarter valued at about $7,371,000. Hedge funds and other institutional investors own 81.66% of the company's stock.

Air Products and Chemicals Stock Performance

Air Products and Chemicals stock traded up $3.54 on Wednesday, reaching $292.81. 402,530 shares of the stock were exchanged, compared to its average volume of 1,317,621. The stock has a market cap of $65.17 billion, a PE ratio of 42.13, a PEG ratio of 6.34 and a beta of 0.81. Air Products and Chemicals, Inc. has a twelve month low of $243.69 and a twelve month high of $341.14. The company has a current ratio of 1.29, a quick ratio of 1.12 and a debt-to-equity ratio of 0.93. The firm has a fifty day moving average price of $286.82 and a two-hundred day moving average price of $288.85.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its earnings results on Thursday, July 31st. The basic materials company reported $3.09 earnings per share for the quarter, topping analysts' consensus estimates of $2.99 by $0.10. The company had revenue of $3.02 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $3.20 earnings per share. Sell-side analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Wednesday, October 1st will be given a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, October 1st. Air Products and Chemicals's dividend payout ratio (DPR) is 103.02%.

Insider Transactions at Air Products and Chemicals

In related news, VP Victoria Brifo sold 1,359 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $292.38, for a total transaction of $397,344.42. Following the sale, the vice president directly owned 8,686 shares of the company's stock, valued at approximately $2,539,612.68. This represents a 13.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.41% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on APD. Royal Bank Of Canada initiated coverage on Air Products and Chemicals in a research report on Friday, June 13th. They issued an "outperform" rating and a $355.00 price objective on the stock. Morgan Stanley assumed coverage on shares of Air Products and Chemicals in a research report on Thursday, May 29th. They set an "equal weight" rating and a $290.00 price target on the stock. Barclays lowered their target price on shares of Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Wall Street Zen raised Air Products and Chemicals from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Mizuho raised their price objective on Air Products and Chemicals from $310.00 to $325.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Air Products and Chemicals currently has a consensus rating of "Moderate Buy" and a consensus target price of $335.07.

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.