HighTower Advisors LLC Boosts Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Key Points

• HighTower Advisors LLC increased its stake in Air Products and Chemicals by 2.8%, owning 314,426 shares worth approximately $92.7 million as of the end of the last quarter.
• Air Products and Chemicals reported a 3.09 earnings per share for the last quarter, beating analysts' estimates, and recorded quarterly revenue of $3.02 billion, a year-over-year increase of 1.2%.
• The firm announced a quarterly dividend of $1.79 per share, with a payout ratio of 103.02%, reflecting a yield of 2.5% for shareholders of record on October 1st.

HighTower Advisors LLC lifted its position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 2.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 314,426 shares of the basic materials company's stock after buying an additional 8,422 shares during the period. HighTower Advisors LLC owned about 0.14% of Air Products and Chemicals worth $92,730,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of APD. Parvin Asset Management LLC bought a new stake in Air Products and Chemicals during the fourth quarter worth about $715,000. Ritholtz Wealth Management grew its position in shares of Air Products and Chemicals by 20.9% in the first quarter. Ritholtz Wealth Management now owns 1,603 shares of the basic materials company's stock valued at $473,000 after purchasing an additional 277 shares during the last quarter. Mantle Ridge LP acquired a new position in shares of Air Products and Chemicals in the fourth quarter valued at approximately $1,191,344,000. GAMMA Investing LLC grew its position in shares of Air Products and Chemicals by 8.0% in the first quarter. GAMMA Investing LLC now owns 4,238 shares of the basic materials company's stock valued at $1,250,000 after purchasing an additional 314 shares during the last quarter. Finally, Capital International Investors acquired a new position in shares of Air Products and Chemicals in the fourth quarter valued at approximately $436,636,000. 81.66% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Victoria Brifo sold 1,359 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $292.38, for a total transaction of $397,344.42. Following the transaction, the vice president directly owned 8,686 shares of the company's stock, valued at approximately $2,539,612.68. This represents a 13.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.41% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Barclays decreased their target price on 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. UBS Group increased their price target on Air Products and Chemicals from $328.00 to $344.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Wall Street Zen raised Air Products and Chemicals from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Morgan Stanley started coverage on Air Products and Chemicals in a research report on Thursday, May 29th. They set an "equal weight" rating and a $290.00 price target on the stock. Finally, Royal Bank Of Canada assumed coverage on Air Products and Chemicals in a research report on Friday, June 13th. They set an "outperform" rating and a $355.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $335.07.

Air Products and Chemicals Trading Down 0.6%

Shares of NYSE:APD traded down $1.64 during midday trading on Friday, reaching $290.53. The company's stock had a trading volume of 1,033,289 shares, compared to its average volume of 980,574. The firm has a market capitalization of $64.66 billion, a price-to-earnings ratio of 41.80, a PEG ratio of 6.48 and a beta of 0.81. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.12 and a current ratio of 1.29. The firm has a 50 day moving average price of $287.62 and a two-hundred day moving average price of $288.13. Air Products and Chemicals, Inc. has a fifty-two week low of $243.69 and a fifty-two week high of $341.14.

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

Air Products and Chemicals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Wednesday, October 1st will be paid a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis 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%.

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.