Air Products and Chemicals, Inc. (NYSE:APD) Position Boosted by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC raised its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 72.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,428 shares of the basic materials company’s stock after acquiring an additional 602 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Air Products and Chemicals were worth $346,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Covington Investment Advisors Inc. grew its stake in shares of Air Products and Chemicals by 9.7% in the 1st quarter. Covington Investment Advisors Inc. now owns 45,031 shares of the basic materials company’s stock valued at $10,910,000 after buying an additional 3,980 shares in the last quarter. Fayez Sarofim & Co grew its stake in shares of Air Products and Chemicals by 0.6% in the 1st quarter. Fayez Sarofim & Co now owns 1,173,581 shares of the basic materials company’s stock valued at $284,323,000 after buying an additional 7,332 shares in the last quarter. LGT Group Foundation grew its stake in shares of Air Products and Chemicals by 397.6% in the 1st quarter. LGT Group Foundation now owns 3,871 shares of the basic materials company’s stock valued at $938,000 after buying an additional 3,093 shares in the last quarter. Mattern Capital Management LLC grew its stake in shares of Air Products and Chemicals by 22.4% in the 1st quarter. Mattern Capital Management LLC now owns 32,908 shares of the basic materials company’s stock valued at $7,973,000 after buying an additional 6,025 shares in the last quarter. Finally, Crewe Advisors LLC bought a new stake in shares of Air Products and Chemicals in the 1st quarter valued at approximately $88,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Price Performance

Air Products and Chemicals stock traded up $2.34 during mid-day trading on Friday, hitting $260.98. 1,042,927 shares of the company were exchanged, compared to its average volume of 1,659,557. 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 has a fifty day moving average of $265.00 and a 200 day moving average of $249.96. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $307.71. The company has a market capitalization of $58.02 billion, a PE ratio of 23.56, a price-to-earnings-growth ratio of 2.86 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD) last announced its earnings results 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 company had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $3.05 billion. Air Products and Chemicals had a return on equity of 16.56% and a net margin of 20.32%. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.74 earnings per share. As a group, sell-side analysts expect that Air Products and Chemicals, Inc. will post 12.26 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, October 1st will be issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Tuesday, October 1st. Air Products and Chemicals’s payout ratio is presently 63.90%.

Analyst Ratings Changes

APD has been the subject of a number of recent analyst reports. StockNews.com cut Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Tuesday. UBS Group upped their price target on Air Products and Chemicals from $257.00 to $268.00 and gave the stock a “neutral” rating in a report on Tuesday, July 9th. TD Cowen upped their price target on Air Products and Chemicals from $305.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Mizuho cut 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. Finally, Citigroup upped their target price on Air Products and Chemicals from $280.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $289.29.

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.