Contravisory Investment Management Inc. Invests $267,000 in Air Products and Chemicals, Inc. (NYSE:APD)

Contravisory Investment Management Inc. purchased a new stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 906 shares of the basic materials company's stock, valued at approximately $267,000.

Other hedge funds have also modified their holdings of the company. Generali Investments Management Co LLC acquired a new stake in shares of Air Products and Chemicals in the 4th quarter valued at $26,000. Sierra Ocean LLC acquired a new stake in Air Products and Chemicals in the fourth quarter worth about $30,000. WR Wealth Planners LLC raised its holdings 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 purchasing an additional 31 shares during the last quarter. Hager Investment Management Services LLC acquired a new position in Air Products and Chemicals during the 4th quarter valued at about $39,000. Finally, Financial Perspectives Inc boosted its stake in shares of Air Products and Chemicals by 33.3% in the 4th quarter. Financial Perspectives Inc now owns 140 shares of the basic materials company's stock valued at $41,000 after purchasing an additional 35 shares during the last quarter. 81.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on APD. Wells Fargo & Company cut their price objective on shares of Air Products and Chemicals from $365.00 to $320.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. BMO Capital Markets cut shares of Air Products and Chemicals from an "outperform" rating to a "market perform" rating in a research report on Friday, February 7th. UBS Group reduced their price target on 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. Barclays dropped their price objective on Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Finally, Bank of America lowered Air Products and Chemicals from a "neutral" rating to an "underperform" rating and cut their target price for the company from $330.00 to $282.00 in a research note on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, five have assigned 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, the company has an average rating of "Moderate Buy" and an average target price of $331.00.

Air Products and Chemicals Stock Up 1.3%

APD stock traded up $3.72 during mid-day trading on Friday, hitting $279.94. 1,078,622 shares of the company were exchanged, compared to its average volume of 1,444,760. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 1.11. Air Products and Chemicals, Inc. has a 1-year low of $243.69 and a 1-year high of $341.14. The firm's 50 day simple moving average is $270.77 and its 200 day simple moving average is $296.48. The firm has a market cap of $62.30 billion, a P/E ratio of 16.26, a P/E/G ratio of 3.07 and a beta of 0.88.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued 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 for the quarter, compared to the consensus estimate of $2.94 billion. Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. The firm's revenue was down .5% on a year-over-year basis. During the same period in the prior year, the company earned $2.85 EPS. On average, sell-side analysts predict that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Tuesday, July 1st will be issued a dividend of $1.79 per share. The ex-dividend date is Tuesday, July 1st. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.56%. Air Products and Chemicals's payout ratio is presently 104.07%.

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.