Miracle Mile Advisors LLC Purchases 69 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Miracle Mile Advisors LLC boosted its position in Air Products and Chemicals, Inc. (NYSE:APD) by 5.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,294 shares of the basic materials company’s stock after acquiring an additional 69 shares during the period. Miracle Mile Advisors LLC’s holdings in Air Products and Chemicals were worth $313,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Air Products and Chemicals during the 4th quarter valued at approximately $27,000. Roble Belko & Company Inc bought a new position in shares of Air Products and Chemicals in the fourth quarter worth $27,000. Sachetta LLC purchased a new position in shares of Air Products and Chemicals in the fourth quarter valued at $27,000. Security National Bank bought a new stake in shares of Air Products and Chemicals during the 4th quarter valued at $27,000. Finally, Transcendent Capital Group LLC purchased a new stake in Air Products and Chemicals during the 4th quarter worth about $28,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Price Performance

Shares of NYSE:APD opened at $247.18 on Tuesday. 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 stock has a market cap of $54.95 billion, a PE ratio of 22.31, a PEG ratio of 2.80 and a beta of 0.81. The company’s fifty day moving average is $259.73 and its 200 day 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.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.70 by $0.15. The firm had revenue of $2.93 billion for 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 quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.74 earnings per share. Research analysts anticipate 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. Stockholders 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 2.86%. The ex-dividend date is Monday, July 1st. Air Products and Chemicals’s dividend payout ratio is 63.90%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Morgan Stanley upped 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 report on Wednesday, June 5th. Barclays upped their price target 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. Mizuho dropped their price objective on Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. JPMorgan Chase & Co. decreased their target price on Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Finally, StockNews.com upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price 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.