Charles Schwab Investment Management Inc. Has $385.70 Million Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Key Points

• Charles Schwab Investment Management Inc. increased its position in Air Products and Chemicals by 1.5%, owning approximately 1,307,807 shares worth $385.7 million as of the latest SEC filing.
• During the fourth quarter, several hedge funds made significant increases in their stakes, with Bank of America Corp raising its investment by 129.4% to own over 5.4 million shares valued at $1.57 billion.
• Air Products and Chemicals reported earnings of $3.09 per share, exceeding estimates, with a revenue of $3.02 billion for the quarter, reflecting a 1.2% year-over-year growth.

Charles Schwab Investment Management Inc. boosted its position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,307,807 shares of the basic materials company's stock after buying an additional 19,237 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.59% of Air Products and Chemicals worth $385,698,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Mantle Ridge LP acquired a new position in shares of Air Products and Chemicals in the 4th quarter valued at $1,191,344,000. Bank of America Corp DE lifted its stake in shares of Air Products and Chemicals by 129.4% in the 4th quarter. Bank of America Corp DE now owns 5,429,147 shares of the basic materials company's stock valued at $1,574,670,000 after purchasing an additional 3,062,157 shares during the period. Capital International Investors acquired a new position in shares of Air Products and Chemicals in the 4th quarter valued at $436,636,000. GAMMA Investing LLC lifted its stake in shares of Air Products and Chemicals by 31,752.0% in the 1st quarter. GAMMA Investing LLC now owns 1,249,871 shares of the basic materials company's stock valued at $368,612,000 after purchasing an additional 1,245,947 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Air Products and Chemicals by 159.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,725,762 shares of the basic materials company's stock valued at $508,962,000 after purchasing an additional 1,059,970 shares during the period. Institutional investors and hedge funds own 81.66% of the company's stock.

Air Products and Chemicals Stock Up 1.1%

Shares of NYSE APD traded up $3.31 during mid-day trading on Wednesday, hitting $292.58. The company had a trading volume of 299,557 shares, compared to its average volume of 1,316,866. Air Products and Chemicals, Inc. has a one year low of $243.69 and a one year high of $341.14. The company has a market capitalization of $65.11 billion, a PE ratio of 42.14, a price-to-earnings-growth ratio of 6.34 and a beta of 0.81. The firm has a 50-day simple moving average of $286.82 and a two-hundred day simple moving average of $288.85. The company has a current ratio of 1.29, a quick ratio of 1.12 and a debt-to-equity ratio of 0.93.

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

Air Products and Chemicals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Wednesday, October 1st will be paid a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 2.4%. The ex-dividend date is Wednesday, October 1st. Air Products and Chemicals's dividend payout ratio (DPR) is 103.02%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on APD. Citigroup increased their price target on Air Products and Chemicals from $310.00 to $320.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Mizuho upped their price objective on shares of Air Products and Chemicals from $310.00 to $325.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Morgan Stanley started coverage on shares of Air Products and Chemicals in a research report on Thursday, May 29th. They issued an "equal weight" rating and a $290.00 price objective for the company. Wells Fargo & Company upped 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 report on Monday, July 14th. Finally, Bank of America cut Air Products and Chemicals from a "neutral" rating to an "underperform" rating and lowered their target price for the stock from $330.00 to $282.00 in a report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $335.07.

Insider Transactions at Air Products and Chemicals

In related 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 value of $397,344.42. Following the completion of the sale, the vice president directly owned 8,686 shares in the company, valued at approximately $2,539,612.68. This trade represents a 13.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.