Griffin Asset Management Inc. Raises Stake in Air Products & Chemicals, Inc. (APD)

Griffin Asset Management Inc. lifted its stake in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 11.1% in the 1st quarter, HoldingsChannel reports. The fund owned 2,253 shares of the basic materials company’s stock after acquiring an additional 225 shares during the quarter. Griffin Asset Management Inc.’s holdings in Air Products & Chemicals were worth $430,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Field & Main Bank bought a new stake in shares of Air Products & Chemicals during the first quarter worth $27,000. Athena Capital Advisors LLC bought a new stake in shares of Air Products & Chemicals during the fourth quarter worth $28,000. Old North State Trust LLC increased its position in shares of Air Products & Chemicals by 376.1% during the fourth quarter. Old North State Trust LLC now owns 219 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 173 shares in the last quarter. Pinnacle Bank bought a new stake in shares of Air Products & Chemicals during the fourth quarter worth $38,000. Finally, Transamerica Financial Advisors Inc. grew its position in Air Products & Chemicals by 617.6% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 244 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 210 shares in the last quarter. 87.41% of the stock is owned by institutional investors.

A number of research analysts recently weighed in on APD shares. UBS Group raised their target price on shares of Air Products & Chemicals from $215.00 to $224.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Bank of America raised shares of Air Products & Chemicals from an “underperform” rating to a “neutral” rating and raised their target price for the company from $170.00 to $215.00 in a research report on Thursday, April 25th. Credit Suisse Group raised their target price on shares of Air Products & Chemicals from $200.00 to $222.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. BMO Capital Markets raised their target price 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, Barclays raised their target price on shares of Air Products & Chemicals from $184.00 to $220.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company. Air Products & Chemicals has an average rating of “Buy” and an average price target of $211.50.

Air Products & Chemicals stock opened at $206.98 on Wednesday. The firm has a market capitalization of $46.21 billion, a P/E ratio of 27.78, a price-to-earnings-growth ratio of 2.17 and a beta of 0.83. Air Products & Chemicals, Inc. has a 1-year low of $148.44 and a 1-year high of $210.15. The company has a quick ratio of 2.16, a current ratio of 2.36 and a debt-to-equity ratio of 0.29.

Air Products & Chemicals (NYSE:APD) last announced its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.04. Air Products & Chemicals had a net margin of 18.90% and a return on equity of 15.28%. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter last year, the firm posted $1.71 EPS. The company’s quarterly revenue was up 1.5% on a year-over-year basis. On average, research analysts anticipate that Air Products & Chemicals, Inc. will post 8.22 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 12th. Stockholders of record on Monday, July 1st will be given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date is Friday, June 28th. Air Products & Chemicals’s dividend payout ratio (DPR) is presently 62.28%.

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

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