RNC Capital Management LLC Has $1.58 Million Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

RNC Capital Management LLC decreased its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 6.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,773 shares of the basic materials company’s stock after selling 411 shares during the quarter. RNC Capital Management LLC’s holdings in Air Products and Chemicals were worth $1,581,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Legacy Bridge LLC acquired a new stake in shares of Air Products and Chemicals in the 4th quarter valued at approximately $35,000. FinTrust Capital Advisors LLC raised its position 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 valued at $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 approximately $39,000. Fortitude Family Office LLC acquired a new stake in Air Products and Chemicals during the 4th quarter worth approximately $42,000. Finally, ICA Group Wealth Management LLC acquired a new stake in Air Products and Chemicals during the 4th quarter worth approximately $44,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Air Products and Chemicals Price Performance

Shares of APD stock opened at $243.06 on Thursday. 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 business’s fifty day moving average is $240.12 and its 200 day moving average is $264.16. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $307.71. The stock has a market cap of $54.03 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 2.62 and a beta of 0.81.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $3.00 by ($0.18). The business had revenue of $3 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.64 earnings per share. Research analysts expect that Air Products and Chemicals, Inc. will post 12.38 EPS for the current fiscal year.

Air Products and Chemicals Increases Dividend

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 issued a $1.77 dividend. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.75. The ex-dividend date is Thursday, March 28th. This represents a $7.08 dividend on an annualized basis and a yield of 2.91%. Air Products and Chemicals’s dividend payout ratio is currently 66.79%.

Analyst Ratings Changes

APD has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Air Products and Chemicals from $295.00 to $270.00 and set an “overweight” rating on the stock in a report on Tuesday, February 6th. Barclays decreased their price target on shares of 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. Mizuho decreased their price target 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. TheStreet cut shares of Air Products and Chemicals from a “b” rating to a “c+” rating in a research note on Monday, February 5th. Finally, 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 for the company in a research note on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $280.29.

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.