Chapin Davis Inc. Acquires 2,420 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Chapin Davis Inc. grew its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 67.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,015 shares of the basic materials company’s stock after buying an additional 2,420 shares during the quarter. Chapin Davis Inc.’s holdings in Air Products and Chemicals were worth $1,457,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Trexquant Investment LP bought a new position in shares of Air Products and Chemicals during the third quarter valued at about $1,113,000. Teza Capital Management LLC grew its holdings in shares of Air Products and Chemicals by 24.4% in the third quarter. Teza Capital Management LLC now owns 5,519 shares of the basic materials company’s stock valued at $1,564,000 after acquiring an additional 1,082 shares in the last quarter. Schonfeld Strategic Advisors LLC lifted its holdings in Air Products and Chemicals by 97.6% during the third quarter. Schonfeld Strategic Advisors LLC now owns 18,593 shares of the basic materials company’s stock worth $5,269,000 after acquiring an additional 9,183 shares during the period. Waverly Advisors LLC boosted its position in Air Products and Chemicals by 45.5% in the third quarter. Waverly Advisors LLC now owns 6,513 shares of the basic materials company’s stock worth $1,846,000 after purchasing an additional 2,037 shares during the last quarter. Finally, Appian Way Asset Management LP bought a new position in Air Products and Chemicals in the 3rd quarter valued at $25,249,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Stock Up 0.3 %

APD opened at $257.15 on Monday. 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 business’s fifty day simple moving average is $259.73 and its 200 day simple moving average is $251.71. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $307.71. The stock has a market cap of $57.17 billion, a PE ratio of 23.29, a P/E/G ratio of 2.80 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.70 by $0.15. The company 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%. Air Products and Chemicals’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company 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 fiscal year.

Air Products and Chemicals Dividend Announcement

The business also recently declared 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 yield of 2.75%. Air Products and Chemicals’s payout ratio is 63.90%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on APD. StockNews.com raised shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Saturday. Deutsche Bank Aktiengesellschaft upped their price objective on Air Products and Chemicals from $260.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Citigroup decreased their target price on Air Products and Chemicals from $285.00 to $280.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Bank of America increased their price target on Air Products and Chemicals from $275.00 to $312.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Finally, 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 on the stock in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $287.29.

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.