ZWJ Investment Counsel Inc. Raises Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

ZWJ Investment Counsel Inc. increased its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 5.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 56,326 shares of the basic materials company's stock after purchasing an additional 3,052 shares during the quarter. ZWJ Investment Counsel Inc.'s holdings in Air Products and Chemicals were worth $16,612,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in APD. Generali Investments Management Co LLC purchased a new position in Air Products and Chemicals during the 4th quarter valued at about $26,000. Citizens National Bank Trust Department boosted 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 Air Products and Chemicals during the fourth quarter valued at approximately $44,000. Sunbelt Securities Inc. increased 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 acquiring an additional 142 shares during the period. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Air Products and Chemicals in the 4th quarter worth approximately $50,000. 81.66% of the stock is currently owned by institutional investors.

Air Products and Chemicals Price Performance

Shares of APD stock traded up $1.54 during trading hours on Friday, hitting $291.84. 682,381 shares of the company's stock were exchanged, compared to its average volume of 1,372,158. The company has a market capitalization of $64.95 billion, a PE ratio of 42.42, a PEG ratio of 5.60 and a beta of 0.85. The company has a current ratio of 1.00, a quick ratio of 0.85 and a debt-to-equity ratio of 0.85. Air Products and Chemicals, Inc. has a 12-month low of $243.69 and a 12-month high of $341.14. The business's 50 day simple moving average is $276.82 and its 200-day simple moving average is $290.28.

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 analysts' consensus estimates of $2.83 by ($0.14). The business 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%. Air Products and Chemicals's revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.85 EPS. On average, equities research analysts anticipate 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 announced 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 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Tuesday, July 1st. Air Products and Chemicals's dividend payout ratio (DPR) is presently 104.07%.

Wall Street Analyst Weigh In

APD has been the subject of a number of recent analyst reports. Barclays reduced their price target on shares of Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. UBS Group dropped their price objective on Air Products and Chemicals from $335.00 to $324.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Bank of America lowered Air Products and Chemicals from a "neutral" rating to an "underperform" rating and decreased their target price for the stock from $330.00 to $282.00 in a research note on Tuesday, April 15th. Wells Fargo & Company lowered 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. Finally, Citigroup boosted their price objective on Air Products and Chemicals from $310.00 to $320.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $330.94.

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.