SlateStone Wealth LLC Grows Stake in Air Products and Chemicals, Inc. (NYSE:APD)

SlateStone Wealth LLC boosted its position in Air Products and Chemicals, Inc. (NYSE:APD) by 10.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,491 shares of the basic materials company’s stock after purchasing an additional 1,888 shares during the period. SlateStone Wealth LLC’s holdings in Air Products and Chemicals were worth $5,337,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of APD. Turtle Creek Wealth Advisors LLC purchased a new position in Air Products and Chemicals during the fourth quarter worth $27,000. Roble Belko & Company Inc purchased a new position in Air Products and Chemicals during the fourth quarter worth $27,000. Rakuten Securities Inc. acquired a new stake in shares of Air Products and Chemicals during the fourth quarter worth $33,000. Legacy Bridge LLC acquired a new stake in shares of Air Products and Chemicals during the fourth quarter worth $35,000. Finally, Cetera Trust Company N.A acquired a new position in Air Products and Chemicals in the fourth quarter valued at $35,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Price Performance

APD opened at $233.71 on Wednesday. The stock has a fifty day moving average of $236.44 and a 200-day moving average of $256.46. The firm has a market capitalization of $51.95 billion, a P/E ratio of 22.31, a PEG ratio of 2.58 and a beta of 0.81. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $307.71. The company has a quick ratio of 1.58, a current ratio of 1.81 and a debt-to-equity ratio of 0.74.

Air Products and Chemicals (NYSE:APD) 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 return on equity of 16.84% and a net margin of 18.82%. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.20 billion. During the same quarter in the prior year, the business posted $2.64 earnings per share. Air Products and Chemicals’s revenue was down 5.6% on a year-over-year basis. Equities analysts forecast that Air Products and Chemicals, Inc. will post 12.38 EPS for the current fiscal year.

Air Products and Chemicals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Monday, April 1st will be issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 3.03%. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.75. The ex-dividend date is Thursday, March 28th. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 67.56%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on APD. TheStreet cut Air Products and Chemicals from a “b” rating to a “c+” rating in a report on Monday, February 5th. Argus lowered Air Products and Chemicals from a “buy” rating to a “hold” rating in a report on Monday, February 26th. UBS Group lowered Air Products and Chemicals from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $328.00 to $241.00 in a report on Thursday, February 8th. Wolfe Research assumed coverage on Air Products and Chemicals in a research note on Friday, March 1st. They issued an “outperform” rating and a $279.00 target price for the company. Finally, Morgan Stanley reduced their price objective on Air Products and Chemicals from $285.00 to $240.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 7th. 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $276.36.

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.