HBK Sorce Advisory LLC Has $1.26 Million Stake in Air Products and Chemicals, Inc. (NYSE:APD)

HBK Sorce Advisory LLC increased its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 245.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,202 shares of the basic materials company’s stock after buying an additional 3,696 shares during the period. HBK Sorce Advisory LLC’s holdings in Air Products and Chemicals were worth $1,260,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gateway Investment Advisers LLC grew its stake in shares of Air Products and Chemicals by 11.7% during the fourth quarter. Gateway Investment Advisers LLC now owns 4,333 shares of the basic materials company’s stock worth $1,186,000 after purchasing an additional 453 shares during the period. Cornerstone Wealth Management LLC increased its stake in shares of Air Products and Chemicals by 9.0% in the 4th quarter. Cornerstone Wealth Management LLC now owns 2,090 shares of the basic materials company’s stock valued at $572,000 after acquiring an additional 173 shares during the last quarter. Marcum Wealth LLC raised its position in shares of Air Products and Chemicals by 4.9% in the 4th quarter. Marcum Wealth LLC now owns 1,125 shares of the basic materials company’s stock valued at $308,000 after acquiring an additional 53 shares during the period. Creative Financial Designs Inc. ADV boosted its stake in Air Products and Chemicals by 1.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,636 shares of the basic materials company’s stock worth $996,000 after acquiring an additional 38 shares during the last quarter. Finally, Bruce G. Allen Investments LLC bought a new position in Air Products and Chemicals during the 4th quarter worth approximately $100,000. 81.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

APD has been the topic of a number of recent analyst reports. UBS Group lifted their price target on shares of Air Products and Chemicals from $257.00 to $268.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. Mizuho lowered their price target on Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. StockNews.com upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Saturday, June 29th. TD Cowen increased their target price on Air Products and Chemicals from $305.00 to $320.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, Morgan Stanley lifted 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 note on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, Air Products and Chemicals currently has a consensus rating of “Hold” and an average price target of $291.43.

Air Products and Chemicals Stock Performance

Shares of APD traded down $3.68 during mid-day trading on Friday, reaching $262.91. The company’s stock had a trading volume of 754,647 shares, compared to its average volume of 1,732,670. The company has a current ratio of 1.49, a quick ratio of 1.31 and a debt-to-equity ratio of 0.77. The stock has a market cap of $58.45 billion, a P/E ratio of 23.83, a PEG ratio of 2.99 and a beta of 0.81. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $307.71. The business has a 50-day simple moving average of $264.47 and a two-hundred day simple moving average of $250.54.

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 analysts’ consensus estimates of $2.70 by $0.15. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.74 earnings per share. As a group, equities research analysts anticipate that Air Products and Chemicals, Inc. will post 12.28 earnings per share for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, October 1st will be given a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Tuesday, October 1st. Air Products and Chemicals’s payout ratio is 63.90%.

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.