Alpine Bank Wealth Management Purchases Shares of 3,605 Air Products and Chemicals, Inc. (NYSE:APD)

Alpine Bank Wealth Management purchased a new position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,605 shares of the basic materials company's stock, valued at approximately $1,063,000.

A number of other hedge funds have also made changes to their positions in APD. First Horizon Advisors Inc. increased 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 purchasing an additional 31 shares during the period. Lake Street Advisors Group LLC grew its position in Air Products and Chemicals by 1.6% during the fourth quarter. Lake Street Advisors Group LLC now owns 2,028 shares of the basic materials company's stock worth $588,000 after buying an additional 31 shares in the last quarter. WR Wealth Planners LLC increased its stake in Air Products and Chemicals by 40.3% during the 4th quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company's stock worth $31,000 after acquiring an additional 31 shares during the period. SRS Capital Advisors Inc. raised its holdings in Air Products and Chemicals by 3.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 974 shares of the basic materials company's stock valued at $282,000 after acquiring an additional 33 shares in the last quarter. Finally, Baker Avenue Asset Management LP grew its holdings in shares of Air Products and Chemicals by 2.3% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 81.66% of the company's stock.

Air Products and Chemicals Trading Up 0.4%

Shares of APD traded up $1.10 during mid-day trading on Thursday, reaching $283.10. 1,462,806 shares of the company were exchanged, compared to its average volume of 1,388,538. The business has a 50 day simple moving average of $273.68 and a two-hundred day simple moving average of $291.52. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.85 and a current ratio of 1.00. The stock has a market capitalization of $63.00 billion, a PE ratio of 41.15, a PEG ratio of 5.41 and a beta of 0.86. Air Products and Chemicals, Inc. has a 52 week low of $243.69 and a 52 week high of $341.14.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported $2.69 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.83 by ($0.14). Air Products and Chemicals had a return on equity of 15.48% and a net margin of 12.76%. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same quarter last year, the firm posted $2.85 EPS. The firm's revenue for the quarter was down .5% on a year-over-year basis. On average, analysts predict that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Tuesday, July 1st will be issued a dividend of $1.79 per share. The ex-dividend date of this dividend 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 payout ratio is currently 104.07%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Barclays reduced their price objective on shares of Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. UBS Group reduced 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 report on Friday, May 2nd. Morgan Stanley assumed coverage on shares of Air Products and Chemicals in a research report on Thursday, May 29th. They set an "equal weight" rating and a $290.00 price objective for the company. Royal Bank Of Canada began coverage on Air Products and Chemicals in a report on Friday, June 13th. They issued an "outperform" rating and a $355.00 target price on the stock. Finally, Bank of America downgraded Air Products and Chemicals from a "neutral" rating to an "underperform" rating and dropped their price objective for the stock from $330.00 to $282.00 in a research report on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $332.41.

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.