Haverford Financial Services Inc. Purchases 2,388 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Haverford Financial Services Inc. grew its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 11.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,086 shares of the basic materials company’s stock after acquiring an additional 2,388 shares during the quarter. Air Products and Chemicals accounts for 2.1% of Haverford Financial Services Inc.’s portfolio, making the stock its 23rd biggest holding. Haverford Financial Services Inc.’s holdings in Air Products and Chemicals were worth $6,809,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in APD. Brighton Jones LLC boosted its holdings in Air Products and Chemicals by 14.5% in the fourth quarter. Brighton Jones LLC now owns 3,260 shares of the basic materials company’s stock worth $945,000 after acquiring an additional 412 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Air Products and Chemicals by 36.6% in the fourth quarter. Wellington Management Group LLP now owns 8,775 shares of the basic materials company’s stock worth $2,545,000 after acquiring an additional 2,352 shares in the last quarter. Trexquant Investment LP bought a new stake in Air Products and Chemicals in the fourth quarter worth $722,000. Resona Asset Management Co. Ltd. bought a new stake in Air Products and Chemicals in the fourth quarter worth $20,636,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Air Products and Chemicals in the fourth quarter worth $513,000. 81.66% of the stock is owned by institutional investors.

Air Products and Chemicals Stock Performance

Shares of APD opened at $281.88 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.29 and a debt-to-equity ratio of 0.93. The business has a 50-day simple moving average of $285.05 and a two-hundred day simple moving average of $290.21. The stock has a market cap of $62.73 billion, a price-to-earnings ratio of 40.56, a PEG ratio of 5.41 and a beta of 0.81. Air Products and Chemicals, Inc. has a 52 week low of $243.69 and a 52 week high of $341.14.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $3.09 EPS for the quarter, topping analysts’ consensus estimates of $2.99 by $0.10. The business had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Air Products and Chemicals had a return on equity of 15.11% and a net margin of 12.86%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.20 earnings per share. On average, analysts expect that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Wednesday, October 1st will be given a dividend of $1.79 per share. The ex-dividend date is Wednesday, October 1st. This represents a $7.16 annualized dividend and a dividend yield of 2.5%. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 103.02%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on APD shares. Bank of America downgraded Air Products and Chemicals from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $330.00 to $282.00 in a report on Tuesday, April 15th. Barclays lowered their price target on Air Products and Chemicals from $355.00 to $325.00 and set an “overweight” rating on the stock in a report on Friday, May 2nd. Citigroup upped their price target on Air Products and Chemicals from $310.00 to $320.00 and gave the company a “buy” rating in a report on Monday, June 30th. Wells Fargo & Company upped their price target on Air Products and Chemicals from $320.00 to $345.00 and gave the company an “overweight” rating in a report on Monday, July 14th. Finally, Mizuho upped their price target on Air Products and Chemicals from $310.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Air Products and Chemicals currently has an average rating of “Moderate Buy” and an average target price of $334.75.

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.