Indiana Trust & Investment Management CO Sells 75 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Indiana Trust & Investment Management CO decreased its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 4.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,524 shares of the basic materials company’s stock after selling 75 shares during the period. Indiana Trust & Investment Management CO’s holdings in Air Products and Chemicals were worth $369,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Cape Cod Five Cents Savings Bank bought a new stake in shares of Air Products and Chemicals in the 3rd quarter valued at about $376,000. Eos Management L.P. grew its holdings in Air Products and Chemicals by 26.2% in the fourth quarter. Eos Management L.P. now owns 27,558 shares of the basic materials company’s stock worth $7,545,000 after purchasing an additional 5,727 shares during the last quarter. Roffman Miller Associates Inc. PA increased its position in shares of Air Products and Chemicals by 3.6% during the fourth quarter. Roffman Miller Associates Inc. PA now owns 65,192 shares of the basic materials company’s stock worth $17,850,000 after purchasing an additional 2,285 shares in the last quarter. BKM Wealth Management LLC purchased a new stake in shares of Air Products and Chemicals during the 4th quarter valued at $1,177,000. Finally, Zenyatta Capital Management LP boosted its position in shares of Air Products and Chemicals by 46.7% in the 4th quarter. Zenyatta Capital Management LP now owns 22,000 shares of the basic materials company’s stock worth $6,024,000 after purchasing an additional 7,000 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Price Performance

NYSE:APD traded down $5.02 during mid-day trading on Friday, hitting $258.05. 2,606,668 shares of the company’s stock traded hands, compared to its average volume of 1,775,889. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $307.71. The company has a market cap of $57.37 billion, a PE ratio of 23.51, a price-to-earnings-growth ratio of 2.86 and a beta of 0.84. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.31 and a current ratio of 1.49. The firm’s 50 day simple moving average is $258.60 and its 200 day simple moving average is $251.91.

Air Products and Chemicals (NYSE:APD) last posted its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.70 by $0.15. Air Products and Chemicals had a return on equity of 16.56% and a net margin of 20.32%. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same quarter in the prior year, the company earned $2.74 EPS. Air Products and Chemicals’s revenue was down 8.4% on a year-over-year basis. Sell-side analysts expect that Air Products and Chemicals, Inc. will post 12.3 EPS for the current year.

Air Products and Chemicals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 12th. Investors of record on Monday, July 1st will be given a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.74%. The ex-dividend date is Monday, July 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 63.90%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Morgan Stanley boosted their price target on Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 5th. BMO Capital Markets lifted their price objective on Air Products and Chemicals from $276.00 to $294.00 and gave the stock an “outperform” rating in a report on Monday, June 10th. StockNews.com raised Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Friday, June 21st. TD Cowen lifted their price target on Air Products and Chemicals from $305.00 to $320.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, Barclays increased their price objective on Air Products and Chemicals from $245.00 to $290.00 and gave the company an “equal weight” rating in a research note on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Air Products and Chemicals presently has a consensus rating of “Hold” and an average price target of $287.29.

About Air Products and Chemicals

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.