Sanders Morris Harris LLC acquired a new stake in shares of Air Products & Chemicals, Inc. (NYSE:APD) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,075 shares of the basic materials company’s stock, valued at approximately $501,000.
Several other institutional investors have also recently modified their holdings of APD. Sound Income Strategies LLC grew its position in shares of Air Products & Chemicals by 118.6% during the first quarter. Sound Income Strategies LLC now owns 129 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 70 shares in the last quarter. Wealth Quarterback LLC bought a new position in shares of Air Products & Chemicals in the 4th quarter valued at about $30,000. Stonebridge Financial Planning Group LLC bought a new position in shares of Air Products & Chemicals in the 1st quarter valued at about $32,000. Front Row Advisors LLC bought a new position in shares of Air Products & Chemicals in the 1st quarter valued at about $35,000. Finally, Lowe Wealth Advisors LLC bought a new position in shares of Air Products & Chemicals in the 1st quarter valued at about $40,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.
A number of research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Air Products & Chemicals from a “hold” rating to a “sell” rating and set a $230.00 price target for the company. in a report on Monday, April 27th. Wells Fargo & Co lowered their price target on shares of Air Products & Chemicals from $265.00 to $260.00 and set an “overweight” rating for the company in a report on Friday, April 24th. Citigroup increased their price target on shares of Air Products & Chemicals from $256.00 to $261.00 and gave the company a “buy” rating in a report on Friday, April 24th. Sanford C. Bernstein raised shares of Air Products & Chemicals from a “market perform” rating to an “outperform” rating and increased their price target for the company from $246.00 to $262.00 in a report on Wednesday, April 15th. Finally, HSBC downgraded shares of Air Products & Chemicals from a “buy” rating to a “hold” rating and set a $225.00 price target for the company. in a report on Tuesday, June 16th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $258.61.
NYSE APD traded down $0.58 during trading hours on Thursday, hitting $269.21. 9,704 shares of the company’s stock traded hands, compared to its average volume of 1,037,376. Air Products & Chemicals, Inc. has a 52-week low of $167.43 and a 52-week high of $276.86. The company has a market capitalization of $58.56 billion, a PE ratio of 30.80, a PEG ratio of 3.52 and a beta of 0.85. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.59 and a quick ratio of 2.37. The firm’s 50-day moving average is $240.64 and its 200-day moving average is $229.75.
Air Products & Chemicals (NYSE:APD) last announced its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.02). Air Products & Chemicals had a net margin of 21.66% and a return on equity of 16.36%. The business had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the company posted $2.00 EPS. The firm’s revenue was up 1.3% on a year-over-year basis. Equities research analysts predict that Air Products & Chemicals, Inc. will post 8.48 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Wednesday, July 1st will be paid a dividend of $1.34 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $5.36 annualized dividend and a yield of 1.99%. Air Products & Chemicals’s dividend payout ratio is presently 65.29%.
Air Products & Chemicals Company Profile
Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and 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, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.
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