Prudential PLC increased its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD – Free Report) by 24.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,868 shares of the basic materials company’s stock after purchasing an additional 1,347 shares during the period. Prudential PLC’s holdings in Air Products and Chemicals were worth $1,973,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in APD. Delta Asset Management LLC TN purchased a new stake in shares of Air Products and Chemicals in the fourth quarter worth about $28,000. Grey Fox Wealth Advisors LLC purchased a new position in Air Products and Chemicals in the 4th quarter worth approximately $30,000. Sageworth Trust Co acquired a new stake in Air Products and Chemicals in the first quarter valued at approximately $30,000. Trifecta Capital Advisors LLC raised its stake in shares of Air Products and Chemicals by 1,250.0% during the first quarter. Trifecta Capital Advisors LLC now owns 108 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 100 shares during the period. Finally, NewSquare Capital LLC acquired a new position in shares of Air Products and Chemicals during the first quarter worth $32,000. 82.62% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
APD has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Air Products and Chemicals from $340.00 to $325.00 in a research note on Friday, May 12th. StockNews.com began coverage on Air Products and Chemicals in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Mizuho raised their price objective on Air Products and Chemicals from $322.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Finally, Citigroup started coverage on Air Products and Chemicals in a research report on Tuesday, June 13th. They issued a “buy” rating and a $317.00 target price on the stock. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $318.93.
Air Products and Chemicals Stock Performance
Air Products and Chemicals stock opened at $298.02 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.36 and a quick ratio of 1.19. Air Products and Chemicals, Inc. has a 12 month low of $224.75 and a 12 month high of $328.56. The company has a fifty day moving average price of $292.94 and a two-hundred day moving average price of $286.51. The company has a market cap of $66.21 billion, a PE ratio of 30.32, a P/E/G ratio of 2.62 and a beta of 0.87.
Air Products and Chemicals (NYSE:APD – Get Free Report) last released its earnings results on Thursday, August 3rd. The basic materials company reported $2.98 EPS for the quarter, beating the consensus estimate of $2.91 by $0.07. The business had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.29 billion. Air Products and Chemicals had a net margin of 16.88% and a return on equity of 17.18%. The business’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.62 earnings per share. Research analysts expect that Air Products and Chemicals, Inc. will post 11.47 earnings per share for the current year.
Air Products and Chemicals Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Monday, October 2nd will be issued a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Friday, September 29th. Air Products and Chemicals’s payout ratio is 71.21%.
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; 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, manufacturing, electronics, magnetic resonance imaging, energy production, medical, food, and metals.
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