Allspring Global Investments Holdings LLC Reduces Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Allspring Global Investments Holdings LLC cut its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 11.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,378 shares of the basic materials company’s stock after selling 1,825 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Air Products and Chemicals were worth $3,937,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. RFG Advisory LLC grew its stake in Air Products and Chemicals by 2.5% during the 4th quarter. RFG Advisory LLC now owns 8,157 shares of the basic materials company’s stock worth $2,234,000 after buying an additional 199 shares during the last quarter. Fortem Financial Group LLC grew its position in shares of Air Products and Chemicals by 30.7% during the fourth quarter. Fortem Financial Group LLC now owns 1,982 shares of the basic materials company’s stock worth $543,000 after acquiring an additional 465 shares during the last quarter. Hanson & Doremus Investment Management increased its holdings in shares of Air Products and Chemicals by 7.2% in the 4th quarter. Hanson & Doremus Investment Management now owns 3,557 shares of the basic materials company’s stock valued at $974,000 after acquiring an additional 239 shares during the period. Moseley Investment Management Inc. purchased a new stake in Air Products and Chemicals in the 4th quarter valued at $201,000. Finally, Zenyatta Capital Management LP boosted its stake in Air Products and Chemicals by 46.7% during the 4th quarter. Zenyatta Capital Management LP now owns 22,000 shares of the basic materials company’s stock worth $6,024,000 after purchasing an additional 7,000 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Stock Down 0.6 %

Shares of NYSE APD opened at $231.67 on Friday. The stock has a market capitalization of $51.50 billion, a price-to-earnings ratio of 22.11, a price-to-earnings-growth ratio of 2.52 and a beta of 0.81. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $307.71. The firm has a 50-day moving average price of $235.88 and a 200 day moving average price of $257.47. The company has a quick ratio of 1.58, a current ratio of 1.81 and a debt-to-equity ratio of 0.74.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results on Monday, February 5th. The basic materials company reported $2.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.00 by ($0.18). The company had revenue of $3 billion for the quarter, compared to analyst estimates of $3.20 billion. Air Products and Chemicals had a net margin of 18.82% and a return on equity of 16.84%. Air Products and Chemicals’s revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.64 earnings per share. Equities research analysts anticipate that Air Products and Chemicals, Inc. will post 12.38 EPS for the current fiscal year.

Air Products and Chemicals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, April 1st will be given a $1.77 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $7.08 dividend on an annualized basis and a dividend yield of 3.06%. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.75. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 67.56%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. TheStreet lowered shares of Air Products and Chemicals from a “b” rating to a “c+” rating in a research note on Monday, February 5th. JPMorgan Chase & Co. reduced their price objective 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. Seaport Res Ptn downgraded Air Products and Chemicals from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 6th. Barclays cut their price target on Air Products and Chemicals from $260.00 to $245.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 6th. Finally, Argus lowered shares of Air Products and Chemicals from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Two 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $276.36.

Air Products and Chemicals Company Profile

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.