Harrington Investments INC Sells 385 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Harrington Investments INC reduced its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 4.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,313 shares of the basic materials company’s stock after selling 385 shares during the period. Air Products and Chemicals accounts for 1.6% of Harrington Investments INC’s holdings, making the stock its 22nd biggest holding. Harrington Investments INC’s holdings in Air Products and Chemicals were worth $2,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC raised its position in Air Products and Chemicals by 14.5% during the 4th quarter. Brighton Jones LLC now owns 3,260 shares of the basic materials company’s stock valued at $945,000 after purchasing an additional 412 shares in the last quarter. Stratos Wealth Advisors LLC bought a new stake in shares of Air Products and Chemicals in the fourth quarter valued at about $216,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Air Products and Chemicals by 30.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,097 shares of the basic materials company’s stock worth $6,463,000 after acquiring an additional 5,209 shares during the period. Robertson Stephens Wealth Management LLC grew its holdings in Air Products and Chemicals by 25.0% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 1,668 shares of the basic materials company’s stock worth $484,000 after acquiring an additional 334 shares in the last quarter. Finally, Bleakley Financial Group LLC increased its position in Air Products and Chemicals by 1.9% during the 4th quarter. Bleakley Financial Group LLC now owns 4,265 shares of the basic materials company’s stock valued at $1,237,000 after purchasing an additional 78 shares during the period. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Performance

APD opened at $279.94 on Friday. The company has a market cap of $62.30 billion, a P/E ratio of 16.26, a price-to-earnings-growth ratio of 3.07 and a beta of 0.88. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. The firm’s 50-day moving average price is $270.50 and its 200-day moving average price is $296.15. Air Products and Chemicals, Inc. has a 52-week low of $243.69 and a 52-week high of $341.14.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Thursday, May 1st. The basic materials company reported $2.69 earnings per share for the quarter, missing the consensus estimate of $2.83 by ($0.14). The company had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.94 billion. Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.85 EPS. As a group, equities analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Tuesday, July 1st will be given a dividend of $1.79 per share. The ex-dividend date is Tuesday, July 1st. This represents a $7.16 dividend on an annualized basis and a yield of 2.56%. Air Products and Chemicals’s dividend payout ratio is currently 104.07%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Bank of America downgraded shares of Air Products and Chemicals from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $330.00 to $282.00 in a research note on Tuesday, April 15th. Wall Street Zen cut Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. Wells Fargo & Company cut their price target on Air Products and Chemicals from $365.00 to $320.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. BNP Paribas upgraded Air Products and Chemicals to a “strong-buy” rating in a research note on Tuesday, February 11th. Finally, BMO Capital Markets lowered Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $331.00.

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.