Perigon Wealth Management LLC Has $386,000 Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Perigon Wealth Management LLC trimmed its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 10.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,409 shares of the basic materials company’s stock after selling 160 shares during the period. Perigon Wealth Management LLC’s holdings in Air Products and Chemicals were worth $386,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of APD. Cibc World Market Inc. grew its stake in Air Products and Chemicals by 6.9% in the first quarter. Cibc World Market Inc. now owns 1,180 shares of the basic materials company’s stock valued at $295,000 after purchasing an additional 76 shares in the last quarter. Prudential PLC purchased a new position in Air Products and Chemicals in the first quarter valued at about $1,010,000. Cetera Investment Advisers grew its stake in Air Products and Chemicals by 22.3% in the first quarter. Cetera Investment Advisers now owns 5,890 shares of the basic materials company’s stock valued at $1,472,000 after purchasing an additional 1,075 shares in the last quarter. Baird Financial Group Inc. grew its stake in Air Products and Chemicals by 4.4% in the first quarter. Baird Financial Group Inc. now owns 105,875 shares of the basic materials company’s stock valued at $26,459,000 after purchasing an additional 4,470 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its stake in Air Products and Chemicals by 17.1% in the first quarter. Parkside Financial Bank & Trust now owns 755 shares of the basic materials company’s stock valued at $188,000 after purchasing an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

APD opened at $227.76 on Wednesday. The firm has a market capitalization of $50.63 billion, a P/E ratio of 21.73, a price-to-earnings-growth ratio of 2.55 and a beta of 0.81. The stock’s 50 day moving average price is $235.11 and its two-hundred day moving average price is $258.18. 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, Inc. has a 12-month low of $212.24 and a 12-month high of $307.71.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Monday, February 5th. The basic materials company reported $2.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.00 by ($0.18). The business had revenue of $3 billion during the quarter, compared to analyst estimates 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 quarterly revenue was down 5.6% compared to the same quarter last year. During the same period last year, the business earned $2.64 EPS. On average, equities analysts forecast that Air Products and Chemicals, Inc. will post 12.38 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, April 1st will be given a $1.77 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $7.08 dividend on an annualized basis and a dividend yield of 3.11%. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.75. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 67.56%.

Wall Street Analyst Weigh In

APD has been the topic of a number of recent research reports. Morgan Stanley lowered their target price on Air Products and Chemicals from $285.00 to $240.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 7th. TD Cowen decreased their price target on Air Products and Chemicals from $345.00 to $305.00 and set an “outperform” rating for the company in a research note on Friday, February 16th. Barclays decreased their price target on Air Products and Chemicals from $260.00 to $245.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 6th. UBS Group downgraded Air Products and Chemicals from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $328.00 to $241.00 in a research note on Thursday, February 8th. Finally, 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 research note on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $276.36.

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.