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

Envestnet Asset Management Inc. grew its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 11.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 about 0.36% of Air Products and Chemicals worth $236,243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Baker Avenue Asset Management LP grew its position in shares of Air Products and Chemicals by 2.3% during the 4th quarter. Baker Avenue Asset Management LP now owns 1,540 shares of the basic materials company's stock valued at $447,000 after acquiring an additional 34 shares during the period. Cyrus J. Lawrence LLC grew its position in shares of Air Products and Chemicals by 1.0% during the 4th quarter. Cyrus J. Lawrence LLC now owns 3,597 shares of the basic materials company's stock valued at $1,043,000 after acquiring an additional 37 shares during the period. CFO4Life Group LLC grew its position in shares of Air Products and Chemicals by 3.9% during the 4th quarter. CFO4Life Group LLC now owns 1,022 shares of the basic materials company's stock valued at $297,000 after acquiring an additional 38 shares during the period. West Branch Capital LLC grew its position in shares of Air Products and Chemicals by 10.2% during the 1st quarter. West Branch Capital LLC now owns 421 shares of the basic materials company's stock valued at $124,000 after acquiring an additional 39 shares during the period. Finally, Ferguson Wellman Capital Management Inc. boosted its holdings in Air Products and Chemicals by 1.6% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 2,499 shares of the basic materials company's stock worth $737,000 after buying an additional 40 shares during the period. Institutional investors own 81.66% of the company's stock.

Air Products and Chemicals Price Performance

Shares of NYSE APD traded down $1.98 during mid-day trading on Friday, hitting $292.13. 1,041,034 shares of the company's stock traded hands, compared to its average volume of 1,385,024. The company's 50-day moving average is $278.52 and its two-hundred day moving average is $290.29. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.00 and a quick ratio of 0.85. The company has a market capitalization of $65.01 billion, a P/E ratio of 42.46, a PEG ratio of 5.65 and a beta of 0.85. Air Products and Chemicals, Inc. has a 1 year low of $243.69 and a 1 year high of $341.14.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced 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). The business 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 firm's quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.85 earnings per share. On average, equities analysts anticipate 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 given a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date is Tuesday, July 1st. Air Products and Chemicals's dividend payout ratio (DPR) is currently 104.07%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Bank of America downgraded shares of Air Products and Chemicals from a "neutral" rating to an "underperform" rating and dropped their target price for the stock from $330.00 to $282.00 in a report on Tuesday, April 15th. Wells Fargo & Company dropped their target price on shares of Air Products and Chemicals from $365.00 to $320.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. UBS Group upped their target price on shares of Air Products and Chemicals from $328.00 to $344.00 and gave the stock a "buy" rating in a report on Wednesday. Barclays dropped their target price on shares of 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, Citigroup upped their target price on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Two equities research 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 stock. Based on 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.