Pinnacle Wealth Planning Services Inc. Reduces Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Pinnacle Wealth Planning Services Inc. lowered its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 5.1% during the first quarter, HoldingsChannel reports. The fund owned 934 shares of the basic materials company’s stock after selling 50 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Air Products and Chemicals were worth $226,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Air Products and Chemicals in the 4th quarter valued at about $27,000. Roble Belko & Company Inc purchased a new position in Air Products and Chemicals during the 4th quarter worth approximately $27,000. Sachetta LLC purchased a new position in Air Products and Chemicals during the 4th quarter worth approximately $27,000. Security National Bank purchased a new position in Air Products and Chemicals during the 4th quarter worth approximately $27,000. Finally, Transcendent Capital Group LLC purchased a new position in Air Products and Chemicals during the 4th quarter worth approximately $28,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Down 1.4 %

Shares of NYSE:APD traded down $3.68 during trading on Friday, hitting $262.91. The company’s stock had a trading volume of 762,658 shares, compared to its average volume of 1,952,141. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.31 and a current ratio of 1.49. The company has a market capitalization of $58.45 billion, a PE ratio of 23.73, a PEG ratio of 2.90 and a beta of 0.81. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $307.71. The stock’s 50-day moving average price is $264.72 and its two-hundred day moving average price is $250.31.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings data 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. Air Products and Chemicals had a return on equity of 16.56% and a net margin of 20.32%. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the previous year, the firm posted $2.74 earnings per share. The business’s revenue was down 8.4% on a year-over-year basis. As a group, sell-side analysts expect that Air Products and Chemicals, Inc. will post 12.26 EPS for the current year.

Air Products and Chemicals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, October 1st will be issued a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Tuesday, October 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is 63.90%.

Analyst Ratings Changes

A number of research firms recently issued reports on APD. UBS Group raised their price target on Air Products and Chemicals from $257.00 to $268.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 9th. StockNews.com upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Saturday, June 29th. Mizuho dropped 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 note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft increased their price objective on Air Products and Chemicals from $260.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Finally, BMO Capital Markets increased their price objective on Air Products and Chemicals from $294.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $291.43.

Air Products and Chemicals 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.