RNC Capital Management LLC Lowers Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

RNC Capital Management LLC lessened its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 6.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,773 shares of the basic materials company’s stock after selling 411 shares during the quarter. RNC Capital Management LLC’s holdings in Air Products and Chemicals were worth $1,581,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Legacy Bridge LLC purchased a new stake in Air Products and Chemicals during the fourth quarter worth $35,000. FinTrust Capital Advisors LLC grew its holdings in Air Products and Chemicals by 40.4% in the third quarter. FinTrust Capital Advisors LLC now owns 132 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 38 shares during the last quarter. Artemis Wealth Advisors LLC acquired a new stake in Air Products and Chemicals in the third quarter valued at $39,000. Fortitude Family Office LLC acquired a new stake in Air Products and Chemicals in the fourth quarter valued at $42,000. Finally, ICA Group Wealth Management LLC acquired a new stake in Air Products and Chemicals in the fourth quarter valued at $44,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. StockNews.com raised Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. Argus lowered Air Products and Chemicals from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. TD Cowen decreased their price objective on Air Products and Chemicals from $345.00 to $305.00 and set an “outperform” rating on the stock in a research note on Friday, February 16th. Bank of America raised Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $264.00 price objective on the stock in a research note on Thursday, February 15th. Finally, Wells Fargo & Company downgraded Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a research report on Monday, February 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $280.29.

Air Products and Chemicals Stock Performance

Air Products and Chemicals stock opened at $243.06 on Thursday. The stock’s 50-day moving average is $240.12 and its 200-day moving average is $264.16. The company has a market cap of $54.03 billion, a price-to-earnings ratio of 23.19, a price-to-earnings-growth ratio of 2.62 and a beta of 0.81. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.81 and a quick ratio of 1.58. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $307.71.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings data 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). The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.20 billion. Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.64 earnings per share. Equities analysts anticipate that Air Products and Chemicals, Inc. will post 12.38 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, April 1st will be issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.91%. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.75. The ex-dividend date of this dividend is Thursday, March 28th. Air Products and Chemicals’s dividend payout ratio (DPR) is 66.79%.

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.