Financial Management Professionals Inc. Raises Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Financial Management Professionals Inc. grew its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 47.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,497 shares of the basic materials company’s stock after acquiring an additional 484 shares during the period. Financial Management Professionals Inc.’s holdings in Air Products and Chemicals were worth $363,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Fifth Third Wealth Advisors LLC boosted its stake in Air Products and Chemicals by 35.9% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 2,595 shares of the basic materials company’s stock worth $629,000 after purchasing an additional 686 shares during the period. Scharf Investments LLC purchased a new position in Air Products and Chemicals during the first quarter valued at $87,173,000. Wealth Enhancement Advisory Services LLC grew its stake in Air Products and Chemicals by 6.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 222,397 shares of the basic materials company’s stock valued at $53,880,000 after acquiring an additional 13,946 shares in the last quarter. Procyon Advisors LLC increased its holdings in Air Products and Chemicals by 141.7% in the 1st quarter. Procyon Advisors LLC now owns 6,735 shares of the basic materials company’s stock valued at $1,632,000 after acquiring an additional 3,949 shares during the last quarter. Finally, First National Bank Sioux Falls bought a new position in shares of Air Products and Chemicals during the 1st quarter valued at about $267,000. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

APD stock opened at $258.05 on Friday. The business’s fifty day simple moving average is $259.73 and its two-hundred day simple moving average is $251.83. The company has a quick ratio of 1.31, a current ratio of 1.49 and a debt-to-equity ratio of 0.77. The firm has a market cap of $57.37 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 2.85 and a beta of 0.84. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $307.71.

Air Products and Chemicals (NYSE:APD) last issued its earnings results 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 net margin of 20.32% and a return on equity of 16.56%. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the prior year, the firm earned $2.74 EPS. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. Analysts predict that Air Products and Chemicals, Inc. will post 12.3 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Shareholders of record on Monday, July 1st will be issued a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Monday, July 1st. Air Products and Chemicals’s dividend payout ratio is 63.90%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on APD shares. TD Cowen lifted their target price on Air Products and Chemicals from $305.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft increased their target price on Air Products and Chemicals from $260.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Morgan Stanley boosted their price target on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 5th. Mizuho lowered their price objective on shares of 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. Finally, BMO Capital Markets boosted their target price 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 analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Air Products and Chemicals currently has a consensus rating of “Hold” and an average price target 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.