Air Products & Chemicals, Inc. (APD) Stake Lessened by Belpointe Asset Management LLC

Belpointe Asset Management LLC reduced its position in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 7.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,991 shares of the basic materials company’s stock after selling 599 shares during the quarter. Belpointe Asset Management LLC’s holdings in Air Products & Chemicals were worth $1,119,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in APD. Vanguard Group Inc. raised its position in shares of Air Products & Chemicals by 1.3% during the third quarter. Vanguard Group Inc. now owns 18,589,029 shares of the basic materials company’s stock valued at $3,105,298,000 after buying an additional 238,723 shares during the last quarter. Vanguard Group Inc increased its position in Air Products & Chemicals by 1.3% in the third quarter. Vanguard Group Inc now owns 18,589,029 shares of the basic materials company’s stock worth $3,105,298,000 after purchasing an additional 238,723 shares during the last quarter. BlackRock Inc. increased its position in Air Products & Chemicals by 1.9% in the fourth quarter. BlackRock Inc. now owns 17,129,190 shares of the basic materials company’s stock worth $2,741,528,000 after purchasing an additional 317,875 shares during the last quarter. Findlay Park Partners LLP increased its position in Air Products & Chemicals by 6.4% in the fourth quarter. Findlay Park Partners LLP now owns 3,284,423 shares of the basic materials company’s stock worth $525,672,000 after purchasing an additional 196,923 shares during the last quarter. Finally, Northern Trust Corp increased its position in Air Products & Chemicals by 3.2% in the fourth quarter. Northern Trust Corp now owns 3,239,618 shares of the basic materials company’s stock worth $518,501,000 after purchasing an additional 100,657 shares during the last quarter. Institutional investors and hedge funds own 87.52% of the company’s stock.

Air Products & Chemicals stock traded up $0.35 during trading hours on Friday, reaching $198.10. The stock had a trading volume of 1,322,938 shares, compared to its average volume of 1,072,779. The company has a market capitalization of $43.51 billion, a PE ratio of 26.59, a P/E/G ratio of 1.86 and a beta of 0.82. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.03 and a current ratio of 2.21. Air Products & Chemicals, Inc. has a 52 week low of $148.44 and a 52 week high of $198.66.

Air Products & Chemicals (NYSE:APD) last announced its earnings results on Friday, January 25th. The basic materials company reported $1.86 EPS for the quarter, missing the Zacks’ 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 firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the prior year, the firm posted $1.79 earnings per share. The business’s revenue for the quarter was up .3% compared to the same quarter last year. On average, equities analysts predict that Air Products & Chemicals, Inc. will post 8.18 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, April 1st will be issued a dividend of $1.16 per share. The ex-dividend date is Friday, March 29th. This represents a $4.64 annualized dividend and a dividend yield of 2.34%. This is an increase from Air Products & Chemicals’s previous quarterly dividend of $1.10. Air Products & Chemicals’s dividend payout ratio is 62.28%.

Several equities research analysts recently weighed in on APD shares. Zacks Investment Research upgraded shares of Air Products & Chemicals from a “hold” rating to a “buy” rating and set a $179.00 price target on the stock in a research report on Tuesday, January 8th. KeyCorp boosted their price objective on shares of Air Products & Chemicals from $195.00 to $220.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Credit Suisse Group boosted their price objective on shares of Air Products & Chemicals from $188.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. BMO Capital Markets boosted their price objective on shares of Air Products & Chemicals from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Tuesday, April 9th. Finally, Bank of America lowered shares of Air Products & Chemicals from a “neutral” rating to an “underperform” rating and set a $170.00 target price for the company. in a research note on Tuesday, January 8th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating and eleven have assigned a buy rating to the company. Air Products & Chemicals presently has a consensus rating of “Buy” and a consensus target price of $196.40.

ILLEGAL ACTIVITY WARNING: “Air Products & Chemicals, Inc. (APD) Stake Lessened by Belpointe Asset Management LLC” was originally published by Baseball Daily News and is the property of of Baseball Daily News. If you are accessing this report on another domain, it was illegally stolen and republished in violation of international copyright legislation. The correct version of this report can be read at https://www.baseballdailydigest.com/news/2019/04/21/belpointe-asset-management-llc-has-1-12-million-stake-in-air-products-chemicals-inc-apd.html.

Air Products & Chemicals Company Profile

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.

Further Reading: Why do companies pay special dividends?

Institutional Ownership by Quarter for Air Products & Chemicals (NYSE:APD)

Receive News & Ratings for Air Products & Chemicals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Air Products & Chemicals and related companies with MarketBeat.com's FREE daily email newsletter.