Matrix Asset Advisors Inc. NY acquired a new position in shares of Air Products and Chemicals, Inc. (NYSE:APD – Get Rating) during the 2nd quarter, HoldingsChannel reports. The firm acquired 49,241 shares of the basic materials company’s stock, valued at approximately $11,841,000. Air Products and Chemicals comprises 1.8% of Matrix Asset Advisors Inc. NY’s holdings, making the stock its 23rd largest position.
Several other large investors also recently made changes to their positions in APD. SJS Investment Consulting Inc. acquired a new stake in Air Products and Chemicals in the 1st quarter worth $30,000. Rise Advisors LLC increased its position in Air Products and Chemicals by 57.7% in the 1st quarter. Rise Advisors LLC now owns 123 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 45 shares in the last quarter. Rational Advisors LLC increased its position in Air Products and Chemicals by 68.6% in the 1st quarter. Rational Advisors LLC now owns 145 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 59 shares in the last quarter. Quent Capital LLC acquired a new stake in Air Products and Chemicals in the 4th quarter valued at about $40,000. Finally, FinTrust Capital Advisors LLC grew its position in shares of Air Products and Chemicals by 617.4% during the 1st quarter. FinTrust Capital Advisors LLC now owns 165 shares of the basic materials company’s stock worth $41,000 after buying an additional 142 shares during the period. Institutional investors and hedge funds own 82.68% of the company’s stock.
Analyst Upgrades and Downgrades
APD has been the subject of several analyst reports. Wells Fargo & Company lowered their price target on shares of Air Products and Chemicals from $255.00 to $243.00 and set an “equal weight” rating for the company in a research report on Monday, July 18th. Jefferies Financial Group decreased their price objective on shares of Air Products and Chemicals from $270.00 to $257.00 in a report on Thursday, June 16th. BMO Capital Markets upgraded shares of Air Products and Chemicals from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $283.00 to $321.00 in a report on Monday, August 15th. JPMorgan Chase & Co. boosted their price objective on shares of Air Products and Chemicals from $275.00 to $295.00 in a report on Friday, August 5th. Finally, Citigroup boosted their price objective on shares of Air Products and Chemicals to $272.00 in a report on Monday, August 15th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.56.
Air Products and Chemicals Stock Performance
Air Products and Chemicals (NYSE:APD – Get Rating) last issued its earnings results on Thursday, August 4th. The basic materials company reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.61 by $0.01. The firm had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.02 billion. Air Products and Chemicals had a return on equity of 15.61% and a net margin of 19.08%. The company’s revenue was up 22.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.31 earnings per share. On average, analysts expect that Air Products and Chemicals, Inc. will post 10.29 earnings per share for the current year.
Air Products and Chemicals Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Monday, October 3rd will be given a dividend of $1.62 per share. The ex-dividend date is Friday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 2.75%. Air Products and Chemicals’s dividend payout ratio is currently 63.16%.
Air Products and 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, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas; 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, manufacturing, food and beverage, electronics, magnetic resonance imaging, energy production and refining, and metals.
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