Trueblood Wealth Management LLC Buys Shares of 1,220 Air Products and Chemicals, Inc. (NYSE:APD)

Trueblood Wealth Management LLC acquired a new position in shares of Air Products and Chemicals, Inc. (NYSE:APD) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,220 shares of the basic materials company’s stock, valued at approximately $334,000.

Other institutional investors have also made changes to their positions in the company. Legacy Bridge LLC bought a new stake in shares of Air Products and Chemicals during the fourth quarter worth $35,000. FinTrust Capital Advisors LLC raised its position in shares of 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 period. Artemis Wealth Advisors LLC bought a new position in Air Products and Chemicals during the third quarter worth about $39,000. ICA Group Wealth Management LLC bought a new position in Air Products and Chemicals during the fourth quarter worth about $44,000. Finally, Fortitude Family Office LLC bought a new position in Air Products and Chemicals in the 4th quarter valued at about $42,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on APD. Barclays reduced their price target on shares of Air Products and Chemicals from $260.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 6th. Seaport Res Ptn lowered shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 6th. Morgan Stanley decreased their price target on shares of Air Products and Chemicals from $285.00 to $240.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. Mizuho cut their price objective on shares of Air Products and Chemicals from $304.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, February 6th. Finally, Wells Fargo & Company downgraded shares of Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $280.29.

Air Products and Chemicals Stock Down 0.3 %

Shares of NYSE:APD traded down $0.83 during trading on Thursday, hitting $242.27. The stock had a trading volume of 1,439,817 shares, compared to its average volume of 1,840,263. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $307.71. The company has a market capitalization of $53.86 billion, a PE ratio of 23.10, a PEG ratio of 2.62 and a beta of 0.81. The firm’s fifty day moving average is $240.12 and its 200 day moving average is $264.16. The company has a quick ratio of 1.58, a current ratio of 1.81 and a debt-to-equity ratio of 0.74.

Air Products and Chemicals (NYSE:APD) last issued its earnings results on Monday, February 5th. The basic materials company reported $2.82 EPS for the quarter, missing the consensus estimate of $3.00 by ($0.18). The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.20 billion. Air Products and Chemicals had a net margin of 18.82% and a return on equity of 16.84%. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.64 earnings per share. Analysts anticipate that Air Products and Chemicals, Inc. will post 12.38 EPS for the current fiscal year.

Air Products and Chemicals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, April 1st will be issued a dividend of $1.77 per share. The ex-dividend date of this dividend is Thursday, March 28th. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.75. This represents a $7.08 dividend on an annualized basis and a yield of 2.92%. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 66.79%.

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.