Commerce Bank boosted its position in Air Products & Chemicals, Inc. (NYSE:APD) by 7.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,598 shares of the basic materials company’s stock after purchasing an additional 1,684 shares during the quarter. Commerce Bank’s holdings in Air Products & Chemicals were worth $4,710,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Sound Income Strategies LLC lifted its position in Air Products & Chemicals by 118.6% in the 1st 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 during the last quarter. Wealth Quarterback LLC bought a new stake in Air Products & Chemicals in the 4th quarter valued at about $30,000. Stonebridge Financial Planning Group LLC bought a new stake in Air Products & Chemicals in the 1st quarter valued at about $32,000. TI Trust Inc. bought a new stake in Air Products & Chemicals in the 4th quarter valued at about $36,000. Finally, Lowe Wealth Advisors LLC bought a new stake in Air Products & Chemicals in the 1st quarter valued at about $40,000. Hedge funds and other institutional investors own 83.60% of the company’s stock.
APD has been the topic of several recent research reports. SunTrust Banks lifted their price objective on shares of Air Products & Chemicals from $255.00 to $265.00 and gave the company a “positive” rating in a research report on Monday, January 27th. UBS Group cut their price objective on shares of Air Products & Chemicals from $238.00 to $205.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 8th. BMO Capital Markets dropped their price target on shares of Air Products & Chemicals from $275.00 to $245.00 and set an “outperform” rating on the stock in a research report on Thursday, March 26th. Atlantic Securities upgraded shares of Air Products & Chemicals to a “buy” rating in a research report on Monday, March 16th. Finally, Argus restated a “buy” rating and set a $234.00 price target (down from $276.00) on shares of Air Products & Chemicals in a research report on Wednesday, March 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $247.33.
Shares of APD opened at $234.35 on Friday. The firm’s 50 day moving average is $219.14 and its 200-day moving average is $227.68. The stock has a market capitalization of $52.02 billion, a P/E ratio of 26.89, a P/E/G ratio of 2.94 and a beta of 0.86. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.59 and a quick ratio of 2.37. Air Products & Chemicals, Inc. has a 12-month low of $167.43 and a 12-month high of $257.01.
Air Products & Chemicals (NYSE:APD) last released its earnings results on Thursday, April 23rd. The basic materials company reported $2.04 earnings per share for the quarter, missing the consensus estimate of $2.06 by ($0.02). The firm had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Air Products & Chemicals had a return on equity of 16.36% and a net margin of 21.66%. The business’s revenue was up 1.3% on a year-over-year basis. During the same period last year, the business earned $2.00 earnings per share. As a group, equities research analysts forecast that Air Products & Chemicals, Inc. will post 8.48 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Wednesday, July 1st will be given a $1.34 dividend. This represents a $5.36 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Tuesday, June 30th. Air Products & Chemicals’s dividend payout ratio (DPR) is currently 65.29%.
Air Products & Chemicals 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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