ZRC Wealth Management LLC Decreases Position in Air Products and Chemicals, Inc. (NYSE:APD)

ZRC Wealth Management LLC reduced its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 52.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 137 shares of the basic materials company’s stock after selling 150 shares during the quarter. ZRC Wealth Management LLC’s holdings in Air Products and Chemicals were worth $33,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Air Products and Chemicals in the fourth quarter valued at $27,000. Roble Belko & Company Inc acquired a new stake in shares of Air Products and Chemicals during the fourth quarter valued at about $27,000. Sachetta LLC purchased a new stake in shares of Air Products and Chemicals during the fourth quarter worth about $27,000. Security National Bank acquired a new position in shares of Air Products and Chemicals in the fourth quarter worth about $27,000. Finally, Thompson Investment Management Inc. purchased a new position in Air Products and Chemicals in the first quarter valued at about $27,000. 81.66% of the stock is owned by institutional investors and hedge funds.

Air Products and Chemicals Price Performance

Shares of NYSE APD opened at $253.00 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.49 and a quick ratio of 1.31. The firm has a market capitalization of $56.24 billion, a PE ratio of 22.83, a P/E/G ratio of 2.74 and a beta of 0.81. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $307.71. The business’s fifty day moving average price is $261.05 and its two-hundred day moving average price is $251.42.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.70 by $0.15. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. The business had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $3.05 billion. During the same quarter last year, the company earned $2.74 EPS. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. On average, research analysts expect that Air Products and Chemicals, Inc. will post 12.3 EPS for the current year.

Air Products and Chemicals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 12th. Stockholders of record on Monday, July 1st will be paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend is Monday, July 1st. Air Products and Chemicals’s dividend payout ratio is presently 63.90%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. TD Cowen upped their target price on Air Products and Chemicals from $305.00 to $320.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Citigroup cut their price target on shares of Air Products and Chemicals from $285.00 to $280.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Air Products and Chemicals from $260.00 to $310.00 and gave the stock a “buy” rating in a report on Monday, June 10th. JPMorgan Chase & Co. cut their target price on shares of Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Finally, BMO Capital Markets lifted their price target on Air Products and Chemicals from $276.00 to $294.00 and gave the stock an “outperform” rating in a research note on Monday, June 10th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $287.29.

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.