Avantax Advisory Services Inc. Purchases 2,547 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Key Points

• Avantax Advisory Services Inc. increased its stake in Air Products and Chemicals by 4.1%, now owning 64,363 shares valued at nearly $19 million.
• Air Products and Chemicals reported a net income decline with earnings per share of $2.69, missing expectations, while quarterly revenue was down 0.5% year-over-year.
• The company announced a dividend of $1.79 per share to be paid on November 10, which reflects an annual yield of 2.39% and a payout ratio exceeding 100%.

Avantax Advisory Services Inc. raised its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 4.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,363 shares of the basic materials company's stock after acquiring an additional 2,547 shares during the period. Avantax Advisory Services Inc.'s holdings in Air Products and Chemicals were worth $18,982,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in Air Products and Chemicals by 14.5% during 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. boosted its position in Air Products and Chemicals by 11.2% during 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 acquiring an additional 5,286 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of Air Products and Chemicals in the 4th quarter worth $230,000. Modern Wealth Management LLC raised its position in shares of Air Products and Chemicals by 5.5% in the 4th quarter. Modern Wealth Management LLC now owns 1,728 shares of the basic materials company's stock worth $537,000 after acquiring an additional 90 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC increased its position in Air Products and Chemicals by 7.3% during the 4th quarter. Signature Estate & Investment Advisors LLC now owns 721 shares of the basic materials company's stock valued at $209,000 after buying an additional 49 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

APD has been the topic of a number of recent research reports. Morgan Stanley initiated coverage on Air Products and Chemicals in a research note on Thursday, May 29th. They issued an "equal weight" rating and a $290.00 target price on the stock. Barclays dropped their target price on 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. UBS Group raised their target price on Air Products and Chemicals from $328.00 to $344.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Wells Fargo & Company raised their target price on Air Products and Chemicals from $320.00 to $345.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Finally, Mizuho raised their target price on Air Products and Chemicals from $310.00 to $325.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Air Products and Chemicals presently has a consensus rating of "Moderate Buy" and an average price target of $334.75.

Air Products and Chemicals Trading Down 0.6%

NYSE:APD traded down $1.81 on Tuesday, reaching $293.75. The company's stock had a trading volume of 180,099 shares, compared to its average volume of 1,338,881. 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 debt-to-equity ratio of 0.85, a quick ratio of 0.85 and a current ratio of 1.00. The firm has a market cap of $65.37 billion, a PE ratio of 42.69, a PEG ratio of 5.74 and a beta of 0.85. The business's 50-day moving average price is $283.63 and its two-hundred day moving average price is $290.72.

Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The basic materials company reported $2.69 EPS 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 business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the previous year, the business posted $2.85 EPS. The company's revenue for the quarter was down .5% on a year-over-year basis. Equities research 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 disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Wednesday, October 1st will be paid a $1.79 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $7.16 annualized dividend and a dividend yield of 2.44%. Air Products and Chemicals's dividend payout ratio is 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.