Croban Acquires New Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Croban acquired a new position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,378 shares of the basic materials company's stock, valued at approximately $996,000.

A number of other hedge funds have also recently made changes to their positions in APD. Wayfinding Financial LLC purchased a new stake in Air Products and Chemicals during the first quarter valued at approximately $25,000. Generali Investments Management Co LLC bought a new position in Air Products and Chemicals in the fourth quarter worth approximately $26,000. Citizens National Bank Trust Department boosted its position in 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 acquiring an additional 100 shares in the last quarter. Lee Danner & Bass Inc. bought a new stake in Air Products and Chemicals during the 4th quarter valued at $44,000. Finally, Sunbelt Securities Inc. lifted its holdings 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 last quarter. Institutional investors own 81.66% of the company's stock.

Air Products and Chemicals Stock Down 0.7%

Shares of Air Products and Chemicals stock traded down $1.98 during midday trading on Friday, reaching $292.13. 1,042,263 shares of the company's stock traded hands, compared to its average volume of 1,360,700. The company has a market cap of $65.01 billion, a price-to-earnings ratio of 42.46, a price-to-earnings-growth ratio of 5.64 and a beta of 0.85. Air Products and Chemicals, Inc. has a 52 week low of $243.69 and a 52 week high of $341.14. The company's 50 day simple moving average is $278.81 and its 200 day simple moving average is $290.26. 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 (NYSE:APD - Get Free Report) last posted its quarterly 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). The company had revenue of $2.92 billion during the quarter, compared to analyst estimates 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 for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.85 earnings per share. Equities analysts expect that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Announces Dividend

The business also recently announced 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. The ex-dividend date is Tuesday, July 1st. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.45%. Air Products and Chemicals's payout ratio is 104.07%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on APD. Bank of America lowered 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. Royal Bank Of Canada initiated coverage on Air Products and Chemicals in a report on Friday, June 13th. They issued an "outperform" rating and a $355.00 price objective on the stock. Barclays lowered their target price on Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Wells Fargo & Company reduced their price target on shares of Air Products and Chemicals from $365.00 to $320.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Finally, Citigroup boosted their target price on Air Products and Chemicals from $310.00 to $320.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Two 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 company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $332.12.

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.