Indiana Trust & Investment Management CO Has $369,000 Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Indiana Trust & Investment Management CO lowered its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 4.7% in the first quarter, HoldingsChannel reports. The fund owned 1,524 shares of the basic materials company’s stock after selling 75 shares during the period. Indiana Trust & Investment Management CO’s holdings in Air Products and Chemicals were worth $369,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Turtle Creek Wealth Advisors LLC acquired a new position in Air Products and Chemicals during the 4th quarter valued at about $27,000. Roble Belko & Company Inc acquired a new position in Air Products and Chemicals in the fourth quarter valued at approximately $27,000. Sachetta LLC acquired a new position in Air Products and Chemicals in the fourth quarter valued at approximately $27,000. Security National Bank acquired a new position in shares of Air Products and Chemicals in the 4th quarter valued at $27,000. Finally, Thompson Investment Management Inc. acquired a new position in shares of Air Products and Chemicals in the 1st quarter valued at $27,000. Institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

APD has been the topic of several analyst reports. Wolfe Research initiated coverage on Air Products and Chemicals in a research note on Friday, March 1st. They issued an “outperform” rating and a $279.00 target price on the stock. Citigroup cut their price target on shares of Air Products and Chemicals from $285.00 to $280.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Barclays raised their price target on Air Products and Chemicals from $245.00 to $290.00 and gave the stock an “equal weight” rating in a research report on Monday, June 10th. Mizuho dropped their target price on shares of Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Finally, TD Cowen raised their target price on shares of Air Products and Chemicals from $305.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $287.29.

Air Products and Chemicals Stock Performance

Shares of NYSE APD traded down $5.02 during midday trading on Friday, hitting $258.05. 2,606,668 shares of the company’s stock were exchanged, compared to its average volume of 1,775,889. The company has a quick ratio of 1.31, a current ratio of 1.49 and a debt-to-equity ratio of 0.77. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $307.71. The company’s 50 day moving average price is $258.60 and its 200 day moving average price is $251.91. The firm has a market capitalization of $57.37 billion, a PE ratio of 23.51, a price-to-earnings-growth ratio of 2.86 and a beta of 0.84.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $2.70 by $0.15. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same period in the previous year, the business posted $2.74 earnings per share. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, analysts predict that Air Products and Chemicals, Inc. will post 12.3 earnings per share for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Stockholders of record on Monday, July 1st will be given a $1.77 dividend. The ex-dividend date is Monday, July 1st. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.74%. Air Products and Chemicals’s payout ratio is presently 63.90%.

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.