Air Products and Chemicals, Inc. (NYSE:APD) Holdings Boosted by First Hawaiian Bank

First Hawaiian Bank increased its holdings in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 16.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,758 shares of the basic materials company's stock after buying an additional 1,400 shares during the period. First Hawaiian Bank's holdings in Air Products and Chemicals were worth $2,878,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mantle Ridge LP purchased a new stake in shares of Air Products and Chemicals in the fourth quarter valued at $1,191,344,000. Norges Bank purchased a new position in Air Products and Chemicals in the 4th quarter valued at about $919,721,000. Bank of America Corp DE lifted its holdings in Air Products and Chemicals by 129.4% in the 4th quarter. Bank of America Corp DE now owns 5,429,147 shares of the basic materials company's stock valued at $1,574,670,000 after purchasing an additional 3,062,157 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Air Products and Chemicals in the 4th quarter valued at about $885,371,000. Finally, Capital International Investors purchased a new position in Air Products and Chemicals in the 4th quarter valued at about $436,636,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Performance

Shares of APD stock traded up $5.82 on Friday, hitting $278.99. 2,872,928 shares of the stock traded hands, compared to its average volume of 1,448,278. The company has a market capitalization of $62.09 billion, a PE ratio of 16.20, a PEG ratio of 3.07 and a beta of 0.88. Air Products and Chemicals, Inc. has a 1-year low of $243.69 and a 1-year high of $341.14. The company's fifty day moving average is $271.94 and its 200 day moving average is $297.55. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 0.96.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The basic materials company reported $2.69 earnings per share for the quarter, missing analysts' consensus estimates of $2.83 by ($0.14). Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the previous year, the company posted $2.85 earnings per share. The firm's revenue for the quarter was down .5% compared to the same quarter last year. On average, equities research 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 firm also recently announced 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 annualized dividend and a yield of 2.57%. The ex-dividend date is Tuesday, July 1st. Air Products and Chemicals's dividend payout ratio is currently 104.07%.

Analysts Set New Price Targets

Several brokerages recently issued reports on APD. Wells Fargo & Company reduced 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 research note on Wednesday, April 9th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $320.00 price target (down previously from $345.00) on shares of Air Products and Chemicals in a research note on Friday, February 7th. Barclays reduced their price target on Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. BNP Paribas upgraded shares of Air Products and Chemicals to a "strong-buy" rating in a report on Tuesday, February 11th. Finally, UBS Group cut their target price 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. Two equities research 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 stock. According to MarketBeat, Air Products and Chemicals presently has a consensus rating of "Moderate Buy" and an average target price of $331.00.

Insider Activity

In related news, VP Walter L. Nelson sold 589 shares of Air Products and Chemicals stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $308.50, for a total transaction of $181,706.50. Following the transaction, the vice president now directly owns 719 shares of the company's stock, valued at $221,811.50. The trade was a 45.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.41% of the company's stock.

Air Products and Chemicals 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.