Cornell Pochily Investment Advisors Inc. Cuts Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Cornell Pochily Investment Advisors Inc. reduced its position in Air Products and Chemicals, Inc. (NYSE:APD) by 16.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,622 shares of the basic materials company’s stock after selling 532 shares during the quarter. Cornell Pochily Investment Advisors Inc.’s holdings in Air Products and Chemicals were worth $718,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in APD. Cape Cod Five Cents Savings Bank acquired a new stake in Air Products and Chemicals in the 3rd quarter valued at $376,000. BKM Wealth Management LLC acquired a new stake in shares of Air Products and Chemicals during the fourth quarter valued at about $1,177,000. Bellwether Advisors LLC acquired a new stake in shares of Air Products and Chemicals during the third quarter valued at about $501,000. W.H. Cornerstone Investments Inc. grew its stake in shares of Air Products and Chemicals by 5.9% during the third quarter. W.H. Cornerstone Investments Inc. now owns 5,871 shares of the basic materials company’s stock valued at $1,664,000 after acquiring an additional 325 shares in the last quarter. Finally, Cox Capital Mgt LLC grew its stake in shares of Air Products and Chemicals by 75.3% during the fourth quarter. Cox Capital Mgt LLC now owns 12,103 shares of the basic materials company’s stock valued at $3,314,000 after acquiring an additional 5,198 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Price Performance

NYSE:APD traded up $0.47 during midday trading on Thursday, hitting $241.80. 246,741 shares of the stock were exchanged, compared to its average volume of 1,819,769. Air Products and Chemicals, Inc. has a one year low of $212.24 and a one year high of $307.71. The company has a market capitalization of $53.75 billion, a price-to-earnings ratio of 23.10, a P/E/G ratio of 2.62 and a beta of 0.81. The business has a 50-day moving average price of $240.12 and a two-hundred day moving average price of $264.16. The company has a current ratio of 1.81, a quick ratio of 1.58 and a debt-to-equity ratio of 0.74.

Air Products and Chemicals (NYSE:APD) last announced its 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). The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.20 billion. Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. Air Products and Chemicals’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.64 EPS. Sell-side analysts predict that Air Products and Chemicals, Inc. will post 12.38 EPS for the current year.

Air Products and Chemicals Increases Dividend

The firm also recently declared 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. 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 annualized dividend and a yield of 2.93%. Air Products and Chemicals’s payout ratio is 66.79%.

Analyst Ratings Changes

Several analysts have recently weighed in on APD shares. Wells Fargo & Company downgraded Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a research note on Monday, February 5th. Morgan Stanley decreased 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 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. Wolfe Research assumed coverage on Air Products and Chemicals in a research note on Friday, March 1st. They issued an “outperform” rating and a $279.00 price target for the company. Finally, Mizuho cut their target price on shares of Air Products and Chemicals from $304.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $280.29.

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.