Kingsview Wealth Management LLC Trims Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Kingsview Wealth Management LLC trimmed its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 1.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,727 shares of the basic materials company’s stock after selling 327 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Air Products and Chemicals were worth $5,264,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Turtle Creek Wealth Advisors LLC purchased a new position in Air Products and Chemicals during the 4th quarter worth $27,000. Roble Belko & Company Inc purchased a new position in Air Products and Chemicals during the 4th quarter worth $27,000. Sachetta LLC purchased a new position in shares of Air Products and Chemicals in the 4th quarter valued at $27,000. Security National Bank purchased a new position in shares of Air Products and Chemicals in the 4th quarter valued at $27,000. Finally, Thompson Investment Management Inc. purchased a new position in shares of Air Products and Chemicals in the 1st quarter valued at $27,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Performance

APD traded down $3.76 on Friday, reaching $262.83. 446,554 shares of the stock were exchanged, compared to its average volume of 1,730,437. The company’s 50-day moving average price is $264.47 and its 200 day moving average price is $250.54. The firm has a market capitalization of $58.43 billion, a PE ratio of 23.83, a PEG ratio of 2.99 and a beta of 0.81. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $307.71. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.49 and a quick ratio of 1.31.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share for the quarter, beating analysts’ consensus estimates of $2.70 by $0.15. The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $3.05 billion. Air Products and Chemicals had a return on equity of 16.56% and a net margin of 20.32%. The company’s revenue was down 8.4% on a year-over-year basis. During the same quarter last year, the business posted $2.74 EPS. As a group, sell-side analysts forecast that Air Products and Chemicals, Inc. will post 12.28 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, October 1st will be paid a dividend of $1.77 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.69%. Air Products and Chemicals’s payout ratio is currently 63.90%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on APD. Deutsche Bank Aktiengesellschaft lifted their price target on Air Products and Chemicals from $260.00 to $310.00 and gave the company a “buy” rating in a report on Monday, June 10th. BMO Capital Markets lifted their price target on Air Products and Chemicals from $294.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, July 11th. Morgan Stanley lifted their price target on Air Products and Chemicals from $240.00 to $280.00 and gave the company an “equal weight” rating in a report on Wednesday, June 5th. Bank of America raised their price objective on Air Products and Chemicals from $275.00 to $312.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Finally, JPMorgan Chase & Co. lowered their price objective on Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $291.43.

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.