CWA Asset Management Group LLC Boosts Stake in Air Products and Chemicals, Inc. (NYSE:APD)

CWA Asset Management Group LLC raised its position in Air Products and Chemicals, Inc. (NYSE:APD) by 16.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,638 shares of the basic materials company’s stock after purchasing an additional 526 shares during the quarter. CWA Asset Management Group LLC’s holdings in Air Products and Chemicals were worth $1,073,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. PUREfi Wealth LLC acquired a new stake in Air Products and Chemicals during the 1st quarter worth approximately $335,000. Wolf Group Capital Advisors purchased a new stake in Air Products and Chemicals during the first quarter worth approximately $1,370,000. Cornerstone Wealth Management LLC increased its position in shares of Air Products and Chemicals by 4.0% in the first quarter. Cornerstone Wealth Management LLC now owns 2,661 shares of the basic materials company’s stock worth $785,000 after acquiring an additional 103 shares in the last quarter. Boomfish Wealth Group LLC raised its stake in shares of Air Products and Chemicals by 2.0% in the 1st quarter. Boomfish Wealth Group LLC now owns 5,384 shares of the basic materials company’s stock valued at $1,588,000 after acquiring an additional 106 shares during the period. Finally, Insigneo Advisory Services LLC lifted its holdings in shares of Air Products and Chemicals by 9.5% during the 1st quarter. Insigneo Advisory Services LLC now owns 3,208 shares of the basic materials company’s stock valued at $946,000 after acquiring an additional 279 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Air Products and Chemicals Trading Down 0.6%

APD opened at $275.32 on Friday. Air Products and Chemicals, Inc. has a 12-month low of $243.69 and a 12-month high of $341.14. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.00 and a quick ratio of 0.85. The stock has a market capitalization of $61.27 billion, a PE ratio of 40.02, a P/E/G ratio of 5.28 and a beta of 0.86. The firm’s fifty day moving average price is $272.89 and its 200 day moving average price is $292.85.

Air Products and Chemicals (NYSE:APD) last issued 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). The company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.94 billion. Air Products and Chemicals had a net margin of 12.76% and a return on equity of 15.48%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the company posted $2.85 EPS. As a group, research analysts expect that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Tuesday, July 1st will be issued a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Tuesday, July 1st. Air Products and Chemicals’s dividend payout ratio is presently 104.07%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on APD. UBS Group lowered their price target on Air Products and Chemicals from $335.00 to $324.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Morgan Stanley assumed coverage on Air Products and Chemicals in a research note on Thursday, May 29th. They issued an “equal weight” rating and a $290.00 target price for the company. Citigroup reduced their price target on Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. Wells Fargo & Company lowered their price objective on shares of Air Products and Chemicals from $365.00 to $320.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Finally, Bank of America cut shares of Air Products and Chemicals from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $330.00 to $282.00 in a research report on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Air Products and Chemicals presently has a consensus rating of “Moderate Buy” and an average target price of $332.41.

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.