Assetmark Inc. Acquires 4,580 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Key Points

• Assetmark Inc. increased its stake in Air Products and Chemicals, acquiring an additional 4,580 shares, leading to a total of 83,100 shares valued at approximately $24.5 million.
• Air Products and Chemicals reported a Q1 EPS of $2.69, missing analysts' expectations of $2.83, with revenues of $2.92 billion.
• Recently, the company declared a quarterly dividend of $1.79 per share, with an annualized yield of 2.39%, despite a 104.07% dividend payout ratio.

Assetmark Inc. grew its holdings in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 5.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 83,100 shares of the basic materials company's stock after acquiring an additional 4,580 shares during the period. Assetmark Inc.'s holdings in Air Products and Chemicals were worth $24,508,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in APD. Wayfinding Financial LLC bought a new stake in shares of Air Products and Chemicals during the 1st quarter valued at $25,000. Citizens National Bank Trust Department raised its position in shares of Air Products and Chemicals by 833.3% during the 1st quarter. Citizens National Bank Trust Department now owns 112 shares of the basic materials company's stock valued at $33,000 after purchasing an additional 100 shares during the period. Sunbelt Securities Inc. raised its position in shares of 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 valued at $49,000 after purchasing an additional 142 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in shares of Air Products and Chemicals during the 4th quarter valued at $50,000. Finally, Physician Wealth Advisors Inc. bought a new stake in shares of Air Products and Chemicals during the 4th quarter valued at $51,000. 81.66% of the stock is currently owned by institutional investors.

Air Products and Chemicals Trading Up 0.7%

Air Products and Chemicals stock traded up $2.02 during trading hours on Friday, hitting $299.24. The company had a trading volume of 712,968 shares, compared to its average volume of 934,368. The firm has a market cap of $66.59 billion, a P/E ratio of 43.49, a P/E/G ratio of 5.74 and a beta of 0.85. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.85 and a current ratio of 1.00. Air Products and Chemicals, Inc. has a 1 year low of $243.69 and a 1 year high of $341.14. The company has a 50-day moving average price of $283.27 and a two-hundred day moving average price of $290.70.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released 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 company had revenue of $2.92 billion during the quarter, compared to analysts' expectations of $2.94 billion. Air Products and Chemicals had a net margin of 12.76% and a return on equity of 15.48%. Air Products and Chemicals's quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the firm earned $2.85 earnings per share. On average, sell-side analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Wednesday, October 1st will be given a $1.79 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $7.16 annualized dividend and a yield of 2.39%. Air Products and Chemicals's dividend payout ratio (DPR) is 104.07%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Mizuho raised 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. Citigroup raised their target price on shares of 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. Royal Bank Of Canada assumed 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. Morgan Stanley assumed coverage on shares of Air Products and Chemicals in a research note on Thursday, May 29th. They set an "equal weight" rating and a $290.00 target price for the company. Finally, 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. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $334.75.

About Air Products and Chemicals

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.