Mackenzie Financial Corp Sells 58,196 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Mackenzie Financial Corp lessened its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 66.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 28,938 shares of the basic materials company’s stock after selling 58,196 shares during the period. Mackenzie Financial Corp’s holdings in Air Products and Chemicals were worth $7,923,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Turtle Creek Wealth Advisors LLC bought a new stake in Air Products and Chemicals during the 4th quarter worth approximately $27,000. Legacy Bridge LLC bought a new position in shares of Air Products and Chemicals in the 4th quarter worth $35,000. FinTrust Capital Advisors LLC increased its holdings in shares of Air Products and Chemicals by 40.4% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 132 shares of the basic materials company’s stock worth $37,000 after buying an additional 38 shares during the last quarter. Artemis Wealth Advisors LLC bought a new position in shares of Air Products and Chemicals in the 3rd quarter worth $39,000. Finally, ICA Group Wealth Management LLC bought a new position in shares of Air Products and Chemicals in the 4th quarter worth $44,000. Institutional investors own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wells Fargo & Company lowered shares of Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a report on Monday, February 5th. BMO Capital Markets decreased their price target on shares of Air Products and Chemicals from $307.00 to $250.00 and set an “outperform” rating on the stock in a report on Tuesday, February 6th. Mizuho cut their price objective on shares of Air Products and Chemicals from $304.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. Argus cut shares of Air Products and Chemicals from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Air Products and Chemicals from $295.00 to $270.00 and set an “overweight” rating for the company in a research note on Tuesday, February 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Air Products and Chemicals presently has a consensus rating of “Hold” and an average target price of $276.36.

Air Products and Chemicals Trading Down 0.6 %

Shares of APD opened at $231.67 on Friday. The stock has a market capitalization of $51.50 billion, a P/E ratio of 22.11, a PEG ratio of 2.52 and a beta of 0.81. 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 fifty day simple moving average of $235.88 and a two-hundred day simple moving average of $257.47. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $307.71.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings results on Monday, February 5th. The basic materials company reported $2.82 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($0.18). The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.20 billion. Air Products and Chemicals had a net margin of 18.82% and a return on equity of 16.84%. The company’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.64 EPS. On average, research analysts anticipate that Air Products and Chemicals, Inc. will post 12.38 EPS for the current year.

Air Products and Chemicals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, April 1st will be paid a dividend of $1.77 per share. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.75. 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 3.06%. Air Products and Chemicals’s payout ratio is presently 67.56%.

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.