Air Products & Chemicals, Inc. (APD) Stake Boosted by First Allied Advisory Services Inc.

First Allied Advisory Services Inc. grew its holdings in Air Products & Chemicals, Inc. (NYSE:APD) by 3.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,226 shares of the basic materials company’s stock after purchasing an additional 84 shares during the period. First Allied Advisory Services Inc.’s holdings in Air Products & Chemicals were worth $429,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in the company. TIAA CREF Investment Management LLC increased its position in Air Products & Chemicals by 1.7% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 678,846 shares of the basic materials company’s stock worth $113,401,000 after purchasing an additional 11,632 shares in the last quarter. Morgan Stanley increased its position in Air Products & Chemicals by 22.0% during the 3rd quarter. Morgan Stanley now owns 854,110 shares of the basic materials company’s stock worth $142,680,000 after purchasing an additional 154,103 shares in the last quarter. Federated Investors Inc. PA increased its position in Air Products & Chemicals by 290.5% during the 3rd quarter. Federated Investors Inc. PA now owns 43,029 shares of the basic materials company’s stock worth $7,188,000 after purchasing an additional 32,011 shares in the last quarter. Vanguard Group Inc increased its position in Air Products & Chemicals by 1.3% during the 3rd 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 in the last quarter. Finally, Virtu Financial LLC acquired a new position in Air Products & Chemicals during the 4th quarter worth approximately $522,000. 87.12% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE APD opened at $206.26 on Thursday. 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, Inc. has a 52-week low of $148.44 and a 52-week high of $210.15. The company has a market capitalization of $45.56 billion, a price-to-earnings ratio of 26.78, a price-to-earnings-growth ratio of 2.14 and a beta of 0.83.

Air Products & Chemicals (NYSE:APD) last announced its quarterly earnings results on Wednesday, April 24th. The basic materials company reported $1.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.23 billion. During the same period in the prior year, the company posted $1.71 EPS. The company’s revenue was up 1.5% on a year-over-year basis. As a group, research analysts expect 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 paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Friday, June 28th. Air Products & Chemicals’s dividend payout ratio is currently 62.28%.

In other news, VP Russell A. Flugel sold 2,970 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $207.01, for a total value of $614,819.70. Following the sale, the vice president now directly owns 6,387 shares of the company’s stock, valued at approximately $1,322,172.87. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.35% of the company’s stock.

Several equities analysts have issued reports on the stock. KeyCorp upped their price target 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. JPMorgan Chase & Co. upped their price target on shares of Air Products & Chemicals from $167.00 to $207.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Bank of America upgraded shares of Air Products & Chemicals from an “underperform” rating to a “neutral” rating and upped their price target for the company from $170.00 to $215.00 in a research report on Thursday, April 25th. Deutsche Bank upped their price target on shares of Air Products & Chemicals from $182.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Finally, Credit Suisse Group upped their price target 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the stock. Air Products & Chemicals has an average rating of “Buy” and an average target price of $211.50.

ILLEGAL ACTIVITY WARNING: This piece was originally posted by Baseball Daily News and is the sole property of of Baseball Daily News. If you are reading this piece on another site, it was stolen and republished in violation of international trademark and copyright law. The original version of this piece can be viewed at https://www.baseballdailydigest.com/news/2019/05/23/air-products-chemicals-inc-apd-stake-boosted-by-first-allied-advisory-services-inc.html.

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.

Featured Article: Marijuana Stocks

Want to see what other hedge funds are holding APD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Air Products & Chemicals, Inc. (NYSE:APD).

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.