Norinchukin Bank The boosted its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 1.7% in the first quarter, Holdings Channel reports. The institutional investor owned 18,395 shares of the basic materials company’s stock after purchasing an additional 306 shares during the period. Norinchukin Bank The’s holdings in Air Products and Chemicals were worth $5,175,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Grant Street Asset Management Inc. bought a new stake in shares of Air Products and Chemicals in the 4th quarter worth $28,000. Northwest Investment Counselors LLC bought a new stake in shares of Air Products and Chemicals in the 1st quarter worth $28,000. Childress Capital Advisors LLC bought a new stake in shares of Air Products and Chemicals in the 4th quarter worth $37,000. Arkadios Wealth Advisors increased its holdings in shares of Air Products and Chemicals by 217.4% in the 4th quarter. Arkadios Wealth Advisors now owns 146 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Finally, Tobam bought a new stake in shares of Air Products and Chemicals in the 1st quarter worth $39,000. 82.01% of the stock is owned by institutional investors.
APD has been the subject of several research analyst reports. Barclays reaffirmed an “equal weight” rating and issued a $310.00 price objective (up previously from $295.00) on shares of Air Products and Chemicals in a report on Thursday, May 13th. Cowen lifted their target price on Air Products and Chemicals from $340.00 to $360.00 and gave the company an “outperform” rating in a research report on Tuesday, May 11th. Wells Fargo & Company lifted their target price on Air Products and Chemicals from $320.00 to $335.00 and gave the company an “overweight” rating in a research report on Tuesday, May 11th. Susquehanna upgraded Air Products and Chemicals from a “neutral” rating to a “positive” rating and boosted their price objective for the company from $240.00 to $350.00 in a research report on Friday. Finally, Morgan Stanley boosted their price objective on Air Products and Chemicals from $300.00 to $335.00 and gave the company an “overweight” rating in a research report on Wednesday, May 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $313.50.
Air Products and Chemicals (NYSE:APD) last released its earnings results on Sunday, May 9th. The basic materials company reported $2.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.12 by ($0.04). Air Products and Chemicals had a return on equity of 14.75% and a net margin of 20.39%. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period last year, the business earned $2.04 earnings per share. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, equities analysts anticipate that Air Products and Chemicals, Inc. will post 9.1 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 9th. Shareholders of record on Thursday, July 1st will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Wednesday, June 30th. Air Products and Chemicals’s dividend payout ratio (DPR) is 71.60%.
Air Products and Chemicals Profile
Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, manufacturing, food and beverage, electronics, magnetic resonance imaging, energy production and refining, and metals.
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