Western Wealth Management LLC Lowers Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Western Wealth Management LLC reduced its position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 34.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,170 shares of the basic materials company's stock after selling 1,162 shares during the quarter. Western Wealth Management LLC's holdings in Air Products and Chemicals were worth $629,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Mantle Ridge LP purchased a new position in shares of Air Products and Chemicals in the 4th quarter valued at approximately $1,191,344,000. Norges Bank bought a new position in Air Products and Chemicals in the fourth quarter valued at about $919,721,000. Bank of America Corp DE raised its holdings in Air Products and Chemicals by 129.4% in the 4th quarter. Bank of America Corp DE now owns 5,429,147 shares of the basic materials company's stock worth $1,574,670,000 after purchasing an additional 3,062,157 shares during the period. Raymond James Financial Inc. purchased a new stake in Air Products and Chemicals in the 4th quarter worth $885,371,000. Finally, Capital International Investors bought a new stake in Air Products and Chemicals in the 4th quarter valued at $436,636,000. Hedge funds and other institutional investors own 81.66% of the company's stock.

Air Products and Chemicals Stock Performance

Shares of APD stock traded down $1.81 during trading hours on Thursday, hitting $269.95. The company's stock had a trading volume of 347,189 shares, compared to its average volume of 1,441,013. The company has a 50 day moving average of $272.65 and a 200 day moving average of $298.05. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71. The stock has a market cap of $60.08 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 3.07 and a beta of 0.88. Air Products and Chemicals, Inc. has a 12-month low of $243.69 and a 12-month high of $341.14.

Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its earnings results on Thursday, May 1st. The basic materials company reported $2.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.83 by ($0.14). Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. The firm had revenue of $2.92 billion for the quarter, compared to analysts' expectations of $2.94 billion. During the same period in the previous year, the company earned $2.85 earnings per share. The company's revenue was down .5% compared to the same quarter last year. On average, sell-side analysts forecast that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Tuesday, July 1st will be given a $1.79 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $7.16 annualized dividend and a dividend yield of 2.65%. Air Products and Chemicals's dividend payout ratio (DPR) is presently 104.07%.

Insider Buying and Selling

In related news, VP Walter L. Nelson sold 589 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $308.50, for a total transaction of $181,706.50. Following the completion of the sale, the vice president now owns 719 shares of the company's stock, valued at approximately $221,811.50. This represents a 45.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.41% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on APD shares. Citigroup reduced their target price on shares of Air Products and Chemicals from $373.00 to $345.00 and set a "buy" rating on the stock in a report on Tuesday, March 25th. Sanford C. Bernstein upgraded Air Products and Chemicals from a "market perform" rating to an "outperform" rating and set a $375.00 price objective on the stock in a research report on Friday, January 31st. Wells Fargo & Company dropped their target price on Air Products and Chemicals from $365.00 to $320.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Bank of America lowered shares of Air Products and Chemicals from a "neutral" rating to an "underperform" rating and dropped their price objective for the stock from $330.00 to $282.00 in a research note on Tuesday, April 15th. Finally, BMO Capital Markets lowered shares of Air Products and Chemicals from an "outperform" rating to a "market perform" rating in a report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $331.00.

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.