Patten & Patten Inc. TN Sells 428 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Patten & Patten Inc. TN lessened its position in Air Products and Chemicals, Inc. (NYSE:APDFree Report) by 14.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,476 shares of the basic materials company’s stock after selling 428 shares during the period. Patten & Patten Inc. TN’s holdings in Air Products and Chemicals were worth $678,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of APD. Legacy Bridge LLC acquired a new position in shares of Air Products and Chemicals in the fourth quarter valued at approximately $35,000. FinTrust Capital Advisors LLC boosted its holdings in Air Products and Chemicals by 40.4% during the third quarter. FinTrust Capital Advisors LLC now owns 132 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 38 shares during the last quarter. Artemis Wealth Advisors LLC acquired a new position in Air Products and Chemicals during the third quarter worth $39,000. Fortitude Family Office LLC acquired a new position in Air Products and Chemicals during the fourth quarter worth $42,000. Finally, ICA Group Wealth Management LLC acquired a new position in Air Products and Chemicals during the fourth quarter worth $44,000. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Price Performance

APD stock opened at $239.84 on Wednesday. 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, Inc. has a 12 month low of $212.24 and a 12 month high of $307.71. The firm has a market cap of $53.32 billion, a P/E ratio of 22.89, a P/E/G ratio of 2.67 and a beta of 0.81. The company’s 50-day moving average price is $238.71 and its two-hundred day moving average price is $262.45.

Air Products and Chemicals (NYSE:APDGet Free Report) last released its earnings results on Monday, February 5th. The basic materials company reported $2.82 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 firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same period in the prior year, the business earned $2.64 earnings per share. Air Products and Chemicals’s quarterly revenue was down 5.6% compared to the same quarter last year. On average, analysts anticipate that Air Products and Chemicals, Inc. will post 12.38 earnings per share for the current fiscal year.

Air Products and Chemicals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, April 1st will be issued 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 2.95%. The ex-dividend date of this dividend is Thursday, March 28th. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 67.56%.

Analyst Ratings Changes

APD has been the subject of several recent research reports. BMO Capital Markets reduced their target price on shares of Air Products and Chemicals from $307.00 to $250.00 and set an “outperform” rating for the company in a report on Tuesday, February 6th. Argus cut shares of Air Products and Chemicals from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Barclays cut their price target on shares of Air Products and Chemicals from $260.00 to $245.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 6th. TD Cowen cut their price target on shares of Air Products and Chemicals from $345.00 to $305.00 and set an “outperform” rating for the company in a research note on Friday, February 16th. Finally, UBS Group cut shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and cut their price target for the company from $328.00 to $241.00 in a research note on Thursday, February 8th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $280.29.

Check Out Our Latest Stock Analysis on Air Products and Chemicals

Air Products and Chemicals Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding APD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Air Products and Chemicals, Inc. (NYSE:APDFree Report).

Institutional Ownership by Quarter for Air Products and Chemicals (NYSE:APD)

Receive News & Ratings for Air Products and Chemicals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Air Products and Chemicals and related companies with MarketBeat.com's FREE daily email newsletter.