Air Products and Chemicals, Inc. (NYSE:APD) Stake Boosted by Armstrong Henry H Associates Inc.

Armstrong Henry H Associates Inc. lifted its stake in shares of Air Products and Chemicals, Inc. (NYSE:APDFree Report) by 0.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,991 shares of the basic materials company’s stock after buying an additional 269 shares during the quarter. Air Products and Chemicals comprises 1.3% of Armstrong Henry H Associates Inc.’s portfolio, making the stock its 10th largest position. Armstrong Henry H Associates Inc.’s holdings in Air Products and Chemicals were worth $13,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of APD. Cape Cod Five Cents Savings Bank purchased a new stake in Air Products and Chemicals in the third quarter worth about $376,000. Eos Management L.P. lifted its stake in shares of 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 buying an additional 5,727 shares in the last quarter. Roffman Miller Associates Inc. PA lifted its stake in shares of Air Products and Chemicals by 3.6% in 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 buying an additional 2,285 shares in the last quarter. BKM Wealth Management LLC bought a new position in shares of Air Products and Chemicals in the fourth quarter worth approximately $1,177,000. Finally, Zenyatta Capital Management LP lifted its stake in shares of Air Products and Chemicals by 46.7% in the fourth quarter. Zenyatta Capital Management LP now owns 22,000 shares of the basic materials company’s stock worth $6,024,000 after buying an additional 7,000 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analysts Set New Price Targets

APD has been the topic of several analyst reports. Mizuho dropped their target price on shares of Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Morgan Stanley upped their target price on shares of 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. Barclays upped their target price on shares of Air Products and Chemicals from $245.00 to $290.00 and gave the stock an “equal weight” rating in a research note on Monday, June 10th. TD Cowen increased their price objective on shares of Air Products and Chemicals from $305.00 to $320.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, StockNews.com upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Friday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $287.29.

Read Our Latest Research Report on APD

Air Products and Chemicals Price Performance

Shares of NYSE APD traded up $0.84 during midday trading on Friday, reaching $272.91. The stock had a trading volume of 2,500,376 shares, compared to its average volume of 1,359,440. The company has a market capitalization of $60.67 billion, a price-to-earnings ratio of 24.63, a price-to-earnings-growth ratio of 2.95 and a beta of 0.84. The stock has a 50-day moving average of $256.33 and a 200-day moving average of $251.80. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $307.71. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.31 and a current ratio of 1.49.

Air Products and Chemicals (NYSE:APDGet Free Report) last posted its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.70 by $0.15. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. Air Products and Chemicals’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period last year, the company posted $2.74 earnings per share. As a group, research analysts anticipate that Air Products and Chemicals, Inc. will post 12.3 EPS for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 12th. Shareholders of record on Monday, July 1st will be paid a $1.77 dividend. The ex-dividend date is Monday, July 1st. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.59%. Air Products and Chemicals’s payout ratio is currently 63.90%.

Air Products and Chemicals Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Air Products and Chemicals (NYSE:APD)

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