Air Products and Chemicals, Inc. (NYSE:APD) Shares Bought by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. increased its position in Air Products and Chemicals, Inc. (NYSE:APD) by 4.1% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 64,363 shares of the basic materials company’s stock after acquiring an additional 2,547 shares during the period. Avantax Advisory Services Inc.’s holdings in Air Products and Chemicals were worth $18,982,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Mantle Ridge LP purchased a new position in shares of Air Products and Chemicals during the 4th quarter worth $1,191,344,000. Norges Bank acquired a new stake in Air Products and Chemicals in the 4th quarter worth about $919,721,000. Bank of America Corp DE grew its holdings in Air Products and Chemicals by 129.4% in the 4th quarter. Bank of America Corp DE now owns 5,429,147 shares of the basic materials company’s stock valued at $1,574,670,000 after buying an additional 3,062,157 shares during the period. Capital International Investors acquired a new position in shares of Air Products and Chemicals during the 4th quarter valued at about $436,636,000. Finally, GAMMA Investing LLC boosted its position in shares of Air Products and Chemicals by 31,752.0% in the first quarter. GAMMA Investing LLC now owns 1,249,871 shares of the basic materials company’s stock worth $368,612,000 after acquiring an additional 1,245,947 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on APD. Barclays cut their price target on shares of Air Products and Chemicals from $355.00 to $325.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Bank of America lowered Air Products and Chemicals from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $330.00 to $282.00 in a research report on Tuesday, April 15th. Royal Bank Of Canada started coverage on Air Products and Chemicals in a report on Friday, June 13th. They issued an “outperform” rating and a $355.00 target price on the stock. UBS Group upped their price target on Air Products and Chemicals from $328.00 to $344.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. Finally, Mizuho lifted their price objective on Air Products and Chemicals from $310.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, July 15th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $334.75.

Air Products and Chemicals Price Performance

Shares of APD stock opened at $299.24 on Friday. The firm has a fifty day simple moving average of $283.27 and a 200-day simple moving average of $290.63. The company has a market capitalization of $66.59 billion, a PE ratio of 43.49, a price-to-earnings-growth ratio of 5.70 and a beta of 0.85. Air Products and Chemicals, Inc. has a twelve month low of $243.69 and a twelve month high of $341.14. The company has a current ratio of 1.00, a quick ratio of 0.85 and a debt-to-equity ratio of 0.85.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data on Thursday, May 1st. The basic materials company reported $2.69 earnings per share for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.14). Air Products and Chemicals had a net margin of 12.76% and a return on equity of 15.48%. The firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the previous year, the company earned $2.85 earnings per share. The business’s quarterly revenue was down .5% on a year-over-year basis. Equities research analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Wednesday, October 1st will be issued a dividend of $1.79 per share. The ex-dividend date is Wednesday, October 1st. This represents a $7.16 annualized dividend and a yield of 2.39%. Air Products and Chemicals’s dividend payout ratio is presently 104.07%.

Air Products and Chemicals Company Profile

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.