Xponance Inc. Purchases 2,137 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Xponance Inc. boosted its position in Air Products and Chemicals, Inc. (NYSE:APD) by 7.6% in the 4th quarter, Holdings Channel reports. The firm owned 30,092 shares of the basic materials company’s stock after buying an additional 2,137 shares during the quarter. Xponance Inc.’s holdings in Air Products and Chemicals were worth $8,239,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in APD. Cape Cod Five Cents Savings Bank bought a new stake in shares of Air Products and Chemicals during the third quarter valued at approximately $376,000. BKM Wealth Management LLC bought a new stake in shares of Air Products and Chemicals during the fourth quarter valued at approximately $1,177,000. Bellwether Advisors LLC bought a new stake in shares of Air Products and Chemicals during the third quarter valued at approximately $501,000. Zenyatta Capital Management LP raised its stake in shares of Air Products and Chemicals by 46.7% during the fourth quarter. Zenyatta Capital Management LP now owns 22,000 shares of the basic materials company’s stock valued at $6,024,000 after acquiring an additional 7,000 shares in the last quarter. Finally, Bristol John W & Co. Inc. NY raised its stake in shares of Air Products and Chemicals by 37.6% during the fourth quarter. Bristol John W & Co. Inc. NY now owns 388,474 shares of the basic materials company’s stock valued at $106,364,000 after acquiring an additional 106,054 shares in the last quarter. Institutional investors own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on APD. TD Cowen decreased their price target on shares of Air Products and Chemicals from $345.00 to $305.00 and set an “outperform” rating for the company in a research note on Friday, February 16th. Morgan Stanley cut their price objective on shares of Air Products and Chemicals from $285.00 to $240.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 7th. BMO Capital Markets cut their price objective on shares of Air Products and Chemicals from $307.00 to $250.00 and set an “outperform” rating on the stock in a report on Tuesday, February 6th. Bank of America raised shares of Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $264.00 price objective on the stock in a report on Thursday, February 15th. Finally, StockNews.com lowered shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Sunday, April 14th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $276.36.

Air Products and Chemicals Price Performance

NYSE APD opened at $231.67 on Friday. The firm’s fifty day simple moving average is $235.88 and its two-hundred day simple moving average is $257.47. The company has a current ratio of 1.81, a quick ratio of 1.58 and a debt-to-equity ratio of 0.74. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $307.71. The firm has a market capitalization of $51.50 billion, a P/E ratio of 22.11, a P/E/G ratio of 2.52 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data on Monday, February 5th. The basic materials company reported $2.82 earnings per share for the quarter, missing analysts’ consensus estimates of $3.00 by ($0.18). The company had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.20 billion. Air Products and Chemicals had a net margin of 18.82% and a return on equity of 16.84%. Air Products and Chemicals’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period last year, the firm earned $2.64 earnings per share. Analysts forecast that Air Products and Chemicals, Inc. will post 12.38 EPS for the current fiscal year.

Air Products and Chemicals Increases Dividend

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 $1.77 per share. The ex-dividend date is Thursday, March 28th. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.75. This represents a $7.08 dividend on an annualized basis and a dividend yield of 3.06%. Air Products and Chemicals’s payout ratio is 67.56%.

About Air Products and Chemicals

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.