Benjamin Edwards Inc. Purchases 2,356 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Key Points

• Benjamin Edwards Inc. increased its stake in Air Products and Chemicals by 2.5%, owning 95,436 shares valued at $28.1 million.
• The company's quarterly earnings results showed an EPS of $3.09, exceeding estimates, with a revenue increase of 1.2% year-over-year.
• Air Products and Chemicals declared a quarterly dividend of $1.79 per share, with a dividend yield of 2.5%.

Benjamin Edwards Inc. grew its position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 2.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 95,436 shares of the basic materials company's stock after buying an additional 2,356 shares during the period. Benjamin Edwards Inc.'s holdings in Air Products and Chemicals were worth $28,146,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in APD. Wayfinding Financial LLC bought a new stake in Air Products and Chemicals during the 1st quarter worth about $25,000. Cheviot Value Management LLC acquired a new position in Air Products and Chemicals in the 1st quarter valued at about $27,000. Citizens National Bank Trust Department grew its stake in Air Products and Chemicals by 833.3% in the 1st quarter. Citizens National Bank Trust Department now owns 112 shares of the basic materials company's stock valued at $33,000 after buying an additional 100 shares during the last quarter. Sunbelt Securities Inc. grew its position in shares of 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 purchasing an additional 142 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Air Products and Chemicals during the 4th quarter worth approximately $50,000. Institutional investors and hedge funds own 81.66% of the company's stock.

Analyst Upgrades and Downgrades

APD has been the subject of several research reports. Wells Fargo & Company increased their price objective on shares of Air Products and Chemicals from $320.00 to $345.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Morgan Stanley began coverage on shares of Air Products and Chemicals in a research note on Thursday, May 29th. They set an "equal weight" rating and a $290.00 target price for the company. Wall Street Zen upgraded shares of Air Products and Chemicals from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Barclays dropped their price target on shares of Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Finally, Royal Bank Of Canada started coverage on shares of Air Products and Chemicals in a research report on Friday, June 13th. They issued an "outperform" rating and a $355.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $335.07.

Air Products and Chemicals Trading Down 1.6%

Shares of Air Products and Chemicals stock traded down $4.69 during trading on Monday, reaching $284.05. The company's stock had a trading volume of 1,115,147 shares, compared to its average volume of 948,619. 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 market cap of $63.21 billion, a price-to-earnings ratio of 40.87, a PEG ratio of 6.44 and a beta of 0.81. The firm's 50-day moving average is $286.59 and its two-hundred day moving average is $289.17. The company has a quick ratio of 1.12, a current ratio of 1.29 and a debt-to-equity ratio of 0.93.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The basic materials company reported $3.09 earnings per share for the quarter, beating the consensus estimate of $2.99 by $0.10. The business had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $2.95 billion. Air Products and Chemicals had a net margin of 12.86% and a return on equity of 15.11%. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.20 EPS. On average, sell-side analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Wednesday, October 1st will be given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, October 1st. Air Products and Chemicals's dividend payout ratio is 103.02%.

Insider Buying and Selling

In other news, VP Victoria Brifo sold 1,359 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $292.38, for a total transaction of $397,344.42. Following the sale, the vice president owned 8,686 shares of the company's stock, valued at $2,539,612.68. This trade represents a 13.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.41% of the company's stock.

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.