Victory Capital Management Inc. reduced its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 2.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,320 shares of the basic materials company's stock after selling 1,657 shares during the period. Victory Capital Management Inc.'s holdings in Air Products and Chemicals were worth $23,393,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in the stock. Wayfinding Financial LLC purchased a new position in shares of Air Products and Chemicals during the first quarter worth approximately $25,000. Citizens National Bank Trust Department lifted its holdings in 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. Sunbelt Securities Inc. lifted its holdings in Air Products and Chemicals by 525.9% in the fourth quarter. Sunbelt Securities Inc. now owns 169 shares of the basic materials company's stock valued at $49,000 after acquiring an additional 142 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in Air Products and Chemicals in the fourth quarter valued at $50,000. Finally, Physician Wealth Advisors Inc. acquired a new position in shares of Air Products and Chemicals during the 4th quarter worth $51,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.
Air Products and Chemicals Trading Down 0.5%
NYSE:APD opened at $293.87 on Tuesday. 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, Inc. has a 1-year low of $243.69 and a 1-year high of $341.14. The firm has a market capitalization of $65.40 billion, a price-to-earnings ratio of 42.71, a price-to-earnings-growth ratio of 5.66 and a beta of 0.85. The stock has a fifty day simple moving average of $281.02 and a 200 day simple moving average of $290.26.
Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The basic materials company reported $2.69 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. The firm's revenue was down .5% on a year-over-year basis. During the same period in the prior year, the company posted $2.85 earnings per share. Sell-side analysts forecast that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.
Air Products and Chemicals Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Wednesday, October 1st will be paid a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Wednesday, October 1st. Air Products and Chemicals's dividend payout ratio is currently 104.07%.
Analyst Ratings Changes
A number of brokerages have recently issued reports on APD. Barclays decreased their target price on Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Mizuho boosted their price target on Air Products and Chemicals from $310.00 to $325.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Bank of America lowered Air Products and Chemicals from a "neutral" rating to an "underperform" rating and reduced their price target for the stock from $330.00 to $282.00 in a research report on Tuesday, April 15th. UBS Group boosted 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. Finally, Wells Fargo & Company upped their target price on Air Products and Chemicals from $320.00 to $345.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Two 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $331.53.
Check Out Our Latest Research Report on APD
Air Products and Chemicals Company Profile
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Free Report)
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.
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