WealthPLAN Partners LLC Has $3.68 Million Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

WealthPLAN Partners LLC lowered its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 7.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,249 shares of the basic materials company’s stock after selling 1,176 shares during the quarter. WealthPLAN Partners LLC’s holdings in Air Products and Chemicals were worth $3,677,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Sachetta LLC acquired a new stake in Air Products and Chemicals during the 4th quarter valued at $27,000. Security National Bank purchased a new position in shares of Air Products and Chemicals during the fourth quarter valued at $27,000. Thompson Investment Management Inc. acquired a new position in Air Products and Chemicals during the first quarter valued at $27,000. Transcendent Capital Group LLC purchased a new stake in Air Products and Chemicals in the 4th quarter worth about $28,000. Finally, Meeder Asset Management Inc. purchased a new position in Air Products and Chemicals during the 2nd quarter valued at about $32,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

APD opened at $288.87 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.77. The stock’s 50 day moving average price is $271.74 and its two-hundred day moving average price is $258.40. The firm has a market capitalization of $64.22 billion, a P/E ratio of 26.07, a price-to-earnings-growth ratio of 3.70 and a beta of 0.82. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $301.90.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data on Thursday, August 1st. The basic materials company reported $3.20 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.16. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $3.04 billion. On average, equities analysts forecast that Air Products and Chemicals, Inc. will post 12.32 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, October 1st will be issued a dividend of $1.77 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $7.08 annualized dividend and a dividend yield of 2.45%. Air Products and Chemicals’s payout ratio is 63.90%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. BMO Capital Markets increased their price target on shares of Air Products and Chemicals from $300.00 to $323.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. The Goldman Sachs Group lifted their target price on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, August 5th. StockNews.com downgraded shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. Wells Fargo & Company lifted their price objective on Air Products and Chemicals from $240.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. upped their target price on Air Products and Chemicals from $300.00 to $340.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $297.40.

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.