Running Oak Capital LLC Acquires 4,404 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Running Oak Capital LLC boosted its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 9.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,478 shares of the basic materials company's stock after acquiring an additional 4,404 shares during the period. Running Oak Capital LLC's holdings in Air Products and Chemicals were worth $14,592,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in APD. Mantle Ridge LP bought a new stake in Air Products and Chemicals in the fourth quarter valued at approximately $1,191,344,000. Norges Bank bought a new stake in Air Products and Chemicals in the fourth quarter valued at approximately $919,721,000. Bank of America Corp DE boosted its holdings in Air Products and Chemicals by 129.4% in the fourth 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 acquiring an additional 3,062,157 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Air Products and Chemicals in the fourth quarter valued at approximately $885,371,000. Finally, Capital International Investors bought a new position in shares of Air Products and Chemicals during the 4th quarter worth approximately $436,636,000. 81.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on APD. Barclays cut their price target 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. Royal Bank Of Canada began coverage on Air Products and Chemicals in a report on Friday, June 13th. They set an "outperform" rating and a $355.00 price target on the stock. Citigroup cut their price target on Air Products and Chemicals from $373.00 to $345.00 and set a "buy" rating on the stock in a report on Tuesday, March 25th. Bank of America cut 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 report on Tuesday, April 15th. Finally, Wells Fargo & Company cut their price target on Air Products and Chemicals from $365.00 to $320.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $332.41.

Air Products and Chemicals Stock Down 1.6%

NYSE APD traded down $4.40 on Friday, reaching $270.98. The company had a trading volume of 2,050,306 shares, compared to its average volume of 1,423,229. The stock has a market capitalization of $60.30 billion, a P/E ratio of 39.39, a P/E/G ratio of 5.19 and a beta of 0.86. The company's fifty day moving average is $272.94 and its 200 day moving average is $291.99. Air Products and Chemicals, Inc. has a 52-week low of $243.69 and a 52-week 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 released 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). 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 net margin of 12.76% and a return on equity of 15.48%. The company's quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.85 earnings per share. 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 business also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Tuesday, July 1st will be given a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Tuesday, July 1st. Air Products and Chemicals's payout ratio is currently 104.07%.

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.