Hanson & Doremus Investment Management Grows Position in Air Products and Chemicals, Inc. (NYSE:APD)

Hanson & Doremus Investment Management lifted its position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 49.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,868 shares of the basic materials company's stock after purchasing an additional 1,944 shares during the quarter. Hanson & Doremus Investment Management's holdings in Air Products and Chemicals were worth $1,731,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

Several research firms have commented on APD. Morgan Stanley began coverage on Air Products and Chemicals in a report on Thursday, May 29th. They issued an "equal weight" rating and a $290.00 target price on the stock. Wells Fargo & Company dropped their target price on Air Products and Chemicals from $365.00 to $320.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Royal Bank of Canada began coverage on Air Products and Chemicals in a report on Friday. They issued an "outperform" rating and a $355.00 target price on the stock. Citigroup dropped their target price on Air Products and Chemicals from $373.00 to $345.00 and set a "buy" rating on the stock in a report on Tuesday, March 25th. Finally, Barclays dropped their target price on Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $332.41.

Air Products and Chemicals Price Performance

Shares of Air Products and Chemicals stock opened at $280.02 on Monday. The stock has a 50 day moving average of $271.69 and a 200 day moving average of $293.88. Air Products and Chemicals, Inc. has a 12 month low of $243.69 and a 12 month high of $341.14. The firm has a market cap of $62.32 billion, a PE ratio of 16.26, a PEG ratio of 3.07 and a beta of 0.86. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71.

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 EPS for the quarter, missing analysts' consensus estimates of $2.83 by ($0.14). Air Products and Chemicals had a net margin of 31.88% and a return on equity of 15.78%. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the previous year, the company posted $2.85 earnings per share. Air Products and Chemicals's quarterly revenue was down .5% on a year-over-year basis. On average, research analysts expect that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal 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 paid a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Tuesday, July 1st. Air Products and Chemicals's payout ratio is 104.07%.

About Air Products and Chemicals

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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