Assetmark Inc. Grows Position in Air Products and Chemicals, Inc. (NYSE:APD)

Assetmark Inc. raised its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 5.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,692 shares of the basic materials company’s stock after purchasing an additional 1,815 shares during the quarter. Assetmark Inc.’s holdings in Air Products and Chemicals were worth $10,320,000 as of its most recent filing with the Securities & Exchange Commission.

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 in the fourth quarter worth about $27,000. Roble Belko & Company Inc purchased a new stake in shares of Air Products and Chemicals in the fourth quarter worth about $27,000. Sachetta LLC purchased a new stake in shares of Air Products and Chemicals in the fourth quarter worth about $27,000. Stuart Chaussee & Associates Inc. lifted its holdings in shares of Air Products and Chemicals by 257.6% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 118 shares of the basic materials company’s stock worth $32,000 after buying an additional 85 shares in the last quarter. Finally, Rakuten Securities Inc. purchased a new stake in shares of Air Products and Chemicals in the fourth quarter worth about $33,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Performance

Shares of APD stock opened at $264.69 on Thursday. The stock has a fifty day moving average of $242.18 and a 200 day moving average of $251.53. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $307.71. The firm has a market capitalization of $58.84 billion, a price-to-earnings ratio of 23.89, a PEG ratio of 2.87 and a beta of 0.80. The company has a quick ratio of 1.31, a current ratio of 1.49 and a debt-to-equity ratio of 0.77.

Air Products and Chemicals (NYSE:APD) last announced its quarterly 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 return on equity of 16.56% and a net margin of 20.32%. The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $3.05 billion. During the same quarter last year, the firm posted $2.74 earnings per share. The firm’s revenue was down 8.4% on a year-over-year basis. 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 declared a quarterly dividend, which will be paid on Monday, August 12th. Investors of record on Monday, July 1st will be paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Friday, June 28th. Air Products and Chemicals’s payout ratio is 63.90%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on APD. Barclays lowered their target price on shares of Air Products and Chemicals from $260.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 6th. Mizuho lowered their target price 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. Bank of America raised their target price on shares of Air Products and Chemicals from $272.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. TD Cowen raised their target price on shares of Air Products and Chemicals from $305.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, BMO Capital Markets increased their price target on shares of Air Products and Chemicals from $250.00 to $263.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $273.77.

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.