Socorro Asset Management LP Boosts Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Socorro Asset Management LP grew its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 11.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,552 shares of the basic materials company’s stock after purchasing an additional 2,173 shares during the quarter. Air Products and Chemicals makes up about 2.7% of Socorro Asset Management LP’s portfolio, making the stock its 26th biggest holding. Socorro Asset Management LP’s holdings in Air Products and Chemicals were worth $6,190,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Cibc World Market Inc. increased its holdings in Air Products and Chemicals by 6.9% in the 1st quarter. Cibc World Market Inc. now owns 1,180 shares of the basic materials company’s stock worth $295,000 after acquiring an additional 76 shares in the last quarter. Prudential PLC purchased a new stake in Air Products and Chemicals in the 1st quarter worth $1,010,000. Cetera Investment Advisers increased its holdings in Air Products and Chemicals by 22.3% in the 1st quarter. Cetera Investment Advisers now owns 5,890 shares of the basic materials company’s stock worth $1,472,000 after acquiring an additional 1,075 shares in the last quarter. Baird Financial Group Inc. increased its holdings in Air Products and Chemicals by 4.4% in the 1st quarter. Baird Financial Group Inc. now owns 105,875 shares of the basic materials company’s stock worth $26,459,000 after acquiring an additional 4,470 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Air Products and Chemicals by 17.1% during the first quarter. Parkside Financial Bank & Trust now owns 755 shares of the basic materials company’s stock worth $188,000 after buying an additional 110 shares in the last quarter. 82.62% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Up 0.2 %

APD stock traded up $0.70 during midday trading on Tuesday, reaching $303.50. 262,144 shares of the company were exchanged, compared to its average volume of 910,682. 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, Inc. has a 1-year low of $224.75 and a 1-year high of $328.56. The stock’s 50-day simple moving average is $293.28 and its 200 day simple moving average is $287.23. The company has a market cap of $67.42 billion, a price-to-earnings ratio of 30.80, a price-to-earnings-growth ratio of 2.57 and a beta of 0.87.

Air Products and Chemicals (NYSE:APD) last announced its earnings results on Thursday, August 3rd. The basic materials company reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.91 by $0.07. Air Products and Chemicals had a net margin of 16.88% and a return on equity of 17.18%. The business had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.29 billion. During the same period in the previous year, the company posted $2.62 EPS. The company’s quarterly revenue was down 4.9% on a year-over-year basis. On average, equities analysts forecast that Air Products and Chemicals, Inc. will post 11.47 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Monday, October 2nd will be paid a $1.75 dividend. This represents a $7.00 annualized dividend and a yield of 2.31%. The ex-dividend date is Friday, September 29th. Air Products and Chemicals’s payout ratio is 71.21%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of Air Products and Chemicals in a report on Thursday, August 17th. They set a “hold” rating for the company. Citigroup began 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 price target on the stock. Finally, Mizuho boosted their price target 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. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $318.93.

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.