Cetera Advisor Networks LLC grew its stake in Air Products and Chemicals, Inc. (NYSE:APD – Free Report) by 6.8% in the second quarter, HoldingsChannel reports. The fund owned 80,009 shares of the basic materials company’s stock after acquiring an additional 5,126 shares during the period. Cetera Advisor Networks LLC’s holdings in Air Products and Chemicals were worth $23,965,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Air Products and Chemicals by 90,916.9% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 24,671,052 shares of the basic materials company’s stock valued at $7,389,720,000 after acquiring an additional 24,643,946 shares during the last quarter. BlackRock Inc. lifted its position in Air Products and Chemicals by 0.7% during the 1st quarter. BlackRock Inc. now owns 14,595,383 shares of the basic materials company’s stock valued at $4,191,940,000 after purchasing an additional 104,973 shares during the period. Bank of America Corp DE boosted its stake in shares of Air Products and Chemicals by 3.7% in the 1st quarter. Bank of America Corp DE now owns 6,654,402 shares of the basic materials company’s stock valued at $1,911,211,000 after purchasing an additional 239,381 shares during the last quarter. Morgan Stanley grew its position in shares of Air Products and Chemicals by 26.0% during the 4th quarter. Morgan Stanley now owns 5,414,008 shares of the basic materials company’s stock worth $1,668,923,000 after buying an additional 1,115,729 shares during the period. Finally, Norges Bank bought a new stake in shares of Air Products and Chemicals during the fourth quarter worth approximately $962,356,000. Institutional investors own 82.62% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have issued reports on APD shares. Citigroup raised their price objective on shares of Air Products and Chemicals from $328.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, October 4th. Wells Fargo & Company cut their price objective on Air Products and Chemicals from $345.00 to $320.00 and set an “overweight” rating on the stock in a report on Wednesday, November 8th. JPMorgan Chase & Co. lowered their target price on Air Products and Chemicals from $310.00 to $295.00 and set an “overweight” rating for the company in a research note on Wednesday, November 8th. Jefferies Financial Group lifted their price target on shares of Air Products and Chemicals from $300.00 to $310.00 and gave the company a “hold” rating in a research note on Tuesday, September 26th. Finally, StockNews.com initiated coverage on shares of Air Products and Chemicals in a research report on Thursday, October 5th. They set a “hold” rating for the company. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $327.00.
Air Products and Chemicals Stock Performance
Shares of APD opened at $273.49 on Thursday. The stock has a market capitalization of $60.76 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 1.81 and a beta of 0.86. Air Products and Chemicals, Inc. has a 12 month low of $251.63 and a 12 month high of $328.56. The firm has a fifty day simple moving average of $284.40 and a 200 day simple moving average of $286.98. The company has a current ratio of 1.33, a quick ratio of 1.17 and a debt-to-equity ratio of 0.60.
Air Products and Chemicals (NYSE:APD – Get Free Report) last posted its quarterly earnings data on Tuesday, November 7th. The basic materials company reported $3.15 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $0.04. The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.35 billion. Air Products and Chemicals had a net margin of 18.26% and a return on equity of 17.02%. The company’s quarterly revenue was down 10.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.89 EPS. Research analysts forecast that Air Products and Chemicals, Inc. will post 13 EPS for the current fiscal year.
Air Products and Chemicals Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 12th. Stockholders of record on Tuesday, January 2nd will be paid a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 2.56%. Air Products and Chemicals’s dividend payout ratio is currently 67.83%.
In other news, CEO Seifi Ghasemi acquired 11,000 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was bought at an average price of $264.42 per share, with a total value of $2,908,620.00. Following the transaction, the chief executive officer now directly owns 670,673 shares in the company, valued at approximately $177,339,354.66. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.40% of the stock is currently owned by insiders.
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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