Raymond James Trust N.A. grew its stake in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 5.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,781 shares of the basic materials company’s stock after acquiring an additional 1,350 shares during the quarter. Raymond James Trust N.A.’s holdings in Air Products & Chemicals were worth $4,127,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Legacy Financial Advisors Inc. increased its position in Air Products & Chemicals by 109.0% in the fourth quarter. Legacy Financial Advisors Inc. now owns 255 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 133 shares during the last quarter. Mackey Komara & Dankovich LLC bought a new stake in Air Products & Chemicals in the fourth quarter worth $80,000. Honkamp Krueger Financial Services Inc. bought a new stake in Air Products & Chemicals in the third quarter worth $116,000. Cornerstone Advisors Inc. boosted its stake in Air Products & Chemicals by 9.9% during the fourth quarter. Cornerstone Advisors Inc. now owns 752 shares of the basic materials company’s stock worth $120,000 after buying an additional 68 shares during the period. Finally, Ipswich Investment Management Co. Inc. purchased a new position in Air Products & Chemicals during the fourth quarter worth $130,000. 87.88% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have commented on APD. Citigroup dropped their price objective on shares of Air Products & Chemicals from $200.00 to $181.00 and set a “buy” rating for the company in a research note on Tuesday, November 13th. ValuEngine raised shares of Air Products & Chemicals from a “hold” rating to a “buy” rating in a research note on Friday, November 16th. Zacks Investment Research raised shares of Air Products & Chemicals from a “hold” rating to a “buy” rating and set a $179.00 target price for the company in a research note on Tuesday, January 8th. Finally, BMO Capital Markets set a $200.00 target price on shares of Air Products & Chemicals and gave the company a “buy” rating in a research note on Thursday, November 8th. One research analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company’s stock. Air Products & Chemicals has a consensus rating of “Buy” and an average target price of $188.33.
Air Products & Chemicals (NYSE:APD) last issued its quarterly earnings results on Friday, January 25th. The basic materials company reported $1.86 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.87 by ($0.01). Air Products & Chemicals had a return on equity of 15.13% and a net margin of 18.92%. The business had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same quarter last year, the company posted $1.79 EPS. Air Products & Chemicals’s quarterly revenue was up .3% compared to the same quarter last year. On average, sell-side analysts anticipate that Air Products & Chemicals, Inc. will post 8.18 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, April 1st will be given a dividend of $1.16 per share. This is a positive change from Air Products & Chemicals’s previous quarterly dividend of $1.10. The ex-dividend date is Friday, March 29th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.70%. Air Products & Chemicals’s dividend payout ratio (DPR) is 59.06%.
About Air Products & Chemicals
Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and 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, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.
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