First Foundation Advisors Sells 212 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

First Foundation Advisors reduced its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 14.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,238 shares of the basic materials company’s stock after selling 212 shares during the period. First Foundation Advisors’ holdings in Air Products and Chemicals were worth $300,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Air Products and Chemicals in the fourth quarter worth $27,000. Roble Belko & Company Inc purchased a new stake in shares of Air Products and Chemicals in the fourth quarter worth $27,000. Sachetta LLC purchased a new stake in shares of Air Products and Chemicals in the fourth quarter worth $27,000. Security National Bank purchased a new stake in shares of Air Products and Chemicals in the fourth quarter worth $27,000. Finally, Thompson Investment Management Inc. purchased a new stake in shares of Air Products and Chemicals in the first quarter worth $27,000. 81.66% of the stock is owned by institutional investors.

Air Products and Chemicals Trading Down 1.4 %

Shares of APD traded down $3.68 during trading hours on Friday, hitting $262.91. The company had a trading volume of 762,658 shares, compared to its average volume of 1,952,141. The firm has a market cap of $58.45 billion, a P/E ratio of 23.73, a P/E/G ratio of 2.90 and a beta of 0.81. The stock’s 50 day moving average price is $264.72 and its 200 day moving average price is $250.31. 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 52-week low of $212.24 and a 52-week high of $307.71.

Air Products and Chemicals (NYSE:APD) last posted its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.15. The company had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $3.05 billion. Air Products and Chemicals had a return on equity of 16.56% and a net margin of 20.32%. Air Products and Chemicals’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period last year, the firm earned $2.74 earnings per share. On average, research analysts predict that Air Products and Chemicals, Inc. will post 12.26 EPS for the current year.

Air Products and Chemicals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, October 1st will be paid a $1.77 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $7.08 annualized dividend and a dividend yield of 2.69%. Air Products and Chemicals’s payout ratio is presently 63.90%.

Wall Street Analysts Forecast Growth

APD has been the topic of a number of recent analyst reports. Barclays increased their price objective 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 lowered their price target on Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Morgan Stanley raised their price target on Air Products and Chemicals from $240.00 to $280.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 5th. Bank of America raised their price target on Air Products and Chemicals from $275.00 to $312.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Finally, UBS Group raised their price target on Air Products and Chemicals from $257.00 to $268.00 and gave the company a “neutral” rating in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $291.43.

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.