Tremblant Capital Group lifted its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD – Free Report) by 7.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,206 shares of the basic materials company’s stock after buying an additional 6,232 shares during the period. Air Products and Chemicals makes up approximately 2.6% of Tremblant Capital Group’s investment portfolio, making the stock its 21st biggest holding. Tremblant Capital Group’s holdings in Air Products and Chemicals were worth $24,472,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Delta Asset Management LLC TN acquired a new stake in shares of Air Products and Chemicals during the fourth quarter worth $28,000. Grey Fox Wealth Advisors LLC acquired a new position in Air Products and Chemicals during the fourth quarter valued at $30,000. Sageworth Trust Co acquired a new position in Air Products and Chemicals during the first quarter valued at $30,000. Trifecta Capital Advisors LLC lifted its position in 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 Air Products and Chemicals during the first quarter valued at $32,000. 82.62% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
APD has been the subject of a number of research reports. StockNews.com initiated coverage on shares of Air Products and Chemicals in a research report on Thursday, August 17th. They set a “hold” rating for the company. Mizuho boosted their target price on shares of Air Products and Chemicals from $322.00 to $330.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Finally, Citigroup initiated coverage on shares of Air Products and Chemicals in a research report on Tuesday, June 13th. They set a “buy” rating and a $317.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $318.93.
Air Products and Chemicals Trading Up 2.2 %
Shares of Air Products and Chemicals stock opened at $298.51 on Friday. The firm has a 50-day simple moving average of $293.17 and a two-hundred day simple moving average of $287.00. The company has a market cap of $66.31 billion, a P/E ratio of 30.37, a price-to-earnings-growth ratio of 2.57 and a beta of 0.87. Air Products and Chemicals, Inc. has a fifty-two week low of $224.75 and a fifty-two week high of $328.56. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.36.
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, topping analysts’ consensus estimates of $2.91 by $0.07. The business had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.29 billion. Air Products and Chemicals had a net margin of 16.88% and a return on equity of 17.18%. The company’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.62 earnings per share. As a group, equities analysts predict that Air Products and Chemicals, Inc. will post 11.47 earnings per share for the current fiscal year.
Air Products and Chemicals Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Stockholders of record on Monday, October 2nd will be paid a dividend of $1.75 per share. The ex-dividend date is Friday, September 29th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 2.34%. Air Products and Chemicals’s dividend payout ratio is currently 71.21%.
About Air Products and Chemicals
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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