Envestnet Asset Management Inc. Grows Position in Air Products and Chemicals, Inc. (NYSE:APD)

Envestnet Asset Management Inc. boosted its position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 11.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 801,042 shares of the basic materials company's stock after acquiring an additional 83,932 shares during the period. Envestnet Asset Management Inc. owned 0.36% of Air Products and Chemicals worth $236,243,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Chilton Capital Management LLC grew its stake in shares of Air Products and Chemicals by 5.5% in the first quarter. Chilton Capital Management LLC now owns 4,015 shares of the basic materials company's stock worth $1,184,000 after purchasing an additional 211 shares during the last quarter. World Investment Advisors lifted its holdings in Air Products and Chemicals by 0.7% in the 1st quarter. World Investment Advisors now owns 41,571 shares of the basic materials company's stock worth $12,260,000 after buying an additional 282 shares during the period. Wayfinding Financial LLC bought a new stake in shares of Air Products and Chemicals in the 1st quarter worth approximately $25,000. Truist Financial Corp increased its stake in shares of Air Products and Chemicals by 9.2% during the first quarter. Truist Financial Corp now owns 118,148 shares of the basic materials company's stock valued at $34,844,000 after buying an additional 9,951 shares during the period. Finally, Impax Asset Management Group plc raised its holdings in shares of Air Products and Chemicals by 3.6% during the first quarter. Impax Asset Management Group plc now owns 11,110 shares of the basic materials company's stock valued at $3,277,000 after acquiring an additional 382 shares in the last quarter. Institutional investors own 81.66% of the company's stock.

Air Products and Chemicals Stock Up 0.5%

Shares of NYSE APD traded up $1.43 during trading on Wednesday, reaching $293.78. The company had a trading volume of 1,040,416 shares, compared to its average volume of 1,368,423. Air Products and Chemicals, Inc. has a 12-month low of $243.69 and a 12-month high of $341.14. The company has a quick ratio of 0.85, a current ratio of 1.00 and a debt-to-equity ratio of 0.85. The business's 50-day moving average is $277.64 and its 200 day moving average is $290.26. The stock has a market cap of $65.38 billion, a PE ratio of 42.70, a P/E/G ratio of 5.55 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The basic materials company reported $2.69 EPS for the quarter, missing the consensus estimate of $2.83 by ($0.14). The firm had revenue of $2.92 billion for 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%. The business's revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the company posted $2.85 earnings per share. As a group, equities analysts forecast that Air Products and Chemicals, Inc. will post 12.69 earnings per share 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 $1.79 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $7.16 dividend on an annualized basis and a yield of 2.44%. Air Products and Chemicals's payout ratio is currently 104.07%.

Wall Street Analysts Forecast Growth

APD has been the topic of several recent analyst reports. Royal Bank Of Canada initiated coverage on shares of Air Products and Chemicals in a report on Friday, June 13th. They issued an "outperform" rating and a $355.00 price target on the stock. Wells Fargo & Company cut their target price on shares of 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. Bank of America downgraded shares of Air Products and Chemicals from a "neutral" rating to an "underperform" rating and decreased their price target for the stock from $330.00 to $282.00 in a research note on Tuesday, April 15th. Morgan Stanley began coverage on Air Products and Chemicals in a research report on Thursday, May 29th. They set an "equal weight" rating and a $290.00 price objective on the stock. Finally, UBS Group increased their target price on Air Products and Chemicals from $328.00 to $344.00 and gave the stock a "buy" rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target 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.