Wedge Capital Management L L P NC Acquires 3,963 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Wedge Capital Management L L P NC increased its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 15.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,025 shares of the basic materials company's stock after acquiring an additional 3,963 shares during the period. Wedge Capital Management L L P NC's holdings in Air Products and Chemicals were worth $8,560,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. First Horizon Advisors Inc. grew its holdings in shares of Air Products and Chemicals by 1.8% during the fourth quarter. First Horizon Advisors Inc. now owns 1,742 shares of the basic materials company's stock worth $505,000 after buying an additional 31 shares in the last quarter. Lake Street Advisors Group LLC boosted its position in Air Products and Chemicals by 1.6% during the 4th quarter. Lake Street Advisors Group LLC now owns 2,028 shares of the basic materials company's stock worth $588,000 after acquiring an additional 31 shares during the last quarter. WR Wealth Planners LLC raised its holdings in shares of Air Products and Chemicals by 40.3% in the fourth quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company's stock valued at $31,000 after purchasing an additional 31 shares during the last quarter. SRS Capital Advisors Inc. lifted its position in shares of Air Products and Chemicals by 3.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 974 shares of the basic materials company's stock worth $282,000 after purchasing an additional 33 shares in the last quarter. Finally, Baker Avenue Asset Management LP boosted its holdings in Air Products and Chemicals by 2.3% during the fourth quarter. Baker Avenue Asset Management LP now owns 1,540 shares of the basic materials company's stock worth $447,000 after purchasing an additional 34 shares during the last quarter. 81.66% of the stock is owned by institutional investors.

Air Products and Chemicals Price Performance

NYSE:APD traded up $0.96 during mid-day trading on Thursday, reaching $283.17. The stock had a trading volume of 678,356 shares, compared to its average volume of 1,432,732. Air Products and Chemicals, Inc. has a 12 month low of $243.69 and a 12 month high of $341.14. The stock has a market capitalization of $63.02 billion, a PE ratio of 16.44, a P/E/G ratio of 3.07 and a beta of 0.86. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 0.96. The stock has a 50-day simple moving average of $270.55 and a two-hundred day simple moving average of $295.16.

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 for the quarter, missing the consensus estimate of $2.83 by ($0.14). The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.94 billion. Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. Air Products and Chemicals's quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.85 earnings per share. On average, equities 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 business also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Tuesday, July 1st will be given a $1.79 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $7.16 dividend on an annualized basis and a yield of 2.53%. Air Products and Chemicals's dividend payout ratio is currently 104.07%.

Analyst Ratings Changes

Several brokerages have issued reports on APD. UBS Group lowered their price target on shares of Air Products and Chemicals from $335.00 to $324.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Citigroup lowered their target price on Air Products and Chemicals from $373.00 to $345.00 and set a "buy" rating on the stock in a research report on Tuesday, March 25th. Barclays reduced their price target on 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. 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 research report on Wednesday, April 9th. Finally, Bank of America downgraded Air Products and Chemicals from a "neutral" rating to an "underperform" rating and cut their price objective for the company from $330.00 to $282.00 in a report on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Air Products and Chemicals currently has an average rating of "Moderate Buy" and a consensus target price of $331.00.

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.