Western Wealth Management LLC Has $1.78 Million Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Western Wealth Management LLC lessened its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 6.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,491 shares of the basic materials company’s stock after selling 473 shares during the period. Western Wealth Management LLC’s holdings in Air Products and Chemicals were worth $1,777,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Morgan Stanley boosted its position in shares of Air Products and Chemicals by 26.0% during the 4th quarter. Morgan Stanley now owns 5,414,008 shares of the basic materials company’s stock worth $1,668,923,000 after acquiring an additional 1,115,729 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Air Products and Chemicals by 0.9% in the second quarter. Wells Fargo & Company MN now owns 4,163,043 shares of the basic materials company’s stock worth $1,246,957,000 after purchasing an additional 38,283 shares during the period. Northern Trust Corp grew its holdings in shares of Air Products and Chemicals by 1.0% during the third quarter. Northern Trust Corp now owns 3,829,919 shares of the basic materials company’s stock valued at $1,085,399,000 after buying an additional 39,215 shares during the last quarter. Norges Bank bought a new position in shares of Air Products and Chemicals during the fourth quarter valued at about $962,356,000. Finally, Raymond James & Associates lifted its position in shares of Air Products and Chemicals by 3.6% during the fourth quarter. Raymond James & Associates now owns 1,931,619 shares of the basic materials company’s stock valued at $528,877,000 after purchasing an additional 66,906 shares in the last quarter. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Price Performance

NYSE APD traded up $2.30 during trading on Friday, reaching $235.32. 169,680 shares of the company traded hands, compared to its average volume of 1,725,166. The company has a market cap of $52.31 billion, a price-to-earnings ratio of 22.45, a P/E/G ratio of 2.52 and a beta of 0.81. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.58 and a current ratio of 1.81. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $307.71. The stock’s 50 day moving average price is $235.64 and its two-hundred day moving average price is $257.80.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Monday, February 5th. The basic materials company reported $2.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $3.20 billion. During the same quarter last year, the company posted $2.64 EPS. Air Products and Chemicals’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, analysts anticipate that Air Products and Chemicals, Inc. will post 12.38 EPS for the current year.

Air Products and Chemicals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, April 1st will be given a dividend of $1.77 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $7.08 dividend on an annualized basis and a yield of 3.01%. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.75. Air Products and Chemicals’s dividend payout ratio is 67.56%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on APD shares. Morgan Stanley lowered their price target on shares of Air Products and Chemicals from $285.00 to $240.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 7th. TheStreet lowered shares of Air Products and Chemicals from a “b” rating to a “c+” rating in a report on Monday, February 5th. Argus downgraded shares of Air Products and Chemicals from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Bank of America raised shares of Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $264.00 price target on the stock in a report on Thursday, February 15th. Finally, Citigroup raised their target price on shares of Air Products and Chemicals from $260.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $276.36.

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.