AMI Asset Management Corp Acquires 11,194 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

AMI Asset Management Corp lifted its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 12.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 98,796 shares of the basic materials company’s stock after purchasing an additional 11,194 shares during the quarter. AMI Asset Management Corp’s holdings in Air Products and Chemicals were worth $23,935,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Turtle Creek Wealth Advisors LLC bought a new position in Air Products and Chemicals in the fourth quarter valued at approximately $27,000. Roble Belko & Company Inc bought a new position in Air Products and Chemicals in the fourth quarter valued at approximately $27,000. Sachetta LLC bought a new position in Air Products and Chemicals in the fourth quarter valued at approximately $27,000. Security National Bank bought a new position in Air Products and Chemicals in the fourth quarter valued at approximately $27,000. Finally, Thompson Investment Management Inc. bought a new position in Air Products and Chemicals in the first quarter valued at approximately $27,000. 81.66% of the stock is owned by institutional investors.

Air Products and Chemicals Trading Up 0.8 %

NYSE APD traded up $2.00 during mid-day trading on Thursday, reaching $253.00. 763,687 shares of the stock were exchanged, compared to its average volume of 2,109,843. Air Products and Chemicals, Inc. has a one year low of $212.24 and a one year high of $307.71. The stock has a 50 day simple moving average of $260.69 and a 200-day simple moving average of $251.41. The stock has a market cap of $56.24 billion, a P/E ratio of 22.83, a P/E/G ratio of 2.72 and a beta of 0.81. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.49 and a quick ratio of 1.31.

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

Air Products and Chemicals Announces Dividend

The business also recently declared 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. This represents a $7.08 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Monday, July 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 63.90%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. TD Cowen lifted 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 note on Wednesday, May 1st. Mizuho cut 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 report on Wednesday, May 1st. Morgan Stanley raised their target price on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Air Products and Chemicals from $260.00 to $310.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Finally, BMO Capital Markets lifted their price target on shares of Air Products and Chemicals from $276.00 to $294.00 and gave the stock an “outperform” rating in a report on Monday, June 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $287.29.

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; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.