&Partners Acquires New Stake in Air Products and Chemicals, Inc. (NYSE:APD)

&Partners acquired a new stake in Air Products and Chemicals, Inc. (NYSE:APD) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,283 shares of the basic materials company’s stock, valued at approximately $558,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Central Bank & Trust Co. raised its holdings in shares of Air Products and Chemicals by 9.7% in the 1st quarter. Central Bank & Trust Co. now owns 5,626 shares of the basic materials company’s stock valued at $1,363,000 after buying an additional 497 shares during the period. Sanders Morris Harris LLC purchased a new stake in Air Products and Chemicals during the 1st quarter worth about $567,000. Running Oak Capital LLC increased its holdings in Air Products and Chemicals by 17.4% during the 1st quarter. Running Oak Capital LLC now owns 33,421 shares of the basic materials company’s stock worth $8,097,000 after purchasing an additional 4,954 shares during the period. MJP Associates Inc. ADV purchased a new stake in Air Products and Chemicals during the 1st quarter worth about $421,000. Finally, Dakota Community Bank & Trust NA increased its holdings in Air Products and Chemicals by 55.1% during the 1st quarter. Dakota Community Bank & Trust NA now owns 715 shares of the basic materials company’s stock worth $173,000 after purchasing an additional 254 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on APD shares. JPMorgan Chase & Co. cut their price target on Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Bank of America upped their price objective on Air Products and Chemicals from $275.00 to $312.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. TD Cowen upped their price objective on 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. StockNews.com raised Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Friday. Finally, BMO Capital Markets upped their price objective on Air Products and Chemicals from $276.00 to $294.00 and gave the stock an “outperform” rating in a research report on Monday, June 10th. One research 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’s stock. Based on data from MarketBeat, Air Products and Chemicals presently has an average rating of “Hold” and a consensus target price of $287.29.

Air Products and Chemicals Stock Up 0.3 %

Air Products and Chemicals stock opened at $272.91 on Monday. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $307.71. The stock has a 50 day moving average of $256.33 and a two-hundred day moving average of $251.74. The company has a current ratio of 1.49, a quick ratio of 1.31 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $60.67 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 2.95 and a beta of 0.84.

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

Air Products and Chemicals Announces Dividend

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

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.