Procyon Advisors LLC Has $763,000 Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Procyon Advisors LLC trimmed its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 4.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,786 shares of the basic materials company’s stock after selling 129 shares during the quarter. Procyon Advisors LLC’s holdings in Air Products and Chemicals were worth $763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Cape Cod Five Cents Savings Bank bought a new position in Air Products and Chemicals in the 3rd quarter worth approximately $376,000. BKM Wealth Management LLC bought a new stake in shares of Air Products and Chemicals during the fourth quarter valued at approximately $1,177,000. Bellwether Advisors LLC bought a new stake in shares of Air Products and Chemicals during the third quarter valued at approximately $501,000. W.H. Cornerstone Investments Inc. increased its position in shares of Air Products and Chemicals by 5.9% during the third quarter. W.H. Cornerstone Investments Inc. now owns 5,871 shares of the basic materials company’s stock valued at $1,664,000 after purchasing an additional 325 shares during the period. Finally, Cox Capital Mgt LLC grew its position in Air Products and Chemicals by 75.3% in the fourth quarter. Cox Capital Mgt LLC now owns 12,103 shares of the basic materials company’s stock valued at $3,314,000 after acquiring an additional 5,198 shares during the period. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on APD shares. TD Cowen lowered their price target on Air Products and Chemicals from $345.00 to $305.00 and set an “outperform” rating on the stock in a research report on Friday, February 16th. UBS Group lowered Air Products and Chemicals from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $328.00 to $241.00 in a research note on Thursday, February 8th. Bank of America raised Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $264.00 price objective on the stock in a research note on Thursday, February 15th. Barclays reduced their price objective on Air Products and Chemicals from $260.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 6th. Finally, TheStreet lowered Air Products and Chemicals from a “b” rating to a “c+” rating in a research note on Monday, February 5th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $280.29.

Air Products and Chemicals Stock Up 0.0 %

NYSE APD traded up $0.12 during trading hours on Thursday, hitting $241.45. 150,532 shares of the company traded hands, compared to its average volume of 1,818,393. The business’s 50-day moving average is $240.12 and its 200-day moving average is $264.16. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $307.71. 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 stock has a market capitalization of $53.67 billion, a price-to-earnings ratio of 23.10, a P/E/G ratio of 2.62 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings data 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 net margin of 18.82% and a return on equity of 16.84%. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same period in the previous year, the business earned $2.64 earnings per share. The business’s quarterly revenue was down 5.6% on a year-over-year basis. Sell-side analysts anticipate that Air Products and Chemicals, Inc. will post 12.38 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, April 1st will be given a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.93%. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.75. The ex-dividend date of this dividend is Thursday, March 28th. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 66.79%.

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.