Confluence Investment Management LLC Raises Position in Air Products and Chemicals, Inc. (NYSE:APD)

Confluence Investment Management LLC grew its position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 128.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 206,654 shares of the basic materials company's stock after purchasing an additional 116,139 shares during the period. Confluence Investment Management LLC owned about 0.09% of Air Products and Chemicals worth $60,946,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Fire Capital Management LLC acquired a new stake in Air Products and Chemicals in the fourth quarter worth $715,000. Wellington Management Group LLP raised its holdings in Air Products and Chemicals by 36.6% in the fourth quarter. Wellington Management Group LLP now owns 8,775 shares of the basic materials company's stock worth $2,545,000 after purchasing an additional 2,352 shares during the period. Chancellor Financial Group WB LP acquired a new stake in Air Products and Chemicals in the fourth quarter worth $220,000. 111 Capital acquired a new stake in Air Products and Chemicals in the fourth quarter worth $661,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Air Products and Chemicals by 56.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 367,858 shares of the basic materials company's stock worth $106,694,000 after purchasing an additional 132,639 shares during the period. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Air Products and Chemicals Stock Performance

Shares of NYSE:APD traded up $5.82 during trading on Friday, hitting $278.99. 2,872,928 shares of the company were exchanged, compared to its average volume of 1,448,278. The company has a market cap of $62.09 billion, a PE ratio of 16.20, a P/E/G ratio of 3.07 and a beta of 0.88. The stock has a 50 day moving average of $271.94 and a 200 day moving average of $297.44. 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 0.71, a current ratio of 1.11 and a quick ratio of 0.96.

Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its earnings results 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). Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. The company had revenue of $2.92 billion for the quarter, compared to analysts' expectations of $2.94 billion. During the same quarter in the prior year, the company earned $2.85 EPS. The company's revenue was down .5% on a year-over-year basis. As a group, equities research analysts predict that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Announces Dividend

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 given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Tuesday, July 1st. Air Products and Chemicals's dividend payout ratio (DPR) is currently 104.07%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. BNP Paribas upgraded shares of Air Products and Chemicals to a "strong-buy" rating in a report on Tuesday, February 11th. 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. BMO Capital Markets cut Air Products and Chemicals from an "outperform" rating to a "market perform" rating in a report on Friday, February 7th. Wall Street Zen cut Air Products and Chemicals from a "hold" rating to a "sell" rating in a report on Friday, February 7th. Finally, Citigroup lowered their target price on Air Products and Chemicals from $373.00 to $345.00 and set a "buy" rating for the company in a report on Tuesday, March 25th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $331.00.

Insider Activity

In other news, VP Walter L. Nelson sold 589 shares of the firm's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $308.50, for a total transaction of $181,706.50. Following the sale, the vice president now owns 719 shares in the company, valued at approximately $221,811.50. This trade represents a 45.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate 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.