Aviance Capital Partners LLC Invests $727,000 in Air Products and Chemicals, Inc. (NYSE:APD)

Aviance Capital Partners LLC acquired a new stake in Air Products and Chemicals, Inc. (NYSE:APD) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 3,000 shares of the basic materials company’s stock, valued at approximately $727,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in APD. Eos Management L.P. lifted its stake in shares of Air Products and Chemicals by 26.2% in the 4th quarter. Eos Management L.P. now owns 27,558 shares of the basic materials company’s stock worth $7,545,000 after acquiring an additional 5,727 shares during the period. Roffman Miller Associates Inc. PA lifted its position in Air Products and Chemicals by 3.6% in the fourth quarter. Roffman Miller Associates Inc. PA now owns 65,192 shares of the basic materials company’s stock worth $17,850,000 after purchasing an additional 2,285 shares during the period. BKM Wealth Management LLC bought a new position in Air Products and Chemicals during the 4th quarter valued at $1,177,000. Zenyatta Capital Management LP increased its position in shares of Air Products and Chemicals by 46.7% during the 4th quarter. Zenyatta Capital Management LP now owns 22,000 shares of the basic materials company’s stock valued at $6,024,000 after purchasing an additional 7,000 shares during the period. Finally, Bristol John W & Co. Inc. NY raised its stake in shares of Air Products and Chemicals by 37.6% in the 4th quarter. Bristol John W & Co. Inc. NY now owns 388,474 shares of the basic materials company’s stock worth $106,364,000 after buying an additional 106,054 shares in the last quarter. 81.66% of the stock is owned by institutional investors.

Air Products and Chemicals Stock Performance

APD stock opened at $247.18 on Tuesday. The firm has a 50 day simple moving average of $259.73 and a 200 day simple moving average of $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 $54.95 billion, a P/E ratio of 22.31, a P/E/G ratio of 2.80 and a beta of 0.81. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.31 and a current ratio of 1.49.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $2.85 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $3.05 billion. During the same period in the previous year, the company posted $2.74 EPS. Air Products and Chemicals’s revenue was down 8.4% on a year-over-year basis. Research analysts anticipate 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, August 12th. Investors of record on Monday, July 1st will be issued a $1.77 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $7.08 dividend on an annualized basis and a yield of 2.86%. Air Products and Chemicals’s dividend payout ratio is currently 63.90%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their target price 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. Mizuho lowered their price objective on shares of Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Barclays raised their target price on shares of Air Products and Chemicals from $245.00 to $290.00 and gave the stock an “equal weight” rating in a report on Monday, June 10th. BMO Capital Markets upped their price target on Air Products and Chemicals from $276.00 to $294.00 and gave the company an “outperform” rating in a report on Monday, June 10th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Air Products and Chemicals from $260.00 to $310.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.