Transcend Capital Advisors LLC Sells 4,700 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Transcend Capital Advisors LLC decreased its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 75.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,502 shares of the basic materials company's stock after selling 4,700 shares during the period. Transcend Capital Advisors LLC's holdings in Air Products and Chemicals were worth $443,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Generali Investments Management Co LLC bought a new position in Air Products and Chemicals in the fourth quarter valued at approximately $26,000. WR Wealth Planners LLC boosted its holdings in shares of Air Products and Chemicals by 40.3% in the 4th 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. Lee Danner & Bass Inc. bought a new position in shares of Air Products and Chemicals in the fourth quarter valued at $44,000. Sunbelt Securities Inc. increased its holdings in Air Products and Chemicals by 525.9% during the fourth quarter. Sunbelt Securities Inc. now owns 169 shares of the basic materials company's stock worth $49,000 after buying an additional 142 shares during the last quarter. Finally, Physician Wealth Advisors Inc. bought a new stake in Air Products and Chemicals during the fourth quarter worth $51,000. Institutional investors and hedge funds own 81.66% of the company's stock.

Air Products and Chemicals Stock Performance

APD stock traded up $2.42 during trading hours on Wednesday, hitting $287.89. 344,886 shares of the stock were exchanged, compared to its average volume of 1,375,407. Air Products and Chemicals, Inc. has a 12 month low of $243.69 and a 12 month high of $341.14. The company has a current ratio of 1.00, a quick ratio of 0.85 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $64.07 billion, a P/E ratio of 41.78, a P/E/G ratio of 5.41 and a beta of 0.85. The company has a 50-day simple moving average of $275.37 and a two-hundred day simple moving average of $290.53.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released 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 net margin of 12.76% and a return on equity of 15.48%. The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same quarter last year, the company posted $2.85 earnings per share. The company's revenue was down .5% on a year-over-year basis. On average, analysts forecast that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Announces Dividend

The firm also recently announced 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. The ex-dividend date is Tuesday, July 1st. This represents a $7.16 annualized dividend and a dividend yield of 2.49%. Air Products and Chemicals's dividend payout ratio is presently 104.07%.

Analyst Ratings Changes

A number of brokerages have recently commented on APD. Citigroup lifted their price objective on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the company a "buy" rating in a research report on Monday. Barclays reduced their price target on Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Bank of America lowered 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. Wells Fargo & Company reduced their target price 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. Finally, Morgan Stanley started coverage on Air Products and Chemicals in a research note on Thursday, May 29th. They issued an "equal weight" rating and a $290.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have assigned 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 currently has a consensus rating of "Moderate Buy" and an average target price of $330.94.

About Air Products and Chemicals

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.