GAMMA Investing LLC Increases Position in Air Products and Chemicals, Inc. (NYSE:APD)

GAMMA Investing LLC grew its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 5.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,522 shares of the basic materials company’s stock after acquiring an additional 72 shares during the quarter. GAMMA Investing LLC’s holdings in Air Products and Chemicals were worth $369,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in APD. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Air Products and Chemicals in the 4th quarter worth $27,000. Roble Belko & Company Inc acquired a new stake in shares of Air Products and Chemicals in the 4th quarter worth $27,000. Sachetta LLC acquired a new stake in shares of Air Products and Chemicals in the 4th quarter worth $27,000. Security National Bank acquired a new stake in shares of Air Products and Chemicals in the 4th quarter worth $27,000. Finally, Transcendent Capital Group LLC acquired a new stake in shares of Air Products and Chemicals in the 4th quarter worth $28,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Up 0.6 %

Shares of NYSE APD opened at $274.70 on Thursday. The company has a current ratio of 1.49, a quick ratio of 1.31 and a debt-to-equity ratio of 0.77. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $307.71. The business’s fifty day simple moving average is $254.79 and its 200-day simple moving average is $251.71. The stock has a market cap of $61.07 billion, a P/E ratio of 24.79, a PEG ratio of 2.98 and a beta of 0.84.

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

Air Products and Chemicals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 12th. Investors of record on Monday, July 1st will be given a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $7.08 annualized dividend and a dividend yield of 2.58%. Air Products and Chemicals’s dividend payout ratio is currently 63.90%.

Wall Street Analyst Weigh In

Several analysts have weighed in on APD shares. Morgan Stanley boosted their price target on Air Products and Chemicals from $240.00 to $280.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 5th. Argus downgraded Air Products and Chemicals from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Wolfe Research started coverage on Air Products and Chemicals in a research note on Friday, March 1st. They set an “outperform” rating and a $279.00 price target on the stock. Citigroup dropped their price target 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, TD Cowen boosted their price target on 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. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Air Products and Chemicals has a consensus rating of “Hold” and an average target price of $287.29.

About Air Products and Chemicals

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.