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Fiduciary Family Office LLC Makes New $771,000 Investment in Air Products and Chemicals, Inc. (NYSE:APD)

Air Products and Chemicals logo with Basic Materials background

Key Points

  • Fiduciary Family Office LLC acquired a new stake in Air Products and Chemicals, purchasing 2,614 shares valued at approximately $771,000 during the first quarter.
  • Analysts have mixed views on Air Products and Chemicals, with target price changes, including Barclays lowering it to $325, and Wells Fargo raising it to $345, reflecting a consensus rating of "Moderate Buy".
  • The company announced a quarterly dividend of $1.79 per share, to be paid on November 10th, representing an annualized yield of 2.5%.
  • Want stock alerts on Air Products and Chemicals? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Fiduciary Family Office LLC bought a new stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,614 shares of the basic materials company's stock, valued at approximately $771,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Parvin Asset Management LLC purchased a new position in Air Products and Chemicals in the 4th quarter worth about $715,000. Ritholtz Wealth Management increased its stake in Air Products and Chemicals by 20.9% in the 1st quarter. Ritholtz Wealth Management now owns 1,603 shares of the basic materials company's stock worth $473,000 after buying an additional 277 shares during the period. Mantle Ridge LP purchased a new position in Air Products and Chemicals in the 4th quarter worth about $1,191,344,000. GAMMA Investing LLC increased its stake in Air Products and Chemicals by 8.0% in the 1st quarter. GAMMA Investing LLC now owns 4,238 shares of the basic materials company's stock worth $1,250,000 after buying an additional 314 shares during the period. Finally, Capital International Investors purchased a new position in Air Products and Chemicals in the 4th quarter worth about $436,636,000. Hedge funds and other institutional investors own 81.66% of the company's stock.

Insider Activity at Air Products and Chemicals

In related news, VP Victoria Brifo sold 1,359 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $292.38, for a total value of $397,344.42. Following the completion of the transaction, the vice president directly owned 8,686 shares of the company's stock, valued at $2,539,612.68. This trade represents a 13.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.41% of the stock is owned by insiders.

Air Products and Chemicals Stock Performance

Shares of Air Products and Chemicals stock traded down $4.69 during midday trading on Monday, hitting $284.05. The company had a trading volume of 1,115,147 shares, compared to its average volume of 948,619. The stock has a market cap of $63.21 billion, a price-to-earnings ratio of 40.87, a PEG ratio of 6.44 and a beta of 0.81. The company has a quick ratio of 1.12, a current ratio of 1.29 and a debt-to-equity ratio of 0.93. The company has a fifty day simple moving average of $286.70 and a 200 day simple moving average of $288.85. Air Products and Chemicals, Inc. has a 12-month low of $243.69 and a 12-month high of $341.14.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $3.09 EPS for the quarter, beating the consensus estimate of $2.99 by $0.10. The firm had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.95 billion. Air Products and Chemicals had a net margin of 12.86% and a return on equity of 15.11%. Air Products and Chemicals's revenue was up 1.2% on a year-over-year basis. During the same period last year, the firm posted $3.20 EPS. As a group, analysts predict 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Wednesday, October 1st will be given a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, October 1st. Air Products and Chemicals's dividend payout ratio (DPR) is presently 103.02%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Mizuho raised their price target on shares of Air Products and Chemicals from $310.00 to $325.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Morgan Stanley began coverage on shares of Air Products and Chemicals in a research note on Thursday, May 29th. They issued an "equal weight" rating and a $290.00 price target on the stock. Wall Street Zen upgraded shares of Air Products and Chemicals from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Citigroup increased their price objective on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Finally, Bank of America downgraded shares of Air Products and Chemicals from a "neutral" rating to an "underperform" rating and dropped their price objective for the company from $330.00 to $282.00 in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $335.07.

Check Out Our Latest Research Report on APD

Air Products and Chemicals Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Air Products and Chemicals (NYSE:APD)

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