Intech Investment Management LLC Has $30 Million Position in Air Products and Chemicals, Inc. (NYSE:APD)

Intech Investment Management LLC raised its position in Air Products and Chemicals, Inc. (NYSE:APD) by 25.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 109,556 shares of the basic materials company’s stock after purchasing an additional 22,290 shares during the quarter. Intech Investment Management LLC’s holdings in Air Products and Chemicals were worth $29,996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in APD. Founders Financial Alliance LLC raised its position in shares of Air Products and Chemicals by 12.7% in the fourth quarter. Founders Financial Alliance LLC now owns 1,208 shares of the basic materials company’s stock valued at $331,000 after purchasing an additional 136 shares during the period. Nomura Asset Management Co. Ltd. raised its position in shares of Air Products and Chemicals by 11.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 247,768 shares of the basic materials company’s stock valued at $67,839,000 after purchasing an additional 25,753 shares during the period. Nixon Peabody Trust Co. raised its position in shares of Air Products and Chemicals by 277.1% in the fourth quarter. Nixon Peabody Trust Co. now owns 5,050 shares of the basic materials company’s stock valued at $1,383,000 after purchasing an additional 3,711 shares during the period. Skopos Labs Inc. bought a new position in shares of Air Products and Chemicals in the fourth quarter valued at about $394,000. Finally, Congress Wealth Management LLC DE raised its position in shares of Air Products and Chemicals by 98.1% in the fourth quarter. Congress Wealth Management LLC DE now owns 7,826 shares of the basic materials company’s stock valued at $2,143,000 after purchasing an additional 3,876 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Seaport Res Ptn lowered shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 6th. BMO Capital Markets raised their price target on shares of Air Products and Chemicals from $250.00 to $263.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Wells Fargo & Company lowered shares of Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a report on Monday, February 5th. Barclays decreased 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 report on Tuesday, February 6th. Finally, 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 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 assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $273.77.

Air Products and Chemicals Price Performance

Shares of APD traded up $1.61 during mid-day trading on Friday, reaching $264.61. The company had a trading volume of 1,070,639 shares, compared to its average volume of 1,712,160. The company’s 50 day simple moving average is $242.93 and its 200 day simple moving average is $251.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.31 and a current ratio of 1.49. 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 $58.83 billion, a price-to-earnings ratio of 23.88, a P/E/G ratio of 2.87 and a beta of 0.80.

Air Products and Chemicals (NYSE:APD) last posted 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. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same period last year, the company earned $2.74 EPS. The firm’s revenue was down 8.4% compared to the same quarter last year. Analysts expect that Air Products and Chemicals, Inc. will post 12.3 EPS for the current year.

Air Products and Chemicals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 12th. Stockholders of record on Monday, July 1st will be paid a $1.77 dividend. The ex-dividend date is Friday, June 28th. This represents a $7.08 annualized dividend and a dividend yield of 2.68%. Air Products and Chemicals’s dividend payout ratio is currently 63.90%.

Air Products and Chemicals Company 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.