Air Products and Chemicals, Inc. (NYSE:APD) Position Boosted by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its holdings in Air Products and Chemicals by 6.0%, owning 111,047 shares valued at $32.75 million as of the end of the first quarter.
• The company reported a net margin of 12.76% and earnings per share of $2.69, falling short of analysts' estimates of $2.83 for the quarter.
• Air Products and Chemicals declared a quarterly dividend of $1.79 per share, with a yield of 2.39%, scheduled for payment on November 10th.

Cetera Investment Advisers increased its position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 6.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,047 shares of the basic materials company's stock after acquiring an additional 6,313 shares during the period. Cetera Investment Advisers' holdings in Air Products and Chemicals were worth $32,750,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC lifted its stake in Air Products and Chemicals by 14.5% in the 4th quarter. Brighton Jones LLC now owns 3,260 shares of the basic materials company's stock valued at $945,000 after buying an additional 412 shares in the last quarter. American Century Companies Inc. lifted its stake in Air Products and Chemicals by 11.2% in the 4th quarter. American Century Companies Inc. now owns 52,503 shares of the basic materials company's stock valued at $15,228,000 after buying an additional 5,286 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in Air Products and Chemicals in the 4th quarter valued at approximately $230,000. UniSuper Management Pty Ltd lifted its stake in Air Products and Chemicals by 25.6% in the 4th quarter. UniSuper Management Pty Ltd now owns 15,969 shares of the basic materials company's stock valued at $4,632,000 after buying an additional 3,251 shares in the last quarter. Finally, NEOS Investment Management LLC lifted its stake in Air Products and Chemicals by 28.9% in the 4th quarter. NEOS Investment Management LLC now owns 11,080 shares of the basic materials company's stock valued at $3,194,000 after buying an additional 2,484 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company's stock.

Air Products and Chemicals Stock Down 1.0%

NYSE APD traded down $2.99 during trading hours on Wednesday, hitting $292.20. The company had a trading volume of 145,383 shares, compared to its average volume of 1,333,975. Air Products and Chemicals, Inc. has a fifty-two week low of $243.69 and a fifty-two week high of $341.14. The company has a market capitalization of $65.03 billion, a price-to-earnings ratio of 42.48, a P/E/G ratio of 5.67 and a beta of 0.85. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.00 and a quick ratio of 0.85. The firm's 50 day moving average is $284.02 and its 200 day moving average is $290.75.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The basic materials company reported $2.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.83 by ($0.14). Air Products and Chemicals had a net margin of 12.76% and a return on equity of 15.48%. 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 earnings per share. The firm's revenue for the quarter was down .5% on a year-over-year basis. Sell-side analysts anticipate 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 firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Wednesday, October 1st will be paid 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 2.45%. Air Products and Chemicals's dividend payout ratio is presently 104.07%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. UBS Group upped their target price 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. Barclays reduced their price target on Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Royal Bank Of Canada began coverage on Air Products and Chemicals in a research note on Friday, June 13th. They set an "outperform" rating and a $355.00 price target on the stock. Morgan Stanley began coverage on Air Products and Chemicals in a research note on Thursday, May 29th. They set an "equal weight" rating and a $290.00 price target on the stock. Finally, Citigroup increased their price target on Air Products and Chemicals from $310.00 to $320.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Air Products and Chemicals has a consensus rating of "Moderate Buy" and an average target price of $334.75.

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.