Ipswich Investment Management Co. Inc. Boosts Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Ipswich Investment Management Co. Inc. increased its position in Air Products and Chemicals, Inc. (NYSE:APD) by 3.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 3,615 shares of the basic materials company’s stock after buying an additional 120 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Air Products and Chemicals were worth $1,066,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Generali Investments Management Co LLC purchased a new stake in shares of Air Products and Chemicals during the 4th quarter worth about $26,000. Sierra Ocean LLC purchased a new stake in shares of Air Products and Chemicals during the 4th quarter worth about $30,000. WR Wealth Planners LLC grew its stake in Air Products and Chemicals by 40.3% during the fourth quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company’s stock worth $31,000 after buying an additional 31 shares during the period. Financial Perspectives Inc grew its stake in Air Products and Chemicals by 33.3% during the fourth quarter. Financial Perspectives Inc now owns 140 shares of the basic materials company’s stock worth $41,000 after buying an additional 35 shares during the period. Finally, Lee Danner & Bass Inc. purchased a new stake in Air Products and Chemicals during the fourth quarter worth approximately $44,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

APD has been the subject of several research reports. Bank of America downgraded shares of Air Products and Chemicals from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $330.00 to $282.00 in a research note on Tuesday, April 15th. Royal Bank of Canada initiated coverage on shares of Air Products and Chemicals in a research note on Friday. They set an “outperform” rating and a $355.00 price objective for the company. Morgan Stanley initiated coverage on shares of Air Products and Chemicals in a research note on Thursday, May 29th. They set an “equal weight” rating and a $290.00 price objective for the company. UBS Group decreased their price objective on shares of Air Products and Chemicals from $335.00 to $324.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Finally, Wells Fargo & Company decreased their price target on Air Products and Chemicals from $365.00 to $320.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Air Products and Chemicals currently has an average rating of “Moderate Buy” and an average target price of $332.41.

Air Products and Chemicals Stock Performance

Shares of APD opened at $280.02 on Friday. The business’s 50 day moving average is $271.69 and its two-hundred day moving average is $294.43. Air Products and Chemicals, Inc. has a 52-week low of $243.69 and a 52-week high of $341.14. The firm has a market cap of $62.32 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 3.07 and a beta of 0.86. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71.

Air Products and Chemicals (NYSE:APD) last announced its earnings results on Thursday, May 1st. The basic materials company reported $2.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.14). Air Products and Chemicals had a net margin of 31.88% and a return on equity of 15.78%. The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same period in the previous year, the company earned $2.85 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. Analysts forecast that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Tuesday, July 1st will be given a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date is Tuesday, July 1st. Air Products and Chemicals’s payout ratio is 104.07%.

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.