Air Products and Chemicals, Inc. (NYSE:APD) Stock Position Raised by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 55.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,335 shares of the basic materials company’s stock after buying an additional 477 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Air Products and Chemicals were worth $366,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Cape Cod Five Cents Savings Bank bought a new position in Air Products and Chemicals during the 3rd quarter worth $376,000. BKM Wealth Management LLC acquired a new position in shares of Air Products and Chemicals during the fourth quarter valued at $1,177,000. Bellwether Advisors LLC bought a new position in shares of Air Products and Chemicals during the third quarter worth about $501,000. Zenyatta Capital Management LP increased its holdings in shares of Air Products and Chemicals by 46.7% in the 4th quarter. Zenyatta Capital Management LP now owns 22,000 shares of the basic materials company’s stock worth $6,024,000 after acquiring an additional 7,000 shares during the period. Finally, Bristol John W & Co. Inc. NY boosted its stake in Air Products and Chemicals by 37.6% during the 4th quarter. Bristol John W & Co. Inc. NY now owns 388,474 shares of the basic materials company’s stock valued at $106,364,000 after purchasing an additional 106,054 shares during the period. Institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on APD shares. Barclays cut their price target on Air Products and Chemicals from $260.00 to $245.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 6th. UBS Group downgraded Air Products and Chemicals from a “buy” rating to a “neutral” rating and cut their target price for the company from $328.00 to $241.00 in a research note on Thursday, February 8th. Citigroup increased their price target on Air Products and Chemicals from $260.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Morgan Stanley cut their price objective on shares of Air Products and Chemicals from $285.00 to $240.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 7th. Finally, Wells Fargo & Company cut shares of Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a research note on Monday, February 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $276.36.

Air Products and Chemicals Trading Down 0.6 %

Shares of NYSE APD opened at $231.64 on Monday. The business has a fifty day simple moving average of $235.88 and a 200-day simple moving average of $257.11. The company has a market cap of $51.49 billion, a price-to-earnings ratio of 22.10, a P/E/G ratio of 2.55 and a beta of 0.81. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $307.71. The company has a quick ratio of 1.58, a current ratio of 1.81 and a debt-to-equity ratio of 0.74.

Air Products and Chemicals (NYSE:APD) last announced its earnings results on Monday, February 5th. The basic materials company reported $2.82 EPS for the quarter, missing the consensus estimate of $3.00 by ($0.18). Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same quarter in the previous year, the business earned $2.64 earnings per share. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. Sell-side analysts predict that Air Products and Chemicals, Inc. will post 12.38 EPS for the current year.

Air Products and Chemicals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, April 1st will be paid a dividend of $1.77 per share. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.75. This represents a $7.08 annualized dividend and a yield of 3.06%. The ex-dividend date is Thursday, March 28th. Air Products and Chemicals’s payout ratio is 67.56%.

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; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.