Friedenthal Financial Acquires Shares of 3,264 Air Products and Chemicals, Inc. (NYSE:APD)

Friedenthal Financial acquired a new stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 3,264 shares of the basic materials company's stock, valued at approximately $963,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. increased its position in Air Products and Chemicals by 1.8% in the fourth quarter. First Horizon Advisors Inc. now owns 1,742 shares of the basic materials company's stock worth $505,000 after buying an additional 31 shares during the last quarter. Lake Street Advisors Group LLC increased its position in Air Products and Chemicals by 1.6% in the fourth quarter. Lake Street Advisors Group LLC now owns 2,028 shares of the basic materials company's stock worth $588,000 after buying an additional 31 shares during the last quarter. WR Wealth Planners LLC increased its position in Air Products and Chemicals by 40.3% in the fourth quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company's stock worth $31,000 after buying an additional 31 shares during the last quarter. SRS Capital Advisors Inc. boosted its holdings in shares of Air Products and Chemicals by 3.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 974 shares of the basic materials company's stock worth $282,000 after acquiring an additional 33 shares during the period. Finally, Baker Avenue Asset Management LP boosted its holdings in shares of Air Products and Chemicals by 2.3% in the fourth quarter. Baker Avenue Asset Management LP now owns 1,540 shares of the basic materials company's stock worth $447,000 after acquiring an additional 34 shares during the period. 81.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on APD shares. Morgan Stanley started coverage on Air Products and Chemicals in a report on Thursday, May 29th. They issued an "equal weight" rating and a $290.00 price target for the company. Bank of America lowered Air Products and Chemicals from a "neutral" rating to an "underperform" rating and cut their price target for the stock from $330.00 to $282.00 in a report on Tuesday, April 15th. Royal Bank Of Canada started coverage on Air Products and Chemicals in a report on Friday, June 13th. They issued an "outperform" rating and a $355.00 price target for the company. Citigroup cut their price target on Air Products and Chemicals from $373.00 to $345.00 and set a "buy" rating for the company in a report on Tuesday, March 25th. Finally, Wells Fargo & Company dropped their price objective on Air Products and Chemicals from $365.00 to $320.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $332.41.

Air Products and Chemicals Stock Down 0.6%

APD opened at $275.32 on Thursday. The company has a market cap of $61.27 billion, a P/E ratio of 40.02, a P/E/G ratio of 5.32 and a beta of 0.86. The business's 50-day moving average price is $272.61 and its 200-day moving average price is $293.27. The company has a current ratio of 1.00, a quick ratio of 0.85 and a debt-to-equity ratio of 0.85. 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 released 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 company had revenue of $2.92 billion during the quarter, compared to analysts' expectations of $2.94 billion. Air Products and Chemicals had a return on equity of 15.48% and a net margin of 12.76%. The firm's quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.85 EPS. On average, equities analysts expect that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Stockholders 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 annualized dividend and a dividend yield of 2.60%. Air Products and Chemicals's dividend payout ratio is currently 104.07%.

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.

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