Turtle Creek Wealth Advisors LLC Takes $2.67 Million Position 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 13F filing with the Securities and Exchange Commission. The fund acquired 9,053 shares of the basic materials company's stock, valued at approximately $2,670,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of APD. Wayfinding Financial LLC bought a new stake in Air Products and Chemicals during the 1st quarter worth $25,000. Generali Investments Management Co LLC acquired a new position in Air Products and Chemicals during the 4th quarter worth about $26,000. Citizens National Bank Trust Department lifted its holdings in Air Products and Chemicals by 833.3% during the 1st quarter. Citizens National Bank Trust Department now owns 112 shares of the basic materials company's stock worth $33,000 after buying an additional 100 shares during the period. Lee Danner & Bass Inc. acquired a new position in Air Products and Chemicals during the 4th quarter worth about $44,000. Finally, Sunbelt Securities Inc. lifted its holdings in Air Products and Chemicals by 525.9% during the 4th quarter. Sunbelt Securities Inc. now owns 169 shares of the basic materials company's stock worth $49,000 after buying an additional 142 shares during the period. Institutional investors own 81.66% of the company's stock.

Analyst Ratings Changes

APD has been the topic of several recent research reports. Mizuho lifted their target price on Air Products and Chemicals from $310.00 to $325.00 and gave the stock an "outperform" rating in a report on Tuesday. Bank of America downgraded Air Products and Chemicals from a "neutral" rating to an "underperform" rating and dropped their price objective for the company from $330.00 to $282.00 in a research note on Tuesday, April 15th. Citigroup boosted their price objective on 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. UBS Group boosted their price objective on Air Products and Chemicals from $328.00 to $344.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Finally, Morgan Stanley assumed coverage on Air Products and Chemicals in a research note on Thursday, May 29th. They issued an "equal weight" rating and a $290.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $331.53.

Air Products and Chemicals Stock Up 1.6%

Shares of Air Products and Chemicals stock traded up $4.67 on Thursday, hitting $293.66. The company had a trading volume of 1,254,260 shares, compared to its average volume of 1,359,336. The stock has a market capitalization of $65.35 billion, a price-to-earnings ratio of 42.68, a P/E/G ratio of 5.54 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 stock has a 50 day moving average of $280.54 and a 200-day moving average of $290.18. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.85 and a current ratio of 1.00.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $2.92 billion during the quarter, compared to analysts' expectations of $2.94 billion. Air Products and Chemicals had a return on equity of 15.48% and a net margin of 12.76%. The business's revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the company earned $2.85 earnings per share. As a group, sell-side analysts forecast that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Tuesday, July 1st will be paid a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Tuesday, July 1st. Air Products and Chemicals's dividend payout ratio (DPR) is presently 104.07%.

Air Products and Chemicals 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.