Opal Wealth Advisors LLC Takes Position in Air Products and Chemicals, Inc. (NYSE:APD)

Opal Wealth Advisors LLC bought a new stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 530 shares of the basic materials company’s stock, valued at approximately $156,000.

Other large investors have also recently modified their holdings of the company. Farmers & Merchants Investments Inc. raised its position in shares of Air Products and Chemicals by 1.3% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 72,925 shares of the basic materials company’s stock worth $21,507,000 after purchasing an additional 907 shares during the last quarter. Ipswich Investment Management Co. Inc. raised its position in shares of Air Products and Chemicals by 3.4% in the 1st quarter. Ipswich Investment Management Co. Inc. now owns 3,615 shares of the basic materials company’s stock worth $1,066,000 after purchasing an additional 120 shares during the last quarter. West Branch Capital LLC raised its position in shares of Air Products and Chemicals by 10.2% in the 1st quarter. West Branch Capital LLC now owns 421 shares of the basic materials company’s stock worth $124,000 after purchasing an additional 39 shares during the last quarter. Everhart Financial Group Inc. raised its position in shares of Air Products and Chemicals by 6.7% in the 1st quarter. Everhart Financial Group Inc. now owns 1,280 shares of the basic materials company’s stock worth $377,000 after purchasing an additional 80 shares during the last quarter. Finally, Bar Harbor Wealth Management raised its position in shares of Air Products and Chemicals by 5.6% in the 1st quarter. Bar Harbor Wealth Management now owns 9,533 shares of the basic materials company’s stock worth $2,811,000 after purchasing an additional 509 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analysts Set New Price Targets

APD has been the subject of a number of recent analyst reports. Morgan Stanley initiated coverage on Air Products and Chemicals in a research report on Thursday, May 29th. They issued an “equal weight” rating and a $290.00 target price for the company. Royal Bank of Canada initiated coverage on Air Products and Chemicals in a research report on Friday. They issued an “outperform” rating and a $355.00 target price for the company. Wells Fargo & Company decreased their target price on Air Products and Chemicals from $365.00 to $320.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. UBS Group decreased their target price on Air Products and Chemicals from $335.00 to $324.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Finally, Bank of America lowered Air Products and Chemicals from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $330.00 to $282.00 in a research report on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Air Products and Chemicals currently has an average rating of “Moderate Buy” and an average price target of $332.41.

Air Products and Chemicals Price Performance

NYSE APD opened at $280.02 on Friday. Air Products and Chemicals, Inc. has a 52 week low of $243.69 and a 52 week high of $341.14. The firm has a market capitalization of $62.32 billion, a P/E ratio of 16.26, a PEG ratio of 3.07 and a beta of 0.86. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average price of $271.69 and a 200-day moving average price of $294.16.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Thursday, May 1st. The basic materials company reported $2.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.83 by ($0.14). The firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. The company’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.85 earnings per share. Equities research analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 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 11th. Investors of record on Tuesday, July 1st will be issued a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend is Tuesday, July 1st. Air Products and Chemicals’s dividend payout ratio is 104.07%.

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.