Air Products and Chemicals, Inc. (NYSE:APD) Position Lessened by Telemus Capital LLC

Telemus Capital LLC decreased its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 60.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,823 shares of the basic materials company's stock after selling 5,908 shares during the quarter. Telemus Capital LLC's holdings in Air Products and Chemicals were worth $1,047,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Turtle Creek Wealth Advisors LLC bought a new position in shares of Air Products and Chemicals in the fourth quarter worth about $27,000. Rakuten Securities Inc. bought a new position in shares of Air Products and Chemicals in the fourth quarter worth about $33,000. Legacy Bridge LLC bought a new position in shares of Air Products and Chemicals in the fourth quarter worth about $35,000. Cetera Trust Company N.A bought a new position in shares of Air Products and Chemicals in the fourth quarter worth about $35,000. Finally, FinTrust Capital Advisors LLC boosted its stake in shares of Air Products and Chemicals by 40.4% in the third quarter. FinTrust Capital Advisors LLC now owns 132 shares of the basic materials company's stock worth $37,000 after acquiring an additional 38 shares during the period. Hedge funds and other institutional investors own 81.66% of the company's stock.

Analysts Set New Price Targets

APD has been the subject of a number of research reports. BMO Capital Markets dropped their price target on Air Products and Chemicals from $307.00 to $250.00 and set an "outperform" rating for the company in a research note on Tuesday, February 6th. Wolfe Research initiated coverage on Air Products and Chemicals in a research note on Friday, March 1st. They set an "outperform" rating and a $279.00 price target for the company. Argus lowered Air Products and Chemicals from a "buy" rating to a "hold" rating in a research note on Monday, February 26th. TheStreet lowered Air Products and Chemicals from a "b" rating to a "c+" rating in a research note on Monday, February 5th. Finally, Seaport Res Ptn downgraded Air Products and Chemicals from a "buy" rating to a "neutral" rating in a research note on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, Air Products and Chemicals currently has a consensus rating of "Hold" and an average price target of $276.36.

Air Products and Chemicals Stock Up 1.2 %

Shares of APD traded up $2.73 during midday trading on Monday, hitting $234.37. The company had a trading volume of 1,591,165 shares, compared to its average volume of 1,745,089. The company's 50-day simple moving average is $236.12 and its 200-day simple moving average is $256.79. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.58 and a current ratio of 1.81. The firm has a market capitalization of $52.10 billion, a P/E ratio of 22.36, a P/E/G ratio of 2.55 and a beta of 0.81. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $307.71.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its quarterly earnings data on Monday, February 5th. The basic materials company reported $2.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.00 by ($0.18). Air Products and Chemicals had a net margin of 18.82% and a return on equity of 16.84%. The company had revenue of $3 billion during the quarter, compared to analysts' expectations of $3.20 billion. During the same quarter in the previous year, the business posted $2.64 EPS. The business's quarterly revenue was down 5.6% compared to the same quarter last year. As a group, sell-side analysts expect that Air Products and Chemicals, Inc. will post 12.38 EPS for the current year.

Air Products and Chemicals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Monday, April 1st will be paid a $1.77 dividend. This is a positive change from Air Products and Chemicals's previous quarterly dividend of $1.75. This represents a $7.08 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend is Thursday, March 28th. Air Products and Chemicals's dividend payout ratio is presently 67.56%.

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.