Sowell Financial Services LLC Acquires New Position in Air Products and Chemicals, Inc. (NYSE:APD)

Sowell Financial Services LLC bought a new stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,578 shares of the basic materials company's stock, valued at approximately $1,055,000.

Several other hedge funds have also bought and sold shares of APD. Mantle Ridge LP bought a new position in shares of Air Products and Chemicals in the fourth quarter worth about $1,191,344,000. Norges Bank bought a new position in Air Products and Chemicals in the 4th quarter worth approximately $919,721,000. Bank of America Corp DE grew its holdings in Air Products and Chemicals by 129.4% during 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 in the last quarter. Raymond James Financial Inc. purchased a new stake in Air Products and Chemicals during the 4th quarter valued at approximately $885,371,000. Finally, Capital International Investors bought a new stake in shares of Air Products and Chemicals during the fourth quarter valued at approximately $436,636,000. Institutional investors own 81.66% of the company's stock.

Air Products and Chemicals Trading Down 0.1%

Shares of APD traded down $0.23 during midday trading on Friday, hitting $275.15. The stock had a trading volume of 358,388 shares, compared to its average volume of 1,419,798. The stock's 50 day moving average is $272.89 and its 200 day moving average is $292.85. The firm has a market cap of $61.23 billion, a PE ratio of 40.00, a price-to-earnings-growth ratio of 5.28 and a beta of 0.86. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.00 and a quick ratio of 0.85. Air Products and Chemicals, Inc. has a 1 year low of $243.69 and a 1 year high of $341.14.

Air Products and Chemicals (NYSE:APD - Get Free Report) 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 return on equity of 15.48% and a net margin of 12.76%. The firm had revenue of $2.92 billion during the quarter, compared to analysts' expectations of $2.94 billion. During the same period last year, the company earned $2.85 earnings per share. The business's revenue for the quarter was down .5% compared to the same quarter last year. As a group, analysts forecast that Air Products and Chemicals, Inc. will post 12.69 EPS 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, August 11th. Investors 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 is Tuesday, July 1st. Air Products and Chemicals's payout ratio is currently 104.07%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on APD shares. Wells Fargo & Company dropped their target price 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. UBS Group dropped 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 report on Friday, May 2nd. Morgan Stanley initiated coverage on Air Products and Chemicals in a report on Thursday, May 29th. They issued an "equal weight" rating and a $290.00 target price on the stock. Royal Bank Of Canada initiated coverage on Air Products and Chemicals in a research report on Friday, June 13th. They issued an "outperform" rating and a $355.00 target price on the stock. Finally, Citigroup cut their price target on Air Products and Chemicals from $373.00 to $345.00 and set a "buy" rating for the company in a report on Tuesday, March 25th. Two equities 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.