Turtle Creek Wealth Advisors LLC Invests $2.67 Million in Air Products and Chemicals, Inc. (NYSE:APD)

Turtle Creek Wealth Advisors LLC acquired a new position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,053 shares of the basic materials company's stock, valued at approximately $2,670,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of APD. Wayfinding Financial LLC purchased a new position in shares of Air Products and Chemicals during the 1st quarter valued at about $25,000. Generali Investments Management Co LLC purchased a new position in Air Products and Chemicals in the 4th quarter worth approximately $26,000. Citizens National Bank Trust Department increased its position in shares of Air Products and Chemicals by 833.3% in the first quarter. Citizens National Bank Trust Department now owns 112 shares of the basic materials company's stock valued at $33,000 after acquiring an additional 100 shares during the period. Lee Danner & Bass Inc. purchased a new position in shares of Air Products and Chemicals in the fourth quarter valued at about $44,000. Finally, Sunbelt Securities Inc. increased its position in shares of Air Products and Chemicals by 525.9% in the fourth quarter. Sunbelt Securities Inc. now owns 169 shares of the basic materials company's stock valued at $49,000 after acquiring an additional 142 shares during the period. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Up 1.0%

Air Products and Chemicals stock traded up $2.78 during mid-day trading on Thursday, hitting $291.77. The company had a trading volume of 251,437 shares, compared to its average volume of 1,353,013. The business has a fifty day moving average of $280.06 and a 200 day moving average of $290.14. The stock has a market cap of $64.93 billion, a price-to-earnings ratio of 42.41, a PEG ratio of 5.50 and a beta of 0.85. Air Products and Chemicals, Inc. has a 1 year low of $243.69 and a 1 year high of $341.14. The company has a quick ratio of 0.85, a current ratio of 1.00 and a debt-to-equity ratio of 0.85.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its earnings results on Thursday, May 1st. The basic materials company reported $2.69 EPS for the quarter, missing the consensus estimate 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 company had revenue of $2.92 billion for the quarter, compared to analysts' expectations of $2.94 billion. During the same quarter in the previous year, the firm posted $2.85 earnings per share. Air Products and Chemicals's revenue for the quarter was down .5% on a year-over-year basis. On average, sell-side analysts expect that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Tuesday, July 1st will be issued a $1.79 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.45%. Air Products and Chemicals's dividend payout ratio (DPR) is 104.07%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. UBS Group upped their price objective on shares of Air Products and Chemicals from $328.00 to $344.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Mizuho raised their target price on shares of Air Products and Chemicals from $310.00 to $325.00 and gave the stock an "outperform" rating in a research report on Tuesday. Wells Fargo & Company upped their target price on Air Products and Chemicals from $320.00 to $345.00 and gave the company an "overweight" rating in a research report on Monday. Citigroup upped their price target on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Finally, Bank of America downgraded Air Products and Chemicals from a "neutral" rating to an "underperform" rating and cut their price target for the stock from $330.00 to $282.00 in a research report on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $331.53.

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.