Envestnet Asset Management Inc. decreased its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 2.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,747 shares of the basic materials company’s stock after selling 1,469 shares during the period. Envestnet Asset Management Inc.’s holdings in Air Products and Chemicals were worth $7,136,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the stock. Ancora Advisors LLC acquired a new stake in Air Products and Chemicals during the fourth quarter worth approximately $103,000. iAB Financial Bank acquired a new stake in Air Products and Chemicals during the first quarter worth approximately $100,000. Westport Asset Management Inc. acquired a new stake in Air Products and Chemicals during the fourth quarter worth approximately $115,000. State of Alaska Department of Revenue acquired a new stake in Air Products and Chemicals during the first quarter worth approximately $109,000. Finally, Sowell Financial Services LLC acquired a new stake in Air Products and Chemicals during the fourth quarter worth approximately $117,000. 89.66% of the stock is currently owned by institutional investors.
Air Products and Chemicals, Inc. (NYSE APD) opened at 145.51 on Friday. The stock has a market capitalization of $31.68 billion, a PE ratio of 10.06 and a beta of 1.25. The stock has a 50 day moving average price of $144.32 and a 200 day moving average price of $142.24. Air Products and Chemicals, Inc. has a 52 week low of $122.64 and a 52 week high of $150.45.
Air Products and Chemicals (NYSE:APD) last announced its earnings results on Thursday, April 27th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.05. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Air Products and Chemicals had a return on equity of 19.26% and a net margin of 36.19%. The business’s revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.82 EPS. Equities analysts forecast that Air Products and Chemicals, Inc. will post $6.15 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, July 3rd will be given a $0.95 dividend. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.61%. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 26.28%.
A number of equities research analysts have commented on APD shares. Deutsche Bank AG upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and increased their price target for the company from $148.00 to $160.00 in a research note on Monday, May 1st. Zacks Investment Research upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $152.00 price target for the company in a research note on Tuesday, April 18th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $155.00 price target on shares of Air Products and Chemicals in a research note on Tuesday, May 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $153.71.
Air Products and Chemicals Company Profile
Air Products and Chemicals, Inc is an industrial gases company. The Company’s Industrial Gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. The Company operates through seven segments: Industrial Gases-Americas, Industrial Gases-Europe, Middle East, and Africa (EMEA), Industrial Gases-Asia, Industrial Gases-Global, Materials Technologies, Energy-from-Waste, and Corporate and other.
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