Pitcairn Co. raised its stake in Air Products and Chemicals, Inc. (NYSE:APD – Free Report) by 11.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,054 shares of the basic materials company’s stock after acquiring an additional 211 shares during the period. Pitcairn Co.’s holdings in Air Products and Chemicals were worth $590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also made changes to their positions in the company. Delta Asset Management LLC TN acquired a new position in Air Products and Chemicals in the 4th quarter valued at $28,000. Grey Fox Wealth Advisors LLC purchased a new stake in shares of Air Products and Chemicals in the fourth quarter valued at about $30,000. NewSquare Capital LLC purchased a new stake in Air Products and Chemicals in the 1st quarter valued at approximately $32,000. Carmichael Hill & Associates Inc. acquired a new position in Air Products and Chemicals during the 1st quarter worth approximately $36,000. Finally, ICA Group Wealth Management LLC acquired a new stake in shares of Air Products and Chemicals in the 4th quarter valued at approximately $44,000. Institutional investors and hedge funds own 82.15% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have issued reports on the company. StockNews.com assumed coverage on Air Products and Chemicals in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Mizuho boosted their price objective on shares of Air Products and Chemicals from $322.00 to $330.00 and gave the stock a “buy” rating in a report on Friday. Citigroup assumed coverage on shares of Air Products and Chemicals in a report on Tuesday, June 13th. They issued a “buy” rating and a $317.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Air Products and Chemicals from $340.00 to $325.00 in a research note on Friday, May 12th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Air Products and Chemicals has a consensus rating of “Moderate Buy” and an average target price of $317.33.
Air Products and Chemicals Trading Up 0.9 %
Shares of APD stock opened at $284.43 on Friday. The company has a market capitalization of $63.18 billion, a price-to-earnings ratio of 29.08, a PEG ratio of 2.76 and a beta of 0.86. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 0.61. The firm has a 50-day moving average price of $290.75 and a 200 day moving average price of $288.28. Air Products and Chemicals, Inc. has a twelve month low of $224.75 and a twelve month high of $328.56.
Air Products and Chemicals (NYSE:APD – Get Free Report) last posted its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $0.07. Air Products and Chemicals had a net margin of 16.58% and a return on equity of 16.96%. The business had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.29 billion. During the same quarter in the previous year, the business posted $2.62 earnings per share. The company’s revenue was down 4.9% on a year-over-year basis. Research analysts forecast that Air Products and Chemicals, Inc. will post 11.42 earnings per share for the current fiscal year.
Air Products and Chemicals Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Monday, October 2nd will be paid a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Friday, September 29th. Air Products and Chemicals’s payout ratio is 71.57%.
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; specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, manufacturing, electronics, magnetic resonance imaging, energy production, medical, food, and metals.
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