Air Products and Chemicals, Inc. (NYSE:APD) Shares Purchased by Grandfield & Dodd LLC

Grandfield & Dodd LLC raised its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 7.8% in the first quarter, Holdings Channel.com reports. The fund owned 104,849 shares of the basic materials company’s stock after buying an additional 7,621 shares during the quarter. Air Products and Chemicals makes up 1.6% of Grandfield & Dodd LLC’s investment portfolio, making the stock its 23rd largest position. Grandfield & Dodd LLC’s holdings in Air Products and Chemicals were worth $25,402,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Capital Research Global Investors lifted its stake in shares of Air Products and Chemicals by 167.2% in the fourth quarter. Capital Research Global Investors now owns 6,921,011 shares of the basic materials company’s stock valued at $1,894,973,000 after purchasing an additional 4,330,471 shares during the period. Norges Bank acquired a new stake in shares of Air Products and Chemicals during the 4th quarter valued at approximately $852,288,000. Nordea Investment Management AB boosted its stake in shares of Air Products and Chemicals by 1,696.4% during the 4th quarter. Nordea Investment Management AB now owns 518,197 shares of the basic materials company’s stock worth $142,344,000 after acquiring an additional 489,350 shares in the last quarter. Scharf Investments LLC purchased a new position in Air Products and Chemicals in the 1st quarter valued at approximately $87,173,000. Finally, Morningstar Investment Services LLC raised its holdings in Air Products and Chemicals by 96.4% during the fourth quarter. Morningstar Investment Services LLC now owns 684,057 shares of the basic materials company’s stock worth $187,589,000 after purchasing an additional 335,717 shares during the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on APD shares. Morgan Stanley upped their target price on Air Products and Chemicals from $240.00 to $280.00 and gave the company an “equal weight” rating in a report on Wednesday, June 5th. TD Cowen lifted their target price on shares of Air Products and Chemicals from $305.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. dropped their price objective on shares of Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Citigroup reduced their target price on Air Products and Chemicals from $285.00 to $280.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Finally, Mizuho dropped their price target on Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $289.64.

Air Products and Chemicals Trading Up 0.8 %

Air Products and Chemicals stock traded up $2.12 during trading on Thursday, reaching $257.78. The company had a trading volume of 1,410,475 shares, compared to its average volume of 1,770,211. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.31 and a current ratio of 1.49. The firm has a market capitalization of $57.31 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 2.76 and a beta of 0.81. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $307.71. The stock’s 50 day moving average price is $262.73 and its two-hundred day moving average price is $250.86.

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

Air Products and Chemicals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Stockholders of record on Monday, July 1st will be issued a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Monday, July 1st. Air Products and Chemicals’s payout ratio is currently 63.90%.

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.