Securian Asset Management Inc raised its position in Air Products & Chemicals, Inc. (NYSE:APD) by 0.7% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 22,988 shares of the basic materials company’s stock after buying an additional 149 shares during the period. Securian Asset Management Inc’s holdings in Air Products & Chemicals were worth $4,390,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in APD. Farmers & Merchants Investments Inc. raised its stake in shares of Air Products & Chemicals by 1.2% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 62,375 shares of the basic materials company’s stock valued at $11,911,000 after purchasing an additional 738 shares during the period. FTB Advisors Inc. increased its position in shares of Air Products & Chemicals by 34.5% in the first quarter. FTB Advisors Inc. now owns 320 shares of the basic materials company’s stock valued at $60,000 after acquiring an additional 82 shares during the last quarter. Arrow Financial Corp increased its position in shares of Air Products & Chemicals by 800.0% in the first quarter. Arrow Financial Corp now owns 3,060 shares of the basic materials company’s stock valued at $585,000 after acquiring an additional 2,720 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in Air Products & Chemicals by 5.8% during the first quarter. Daiwa Securities Group Inc. now owns 9,952 shares of the basic materials company’s stock worth $1,901,000 after purchasing an additional 542 shares during the period. Finally, World Asset Management Inc grew its holdings in Air Products & Chemicals by 4.8% during the first quarter. World Asset Management Inc now owns 14,341 shares of the basic materials company’s stock worth $2,739,000 after purchasing an additional 654 shares during the period. Hedge funds and other institutional investors own 87.41% of the company’s stock.
NYSE APD traded down $0.72 on Wednesday, reaching $206.26. The company had a trading volume of 899,364 shares, compared to its average volume of 1,171,954. The company has a market capitalization of $46.21 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 2.17 and a beta of 0.83. Air Products & Chemicals, Inc. has a fifty-two week low of $148.44 and a fifty-two week high of $210.15. The company has a quick ratio of 2.16, a current ratio of 2.36 and a debt-to-equity ratio of 0.29.
Air Products & Chemicals (NYSE:APD) last posted its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $1.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.88 by $0.04. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.23 billion. Air Products & Chemicals had a return on equity of 15.28% and a net margin of 18.90%. Air Products & Chemicals’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.71 earnings per share. Research analysts expect that Air Products & Chemicals, Inc. will post 8.22 earnings per share for the current fiscal year.
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 given a dividend of $1.16 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.25%. Air Products & Chemicals’s dividend payout ratio (DPR) is presently 62.28%.
In other news, VP Russell A. Flugel sold 2,970 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $207.01, for a total transaction of $614,819.70. Following the transaction, the vice president now owns 6,387 shares of the company’s stock, valued at approximately $1,322,172.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.35% of the stock is owned by corporate insiders.
A number of equities analysts recently commented on APD shares. Zacks Investment Research upgraded Air Products & Chemicals from a “hold” rating to a “buy” rating and set a $177.00 price target for the company in a report on Thursday, January 24th. Credit Suisse Group boosted their price objective on Air Products & Chemicals from $188.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. BMO Capital Markets boosted their price objective on Air Products & Chemicals from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Tuesday, April 9th. KeyCorp boosted their price objective on Air Products & Chemicals from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Finally, Deutsche Bank boosted their price target on Air Products & Chemicals from $182.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $211.50.
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About Air Products & Chemicals
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, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.
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