Wealth Enhancement Advisory Services LLC Sells 148,048 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Wealth Enhancement Advisory Services LLC lessened its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 40.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 219,810 shares of the basic materials company's stock after selling 148,048 shares during the period. Wealth Enhancement Advisory Services LLC owned about 0.10% of Air Products and Chemicals worth $64,826,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in APD. Generali Investments Management Co LLC bought a new position in shares of Air Products and Chemicals during the 4th quarter worth about $26,000. WR Wealth Planners LLC lifted its stake in Air Products and Chemicals by 40.3% during the fourth quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company's stock worth $31,000 after purchasing an additional 31 shares during the period. Financial Perspectives Inc lifted its stake in Air Products and Chemicals by 33.3% during the fourth quarter. Financial Perspectives Inc now owns 140 shares of the basic materials company's stock worth $41,000 after purchasing an additional 35 shares during the period. Lee Danner & Bass Inc. bought a new position in Air Products and Chemicals during the fourth quarter worth about $44,000. Finally, Sunbelt Securities Inc. lifted its stake 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 purchasing an additional 142 shares during the period. Institutional investors own 81.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on APD shares. Barclays cut 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 note on Friday, May 2nd. Citigroup cut their price target on shares of Air Products and Chemicals from $373.00 to $345.00 and set a "buy" rating for the company in a report on Tuesday, March 25th. Wells Fargo & Company decreased 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 note on Wednesday, April 9th. Bank of America cut shares of Air Products and Chemicals from a "neutral" rating to an "underperform" rating and cut their target price for the company from $330.00 to $282.00 in a research note on Tuesday, April 15th. Finally, Royal Bank Of Canada began coverage on shares of Air Products and Chemicals in a research note on Friday, June 13th. They issued an "outperform" rating and a $355.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, five have given 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.com, Air Products and Chemicals currently has an average rating of "Moderate Buy" and a consensus price target of $332.41.

Air Products and Chemicals Stock Performance

Shares of Air Products and Chemicals stock opened at $275.32 on Friday. Air Products and Chemicals, Inc. has a fifty-two week low of $243.69 and a fifty-two week high of $341.14. The firm has a 50 day simple moving average of $272.89 and a 200 day simple moving average of $292.85. 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 firm has a market cap of $61.27 billion, a P/E ratio of 40.02, a P/E/G ratio of 5.28 and a beta of 0.86.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The basic materials company reported $2.69 earnings per share 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 in the prior year, the company earned $2.85 earnings per share. The company's quarterly revenue was down .5% on a year-over-year basis. Sell-side analysts predict 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 disclosed a quarterly dividend, which will be paid on Monday, August 11th. Shareholders 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 dividend on an annualized basis and a yield of 2.60%. Air Products and Chemicals's payout ratio is presently 104.07%.

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.

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