Optimum Investment Advisors reduced its stake in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 9.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,745 shares of the basic materials company’s stock after selling 180 shares during the period. Optimum Investment Advisors’ holdings in Air Products & Chemicals were worth $279,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently bought and sold shares of APD. Capital International Investors purchased a new position in shares of Air Products & Chemicals during the 3rd quarter valued at about $342,085,000. FMR LLC lifted its holdings in Air Products & Chemicals by 52.8% in the 2nd quarter. FMR LLC now owns 4,457,144 shares of the basic materials company’s stock worth $694,111,000 after purchasing an additional 1,540,875 shares in the last quarter. Deutsche Bank AG lifted its holdings in Air Products & Chemicals by 95.3% in the 3rd quarter. Deutsche Bank AG now owns 813,574 shares of the basic materials company’s stock worth $135,901,000 after purchasing an additional 397,029 shares in the last quarter. Ceredex Value Advisors LLC lifted its holdings in Air Products & Chemicals by 37.9% in the 3rd quarter. Ceredex Value Advisors LLC now owns 1,071,635 shares of the basic materials company’s stock worth $180,183,000 after purchasing an additional 294,248 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Air Products & Chemicals by 46.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 831,757 shares of the basic materials company’s stock worth $138,960,000 after purchasing an additional 265,656 shares in the last quarter. 87.88% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently commented on APD shares. Zacks Investment Research raised Air Products & Chemicals from a “hold” rating to a “buy” rating and set a $179.00 price target on the stock in a report on Tuesday, January 8th. ValuEngine cut Air Products & Chemicals from a “buy” rating to a “hold” rating in a report on Monday, October 22nd. Bank of America cut Air Products & Chemicals from a “neutral” rating to an “underperform” rating and set a $170.00 price target on the stock. in a report on Tuesday, January 8th. They noted that the move was a valuation call. Finally, Citigroup lowered their price target on Air Products & Chemicals from $200.00 to $181.00 and set a “buy” rating on the stock in a report on Tuesday, November 13th. One investment analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company. Air Products & Chemicals has a consensus rating of “Buy” and an average price target of $188.33.
Air Products & Chemicals (NYSE:APD) last issued its quarterly earnings data on Friday, January 25th. The basic materials company reported $1.86 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.87 by ($0.01). The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.27 billion. Air Products & Chemicals had a return on equity of 15.13% and a net margin of 18.92%. The firm’s revenue was up .3% on a year-over-year basis. During the same period last year, the company earned $1.79 earnings per share. As a group, equities analysts forecast that Air Products & Chemicals, Inc. will post 8.18 EPS for the current fiscal year.
The company 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. This represents a $4.64 annualized dividend and a dividend yield of 2.80%. This is a boost from Air Products & Chemicals’s previous quarterly dividend of $1.10. The ex-dividend date is Friday, March 29th. Air Products & Chemicals’s dividend payout ratio is 59.06%.
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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.
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