26,534 Shares in Air Products and Chemicals, Inc. (NYSE:APD) Acquired by Perennial Advisors LLC

Perennial Advisors LLC bought a new stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 26,534 shares of the basic materials company's stock, valued at approximately $7,696,000. Air Products and Chemicals makes up 1.7% of Perennial Advisors LLC's holdings, making the stock its 20th largest position.

Several other large investors also recently modified their holdings of the company. Generali Investments Management Co LLC bought a new position in shares of Air Products and Chemicals during the 4th quarter valued at approximately $26,000. Raleigh Capital Management Inc. grew its position in shares of Air Products and Chemicals by 69.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company's stock valued at $30,000 after purchasing an additional 43 shares in the last quarter. Sierra Ocean LLC bought a new position in Air Products and Chemicals in the fourth quarter valued at $30,000. Financial Life Planners bought a new position in shares of Air Products and Chemicals during the 4th quarter valued at about $31,000. Finally, WR Wealth Planners LLC grew its position 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 valued at $31,000 after acquiring an additional 31 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Air Products and Chemicals Stock Up 1.7%

Shares of APD stock traded up $4.58 on Friday, reaching $277.75. 695,794 shares of the company's stock traded hands, compared to its average volume of 1,443,235. The business's 50 day moving average price is $272.24 and its two-hundred day moving average price is $297.77. The company has a market capitalization of $61.81 billion, a P/E ratio of 16.12, a price-to-earnings-growth ratio of 3.07 and a beta of 0.88. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 1.11. Air Products and Chemicals, Inc. has a 12-month low of $243.69 and a 12-month high of $341.14.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The basic materials company reported $2.69 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the prior year, the company posted $2.85 EPS. The firm's quarterly revenue was down .5% compared to the same quarter last year. On average, equities analysts forecast that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Tuesday, July 1st will be issued a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Tuesday, July 1st. Air Products and Chemicals's dividend payout ratio is currently 104.07%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on APD. UBS Group reduced their price target on Air Products and Chemicals from $335.00 to $324.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. 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 report on Friday, May 2nd. BMO Capital Markets lowered shares of Air Products and Chemicals from an "outperform" rating to a "market perform" rating in a research report on Friday, February 7th. Wall Street Zen lowered Air Products and Chemicals from a "hold" rating to a "sell" rating in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $320.00 target price (down from $345.00) on shares of Air Products and Chemicals in a research report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $331.00.

Insider Activity at Air Products and Chemicals

In related news, VP Walter L. Nelson sold 589 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $308.50, for a total value of $181,706.50. Following the transaction, the vice president now owns 719 shares in the company, valued at approximately $221,811.50. This trade represents a 45.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.41% of the stock is owned by company insiders.

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.