Tyche Wealth Partners LLC Takes Position in Air Products and Chemicals, Inc. (NYSE:APD)

Tyche Wealth Partners LLC purchased a new stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,886 shares of the basic materials company’s stock, valued at approximately $790,000.

Other institutional investors have also recently made changes to their positions in the company. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Air Products and Chemicals during the fourth quarter valued at approximately $27,000. Legacy Bridge LLC bought a new position in Air Products and Chemicals during the fourth quarter valued at approximately $35,000. FinTrust Capital Advisors LLC lifted its position 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 valued at $37,000 after purchasing an additional 38 shares during the period. Artemis Wealth Advisors LLC bought a new position in Air Products and Chemicals during the third quarter valued at approximately $39,000. Finally, ICA Group Wealth Management LLC bought a new position in Air Products and Chemicals during the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. UBS Group downgraded shares of 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 research report on Thursday, February 8th. TheStreet downgraded shares of Air Products and Chemicals from a “b” rating to a “c+” rating in a research report on Monday, February 5th. Citigroup increased their price target on shares of Air Products and Chemicals from $260.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. TD Cowen decreased their price target on shares of 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. Finally, StockNews.com downgraded shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Sunday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Air Products and Chemicals has an average rating of “Hold” and a consensus target price of $276.36.

Air Products and Chemicals Price Performance

Shares of NYSE:APD traded down $3.40 during midday trading on Wednesday, hitting $227.76. The company’s stock had a trading volume of 2,590,139 shares, compared to its average volume of 1,263,944. The business’s 50 day simple moving average is $235.11 and its 200 day simple moving average is $258.18. 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 company has a market cap of $50.63 billion, a P/E ratio of 21.73, a price-to-earnings-growth ratio of 2.54 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.

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 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 analyst estimates of $3.20 billion. During the same quarter in the previous year, the business posted $2.64 earnings per share. Air Products and Chemicals’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, analysts forecast that Air Products and Chemicals, Inc. will post 12.38 EPS for the current year.

Air Products and Chemicals Increases Dividend

The business 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 is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.75. This represents a $7.08 dividend on an annualized basis and a dividend yield of 3.11%. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 67.56%.

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.