SVB Wealth LLC Has $16.84 Million Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

SVB Wealth LLC cut its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 15.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 61,487 shares of the basic materials company’s stock after selling 11,277 shares during the quarter. SVB Wealth LLC’s holdings in Air Products and Chemicals were worth $16,835,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC acquired a new stake in Air Products and Chemicals during the 4th quarter worth about $27,000. Legacy Bridge LLC acquired a new stake in Air Products and Chemicals during the 4th quarter worth about $35,000. FinTrust Capital Advisors LLC boosted its position in Air Products and Chemicals by 40.4% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 132 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 38 shares during the period. Artemis Wealth Advisors LLC acquired a new stake in Air Products and Chemicals during the 3rd quarter worth about $39,000. Finally, Fortitude Family Office LLC acquired a new stake in Air Products and Chemicals during the 4th quarter worth about $42,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on APD shares. Wolfe Research started coverage on Air Products and Chemicals in a report on Friday, March 1st. They set an “outperform” rating and a $279.00 price target for the company. TD Cowen reduced their price target on Air Products and Chemicals from $345.00 to $305.00 and set an “outperform” rating for the company in a report on Friday, February 16th. Bank of America upgraded Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $264.00 price target for the company in a report on Thursday, February 15th. Morgan Stanley reduced their price target on Air Products and Chemicals from $285.00 to $240.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. Finally, Argus downgraded Air Products and Chemicals from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $276.36.

Air Products and Chemicals Stock Performance

NYSE APD traded down $2.30 during trading on Tuesday, hitting $228.86. The company’s stock had a trading volume of 373,347 shares, compared to its average volume of 1,725,572. 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 firm has a 50 day moving average price of $234.91 and a 200 day moving average price of $258.57. The firm has a market cap of $50.88 billion, a P/E ratio of 22.06, a price-to-earnings-growth ratio of 2.55 and a beta of 0.81. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $307.71.

Air Products and Chemicals (NYSE:APD) last issued its quarterly 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). Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same period in the prior year, the firm earned $2.64 earnings per share. The business’s quarterly revenue was down 5.6% on a year-over-year basis. Equities research analysts forecast 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, April 1st will be issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Thursday, March 28th. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.75. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 67.56%.

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.