Patten & Patten Inc. TN Sells 428 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Patten & Patten Inc. TN reduced its position in shares of Air Products and Chemicals, Inc. (NYSE:APDFree Report) by 14.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,476 shares of the basic materials company’s stock after selling 428 shares during the quarter. Patten & Patten Inc. TN’s holdings in Air Products and Chemicals were worth $678,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in APD. Legacy Bridge LLC bought a new position in shares of Air Products and Chemicals during the 4th quarter valued at approximately $35,000. FinTrust Capital Advisors LLC grew its stake in shares of Air Products and Chemicals by 40.4% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 132 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 38 shares during the period. Artemis Wealth Advisors LLC bought a new position in shares of Air Products and Chemicals during the 3rd quarter valued at approximately $39,000. Fortitude Family Office LLC bought a new position in shares of Air Products and Chemicals during the 4th quarter valued at approximately $42,000. Finally, ICA Group Wealth Management LLC bought a new position in shares of Air Products and Chemicals during the 4th quarter valued at approximately $44,000. 81.66% of the stock is currently owned by institutional investors.

Air Products and Chemicals Stock Performance

Shares of NYSE:APD opened at $239.84 on Wednesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.81 and a quick ratio of 1.58. The business’s 50 day moving average price is $238.71 and its 200-day moving average price is $262.45. The firm has a market capitalization of $53.32 billion, a PE ratio of 22.89, a P/E/G ratio of 2.67 and a beta of 0.81. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $307.71.

Air Products and Chemicals (NYSE:APDGet Free Report) last posted its earnings results on Monday, February 5th. The basic materials company reported $2.82 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 analysts’ expectations of $3.20 billion. During the same quarter in the prior year, the firm earned $2.64 EPS. Air Products and Chemicals’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, equities research analysts expect that Air Products and Chemicals, Inc. will post 12.38 earnings per share for the current fiscal year.

Air Products and Chemicals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, April 1st will be given a $1.77 dividend. The ex-dividend date is Thursday, March 28th. This represents a $7.08 dividend on an annualized basis and a yield of 2.95%. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.75. Air Products and Chemicals’s payout ratio is currently 67.56%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on APD. BMO Capital Markets dropped their price target on Air Products and Chemicals from $307.00 to $250.00 and set an “outperform” rating for the company in a research note on Tuesday, February 6th. TD Cowen dropped their price target on Air Products and Chemicals from $345.00 to $305.00 and set an “outperform” rating for the company in a research note on Friday, February 16th. JPMorgan Chase & Co. dropped their price target on Air Products and Chemicals from $295.00 to $270.00 and set an “overweight” rating for the company in a research note on Tuesday, February 6th. Morgan Stanley dropped their price target on Air Products and Chemicals from $285.00 to $240.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. Finally, Argus cut Air Products and Chemicals from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Air Products and Chemicals presently has an average rating of “Hold” and a consensus target price of $280.29.

Read Our Latest Stock Report on APD

Air Products and Chemicals Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Air Products and Chemicals (NYSE:APD)

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