HB Wealth Management LLC Buys 6,045 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Key Points

• HB Wealth Management LLC increased its stake in Air Products and Chemicals by 22.3% in Q1, now owning 33,139 shares valued at nearly $9.77 million.
• The company reported quarterly earnings of $2.69 per share, missing estimates by $0.14, with revenues of $2.92 billion for the quarter.
• A quarterly dividend of $1.79 per share will be issued to shareholders on November 10th, representing an annual yield of 2.39%.

HB Wealth Management LLC raised its holdings in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 22.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,139 shares of the basic materials company's stock after buying an additional 6,045 shares during the quarter. HB Wealth Management LLC's holdings in Air Products and Chemicals were worth $9,773,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Wayfinding Financial LLC bought a new stake in Air Products and Chemicals during the 1st quarter worth about $25,000. Citizens National Bank Trust Department boosted its holdings in Air Products and Chemicals by 833.3% during the first quarter. Citizens National Bank Trust Department now owns 112 shares of the basic materials company's stock worth $33,000 after buying an additional 100 shares during the last quarter. Sunbelt Securities Inc. boosted its stake 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 last quarter. Strategic Investment Solutions Inc. IL bought a new stake in Air Products and Chemicals in the fourth quarter valued at approximately $50,000. Finally, Physician Wealth Advisors Inc. acquired a new stake in Air Products and Chemicals during the 4th quarter worth $51,000. Institutional investors and hedge funds own 81.66% of the company's stock.

Air Products and Chemicals Stock Down 0.8%

Shares of NYSE:APD traded down $2.46 during mid-day trading on Wednesday, hitting $292.74. 339,881 shares of the company traded hands, compared to its average volume of 1,335,348. The stock has a market cap of $65.15 billion, a P/E ratio of 42.52, a P/E/G ratio of 5.67 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 stock has a 50-day moving average price of $284.02 and a two-hundred day moving average price of $290.75.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its earnings results on Thursday, May 1st. The basic materials company reported $2.69 earnings per share for the quarter, missing analysts' consensus estimates of $2.83 by ($0.14). Air Products and Chemicals had a net margin of 12.76% and a return on equity of 15.48%. The company had revenue of $2.92 billion during the quarter, compared to analysts' expectations of $2.94 billion. During the same quarter in the previous year, the firm earned $2.85 earnings per share. The firm's revenue was down .5% compared to the same quarter last year. On average, equities research 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 business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Wednesday, October 1st will be issued 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 Wednesday, October 1st. Air Products and Chemicals's payout ratio is currently 104.07%.

Analyst Ratings Changes

A number of brokerages recently weighed in on APD. Bank of America lowered shares of Air Products and Chemicals from a "neutral" rating to an "underperform" rating and reduced their target price for the stock from $330.00 to $282.00 in a research note on Tuesday, April 15th. Barclays cut their target price on shares of Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Morgan Stanley started coverage on shares of Air Products and Chemicals in a research note on Thursday, May 29th. They issued an "equal weight" rating and a $290.00 target price for the company. Royal Bank Of Canada started coverage on shares of Air Products and Chemicals in a research note on Friday, June 13th. They set an "outperform" rating and a $355.00 target price for the company. Finally, Citigroup raised their target price on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Air Products and Chemicals has a consensus rating of "Moderate Buy" and an average target price of $334.75.

Air Products and Chemicals 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.