Folger Nolan Fleming Douglas Capital Management Inc. Has $388,000 Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Folger Nolan Fleming Douglas Capital Management Inc. reduced its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 20.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,316 shares of the basic materials company’s stock after selling 332 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Air Products and Chemicals were worth $388,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Parvin Asset Management LLC purchased a new stake in shares of Air Products and Chemicals during the 4th quarter worth about $715,000. Kestra Investment Management LLC grew its holdings in Air Products and Chemicals by 44.2% in the 4th quarter. Kestra Investment Management LLC now owns 4,804 shares of the basic materials company’s stock valued at $1,393,000 after buying an additional 1,473 shares during the last quarter. Root Financial Partners LLC acquired a new stake in Air Products and Chemicals in the 4th quarter valued at approximately $267,000. Highview Capital Management LLC DE acquired a new stake in Air Products and Chemicals in the 4th quarter valued at approximately $590,000. Finally, Mantle Ridge LP acquired a new stake in Air Products and Chemicals in the 4th quarter valued at approximately $1,191,344,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Citigroup decreased their price objective on Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. Morgan Stanley started coverage on Air Products and Chemicals in a research report on Thursday, May 29th. They set an “equal weight” rating and a $290.00 target price for the company. Royal Bank of Canada started coverage on Air Products and Chemicals in a research report on Friday. They set an “outperform” rating and a $355.00 target price for the company. Wells Fargo & Company cut their target price on Air Products and Chemicals from $365.00 to $320.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Finally, UBS Group cut their target price on Air Products and Chemicals from $335.00 to $324.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $332.41.

Air Products and Chemicals Trading Up 0.3%

Air Products and Chemicals stock opened at $283.17 on Friday. The stock has a market cap of $63.02 billion, a P/E ratio of 16.44, a PEG ratio of 3.07 and a beta of 0.86. Air Products and Chemicals, Inc. has a fifty-two week low of $243.69 and a fifty-two week high of $341.14. The firm’s fifty day moving average price is $271.04 and its 200-day moving average price is $294.81. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 1.11.

Air Products and Chemicals (NYSE:APD) last posted its earnings results on Thursday, May 1st. The basic materials company reported $2.69 earnings per share for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.14). The firm 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 business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.85 earnings per share. Equities research analysts forecast that Air Products and Chemicals, Inc. will post 12.69 earnings per share 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. Investors of record on Tuesday, July 1st will be given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend is Tuesday, July 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 104.07%.

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.