Robertson Stephens Wealth Management LLC Sells 503 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Robertson Stephens Wealth Management LLC cut its position in Air Products and Chemicals, Inc. (NYSE:APD) by 30.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,165 shares of the basic materials company’s stock after selling 503 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Air Products and Chemicals were worth $344,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Generali Investments Management Co LLC acquired a new stake in shares of Air Products and Chemicals in the 4th quarter valued at $26,000. WR Wealth Planners LLC lifted its position in shares of Air Products and Chemicals by 40.3% during the 4th quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company’s stock worth $31,000 after buying an additional 31 shares during the last quarter. Financial Perspectives Inc boosted its stake in Air Products and Chemicals by 33.3% in the fourth quarter. Financial Perspectives Inc now owns 140 shares of the basic materials company’s stock valued at $41,000 after buying an additional 35 shares in the last quarter. Lee Danner & Bass Inc. bought a new position in Air Products and Chemicals in the fourth quarter valued at about $44,000. Finally, Sunbelt Securities Inc. raised its stake in Air Products and Chemicals by 525.9% during the fourth quarter. Sunbelt Securities Inc. now owns 169 shares of the basic materials company’s stock worth $49,000 after acquiring an additional 142 shares in the last quarter. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Trading Down 0.6%

NYSE:APD opened at $275.32 on Friday. Air Products and Chemicals, Inc. has a 52 week low of $243.69 and a 52 week high of $341.14. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.85 and a current ratio of 1.00. The firm’s fifty day moving average is $272.89 and its 200-day moving average is $292.85. The firm has a market cap of $61.27 billion, a P/E ratio of 40.02, a P/E/G ratio of 5.28 and a beta of 0.86.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported $2.69 EPS for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.14). Air Products and Chemicals had a net margin of 12.76% and a return on equity of 15.48%. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period last year, the company posted $2.85 EPS. The business’s revenue was down .5% compared to the same quarter last year. Equities analysts expect that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Tuesday, July 1st will be paid a dividend of $1.79 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $7.16 annualized dividend and a yield of 2.60%. Air Products and Chemicals’s dividend payout ratio is currently 104.07%.

Analyst Ratings Changes

Several brokerages recently issued reports on APD. Morgan Stanley began coverage on shares of Air Products and Chemicals in a report on Thursday, May 29th. They set an “equal weight” rating and a $290.00 price target on the stock. Citigroup decreased their target price on shares of Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating on the stock in a research note on Tuesday, March 25th. Barclays dropped their price target on Air Products and Chemicals from $355.00 to $325.00 and set an “overweight” rating for the company in a research note on Friday, May 2nd. Bank of America lowered Air Products and Chemicals from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $330.00 to $282.00 in a research report on Tuesday, April 15th. Finally, UBS Group lowered their target price on Air Products and Chemicals from $335.00 to $324.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $332.41.

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.