Zurcher Kantonalbank Zurich Cantonalbank Acquires 3,491 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 4.3% in the 4th quarter, HoldingsChannel reports. The fund owned 85,173 shares of the basic materials company’s stock after buying an additional 3,491 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Air Products and Chemicals were worth $23,320,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Turtle Creek Wealth Advisors LLC bought a new position in Air Products and Chemicals during the 4th quarter worth approximately $27,000. Legacy Bridge LLC bought a new position in Air Products and Chemicals during the 4th quarter worth approximately $35,000. FinTrust Capital Advisors LLC boosted its stake in Air Products and Chemicals by 40.4% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 132 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 38 shares during the last quarter. Artemis Wealth Advisors LLC bought a new position in Air Products and Chemicals during the 3rd quarter worth approximately $39,000. Finally, Fortitude Family Office LLC bought a new position in Air Products and Chemicals in the fourth quarter valued at approximately $42,000. Institutional investors own 81.66% of the company’s stock.

Analysts Set New Price Targets

APD has been the topic of a number of research reports. Wolfe Research initiated coverage on shares of Air Products and Chemicals in a research note on Friday, March 1st. They issued an “outperform” rating and a $279.00 price target on the stock. Mizuho lowered their price objective 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. JPMorgan Chase & Co. lowered their price objective 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. UBS Group downgraded shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $328.00 to $241.00 in a report on Thursday, February 8th. Finally, Argus downgraded shares of Air Products and Chemicals from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $276.36.

Air Products and Chemicals Trading Up 0.6 %

Shares of Air Products and Chemicals stock opened at $229.08 on Thursday. The firm has a 50-day moving average of $235.38 and a 200-day moving average of $257.98. The stock has a market cap of $50.92 billion, a PE ratio of 21.86, a PEG ratio of 2.54 and a beta of 0.81. Air Products and Chemicals, Inc. has a 52-week low of $212.24 and a 52-week high of $307.71. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.58 and a current ratio of 1.81.

Air Products and Chemicals (NYSE:APD) last issued 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). Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same period in the previous year, the firm posted $2.64 EPS. The firm’s revenue was down 5.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Air Products and Chemicals, Inc. will post 12.38 EPS for the current 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 given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Thursday, March 28th. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.75. Air Products and Chemicals’s dividend payout ratio is currently 67.56%.

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.