Macnealy Hoover Investment Management Inc. Sells 190 Shares of Air Products & Chemicals, Inc. (APD)

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Macnealy Hoover Investment Management Inc. lowered its stake in Air Products & Chemicals, Inc. (NYSE:APD) by 1.8% during the first quarter, HoldingsChannel.com reports. The firm owned 10,444 shares of the basic materials company’s stock after selling 190 shares during the quarter. Air Products & Chemicals comprises approximately 1.5% of Macnealy Hoover Investment Management Inc.’s portfolio, making the stock its 22nd biggest holding. Macnealy Hoover Investment Management Inc.’s holdings in Air Products & Chemicals were worth $1,994,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Athena Capital Advisors LLC purchased a new stake in shares of Air Products & Chemicals in the fourth quarter valued at approximately $28,000. Old North State Trust LLC boosted its stake in shares of Air Products & Chemicals by 376.1% in the fourth quarter. Old North State Trust LLC now owns 219 shares of the basic materials company’s stock valued at $35,000 after buying an additional 173 shares in the last quarter. Pinnacle Bank purchased a new stake in shares of Air Products & Chemicals in the fourth quarter valued at approximately $38,000. Transamerica Financial Advisors Inc. boosted its stake in shares of Air Products & Chemicals by 617.6% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 244 shares of the basic materials company’s stock valued at $39,000 after buying an additional 210 shares in the last quarter. Finally, Legacy Financial Advisors Inc. boosted its stake in shares of Air Products & Chemicals by 109.0% in the fourth quarter. Legacy Financial Advisors Inc. now owns 255 shares of the basic materials company’s stock valued at $41,000 after buying an additional 133 shares in the last quarter. 87.52% of the stock is currently owned by institutional investors and hedge funds.

APD opened at $197.10 on Wednesday. The company has a current ratio of 2.21, a quick ratio of 2.03 and a debt-to-equity ratio of 0.30. The firm has a market cap of $42.59 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 1.82 and a beta of 0.82. Air Products & Chemicals, Inc. has a one year low of $148.44 and a one year high of $197.33.

Air Products & Chemicals (NYSE:APD) last posted its earnings results on Friday, January 25th. The basic materials company reported $1.86 EPS for the quarter, missing the Zacks’ consensus estimate of $1.87 by ($0.01). The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.27 billion. Air Products & Chemicals had a return on equity of 15.13% and a net margin of 18.92%. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.79 earnings per share. On average, equities analysts anticipate that Air Products & Chemicals, Inc. will post 8.18 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, April 1st will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.35%. This is an increase from Air Products & Chemicals’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Friday, March 29th. Air Products & Chemicals’s payout ratio is presently 62.28%.

APD has been the topic of a number of analyst reports. Zacks Investment Research upgraded Air Products & Chemicals from a “hold” rating to a “buy” rating and set a $179.00 price target on the stock in a research note on Tuesday, January 8th. Bank of America downgraded Air Products & Chemicals from a “neutral” rating to an “underperform” rating and set a $170.00 price target on the stock. in a research note on Tuesday, January 8th. They noted that the move was a valuation call. Credit Suisse Group lifted their price target on Air Products & Chemicals from $188.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. BMO Capital Markets boosted their target price on Air Products & Chemicals from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 9th. Finally, KeyCorp boosted their target price on Air Products & Chemicals from $195.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. One analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $194.20.

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Air Products & Chemicals Company Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.

See Also: Compound Annual Growth Rate (CAGR)

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Institutional Ownership by Quarter for Air Products & Chemicals (NYSE:APD)

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