Spirepoint Private Client LLC Trims Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Spirepoint Private Client LLC decreased its position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 87.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,611 shares of the basic materials company's stock after selling 17,790 shares during the quarter. Spirepoint Private Client LLC's holdings in Air Products and Chemicals were worth $770,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Generali Investments Management Co LLC purchased a new position in Air Products and Chemicals during the fourth quarter worth approximately $26,000. WR Wealth Planners LLC raised its stake in shares of 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 buying an additional 31 shares during the period. Lee Danner & Bass Inc. purchased a new position in shares of Air Products and Chemicals during the 4th quarter valued at approximately $44,000. Sunbelt Securities Inc. grew its stake in 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 acquiring an additional 142 shares during the period. Finally, Whipplewood Advisors LLC purchased a new stake in Air Products and Chemicals in the 4th quarter worth $50,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on APD shares. 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 report on Friday, May 2nd. Barclays reduced their price target 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. Wells Fargo & Company lowered their price objective on Air Products and Chemicals from $365.00 to $320.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Royal Bank Of Canada started coverage on Air Products and Chemicals in a research note on Friday, June 13th. They set an "outperform" rating and a $355.00 price objective for the company. Finally, Citigroup decreased their target price on Air Products and Chemicals from $373.00 to $345.00 and set a "buy" rating on the stock in a research report on Tuesday, March 25th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $332.41.

Air Products and Chemicals Trading Up 0.4%

NYSE APD traded up $1.12 on Wednesday, reaching $282.12. 1,617,288 shares of the company were exchanged, compared to its average volume of 1,417,625. The business's fifty day moving average price is $273.26 and its 200 day moving average price is $291.59. The stock has a market capitalization of $62.78 billion, a P/E ratio of 41.01, a price-to-earnings-growth ratio of 5.24 and a beta of 0.86. The company has a current ratio of 1.00, a quick ratio of 0.85 and a debt-to-equity ratio of 0.85. Air Products and Chemicals, Inc. has a fifty-two week low of $243.69 and a fifty-two week high of $341.14.

Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The basic materials company reported $2.69 EPS for the quarter, missing the consensus estimate of $2.83 by ($0.14). Air Products and Chemicals had a return on equity of 15.48% and a net margin of 12.76%. The company had revenue of $2.92 billion for the quarter, compared to analysts' expectations of $2.94 billion. During the same quarter in the prior year, the firm earned $2.85 EPS. The firm's revenue was down .5% on a year-over-year basis. Analysts forecast that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Stockholders 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 annualized dividend and a dividend yield of 2.54%. Air Products and Chemicals's dividend payout ratio (DPR) is 104.07%.

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.