Chapin Davis Inc. Boosts Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Chapin Davis Inc. raised its position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 30.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,606 shares of the basic materials company's stock after purchasing an additional 2,222 shares during the quarter. Air Products and Chemicals accounts for 1.0% of Chapin Davis Inc.'s portfolio, making the stock its 22nd largest position. Chapin Davis Inc.'s holdings in Air Products and Chemicals were worth $2,833,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Generali Investments Management Co LLC acquired a new position in shares of Air Products and Chemicals during the 4th quarter worth approximately $26,000. WR Wealth Planners LLC boosted its holdings in Air Products and Chemicals by 40.3% in the 4th 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. Lee Danner & Bass Inc. acquired a new position in Air Products and Chemicals in the 4th quarter valued at about $44,000. Sunbelt Securities Inc. boosted its holdings in Air Products and Chemicals by 525.9% in 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 last quarter. Finally, Whipplewood Advisors LLC acquired a new position in Air Products and Chemicals in the 4th quarter valued at about $50,000. Hedge funds and other institutional investors own 81.66% of the company's stock.

Wall Street Analyst Weigh In

APD has been the topic of several recent analyst reports. UBS Group decreased their price objective on shares of Air Products and Chemicals from $335.00 to $324.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Barclays decreased their price target on 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. Royal Bank Of Canada started coverage on Air Products and Chemicals in a research note on Friday, June 13th. They set an "outperform" rating and a $355.00 price target on the stock. Wells Fargo & Company decreased their target price on Air Products and Chemicals from $365.00 to $320.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Finally, Bank of America lowered Air Products and Chemicals from a "neutral" rating to an "underperform" rating and decreased their target price for the stock from $330.00 to $282.00 in a research note on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $332.41.

Air Products and Chemicals Trading Down 1.6%

Air Products and Chemicals stock opened at $270.98 on Monday. Air Products and Chemicals, Inc. has a 52 week low of $243.69 and a 52 week high of $341.14. 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 $60.30 billion, a P/E ratio of 39.39, a PEG ratio of 5.19 and a beta of 0.86. The stock has a 50-day simple moving average of $272.94 and a 200 day simple moving average of $291.99.

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 for the quarter, missing analysts' consensus estimates of $2.83 by ($0.14). The firm 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 15.48% and a net margin of 12.76%. The business's revenue was down .5% on a year-over-year basis. During the same period last year, the company posted $2.85 EPS. Analysts expect 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 disclosed a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Tuesday, July 1st. Air Products and Chemicals's dividend payout ratio is currently 104.07%.

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.

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