Sequoia Financial Advisors LLC Sells 12,094 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Sequoia Financial Advisors LLC lowered its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 66.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 6,093 shares of the basic materials company's stock after selling 12,094 shares during the period. Sequoia Financial Advisors LLC's holdings in Air Products and Chemicals were worth $1,797,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in APD. Tyche Wealth Partners LLC lifted its holdings in shares of Air Products and Chemicals by 9.2% in the 1st quarter. Tyche Wealth Partners LLC now owns 3,555 shares of the basic materials company's stock worth $1,048,000 after purchasing an additional 300 shares in the last quarter. Alpine Bank Wealth Management bought a new position in shares of Air Products and Chemicals in the first quarter worth $1,063,000. Pinnacle Bancorp Inc. raised its stake in shares of Air Products and Chemicals by 55.5% during the 1st quarter. Pinnacle Bancorp Inc. now owns 709 shares of the basic materials company's stock valued at $209,000 after purchasing an additional 253 shares during the period. Golden State Wealth Management LLC lifted its holdings in Air Products and Chemicals by 2,490.6% during the 1st quarter. Golden State Wealth Management LLC now owns 829 shares of the basic materials company's stock worth $244,000 after purchasing an additional 797 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in Air Products and Chemicals by 21.3% in the 1st quarter. Bessemer Group Inc. now owns 8,791 shares of the basic materials company's stock worth $2,593,000 after purchasing an additional 1,545 shares during the period. 81.66% of the stock is currently owned by institutional investors.

Air Products and Chemicals Stock Performance

Shares of APD traded up $1.54 during mid-day trading on Thursday, hitting $291.84. 682,381 shares of the company traded hands, compared to its average volume of 1,369,771. The stock has a market cap of $64.95 billion, a price-to-earnings ratio of 42.42, a P/E/G ratio of 5.48 and a beta of 0.85. The stock has a 50-day moving average price of $275.87 and a two-hundred day moving average price of $290.53. Air Products and Chemicals, Inc. has a 1 year low of $243.69 and a 1 year high of $341.14. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.85 and a current ratio of 1.00.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced 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). The company had revenue of $2.92 billion for the quarter, compared to analysts' expectations of $2.94 billion. Air Products and Chemicals had a net margin of 12.76% and a return on equity of 15.48%. Air Products and Chemicals's quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.85 earnings per share. Equities analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Tuesday, July 1st will be paid a dividend of $1.79 per share. The ex-dividend date is Tuesday, July 1st. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.45%. Air Products and Chemicals's dividend payout ratio is currently 104.07%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on APD shares. Bank of America lowered Air Products and Chemicals from a "neutral" rating to an "underperform" rating and decreased their target price for the stock from $330.00 to $282.00 in a research note on Tuesday, April 15th. Wells Fargo & Company dropped their price objective on Air Products and Chemicals from $365.00 to $320.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. UBS Group decreased their price objective on shares of 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. Morgan Stanley assumed coverage on Air Products and Chemicals in a research note on Thursday, May 29th. They issued an "equal weight" rating and a $290.00 target price on the stock. Finally, Royal Bank Of Canada began 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. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $330.94.

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.