Desjardins Global Asset Management Inc. Sells 766 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Desjardins Global Asset Management Inc. lowered its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 50.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 748 shares of the basic materials company’s stock after selling 766 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Air Products and Chemicals were worth $205,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Air Products and Chemicals in the 4th quarter valued at about $27,000. Legacy Bridge LLC bought a new stake in shares of Air Products and Chemicals in the 4th quarter valued at about $35,000. FinTrust Capital Advisors LLC lifted its stake in shares of Air Products and Chemicals by 40.4% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 132 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 38 shares during the last quarter. Artemis Wealth Advisors LLC bought a new stake in shares of Air Products and Chemicals in the 3rd quarter valued at about $39,000. Finally, Fortitude Family Office LLC bought a new stake in shares of Air Products and Chemicals in the 4th quarter valued at about $42,000. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

Air Products and Chemicals stock opened at $233.03 on Friday. The company has a quick ratio of 1.58, a current ratio of 1.81 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $51.80 billion, a P/E ratio of 22.24, a PEG ratio of 2.50 and a beta of 0.81. The stock’s 50 day moving average is $235.64 and its 200 day moving average is $257.80. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $307.71.

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 for the quarter, missing the consensus estimate of $3.00 by ($0.18). The company 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 quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.64 EPS. On average, equities research analysts predict that Air Products and Chemicals, Inc. will post 12.38 earnings per share for the current fiscal year.

Air Products and Chemicals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, April 1st will be paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 3.04%. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.75. The ex-dividend date is Thursday, March 28th. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 67.56%.

Analyst Upgrades and Downgrades

APD has been the subject of a number of recent research reports. Wells Fargo & Company lowered Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a research note on Monday, February 5th. Wolfe Research began coverage on Air Products and Chemicals in a research report on Friday, March 1st. They set an “outperform” rating and a $279.00 price target for the company. Bank of America raised Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $264.00 price target for the company in a research report on Thursday, February 15th. UBS Group lowered Air Products and Chemicals from a “buy” rating to a “neutral” rating and lowered their price target for the company from $328.00 to $241.00 in a research report on Thursday, February 8th. Finally, BMO Capital Markets lowered their price target on Air Products and Chemicals from $307.00 to $250.00 and set an “outperform” rating for the company in a research report on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average 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.