Haverford Financial Services Inc. Grows Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Key Points

• Haverford Financial Services Inc. increased its stake in Air Products and Chemicals by 11.5% during the first quarter, acquiring an additional 2,388 shares, bringing its total holdings to 23,086 shares valued at approximately $6.81 million.
• Air Products and Chemicals recently declared a quarterly dividend of $1.79 per share, with a dividend yield of 2.5%, signaling a strong commitment to returning capital to shareholders.
• Analysts have varying outlooks on Air Products and Chemicals, with target price increases from firms like Wells Fargo, UBS Group, and Citigroup, but a consensus rating of "Moderate Buy" with an average price target of about $334.75.

Haverford Financial Services Inc. increased its holdings in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 11.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,086 shares of the basic materials company's stock after acquiring an additional 2,388 shares during the period. Air Products and Chemicals comprises approximately 2.1% of Haverford Financial Services Inc.'s portfolio, making the stock its 23rd biggest holding. Haverford Financial Services Inc.'s holdings in Air Products and Chemicals were worth $6,809,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Allianz SE increased its holdings in shares of Air Products and Chemicals by 189.1% in the 1st quarter. Allianz SE now owns 2,255 shares of the basic materials company's stock worth $665,000 after buying an additional 1,475 shares during the last quarter. Commonwealth Equity Services LLC grew its position in Air Products and Chemicals by 4.1% in the first quarter. Commonwealth Equity Services LLC now owns 157,107 shares of the basic materials company's stock worth $46,334,000 after acquiring an additional 6,188 shares in the last quarter. Blair William & Co. IL raised its position in Air Products and Chemicals by 1.1% during the first quarter. Blair William & Co. IL now owns 104,256 shares of the basic materials company's stock valued at $30,747,000 after purchasing an additional 1,131 shares in the last quarter. Argent Trust Co lifted its stake in Air Products and Chemicals by 5.2% during the first quarter. Argent Trust Co now owns 15,578 shares of the basic materials company's stock worth $4,594,000 after purchasing an additional 769 shares during the last quarter. Finally, Manchester Capital Management LLC boosted its holdings in shares of Air Products and Chemicals by 31.5% in the 1st quarter. Manchester Capital Management LLC now owns 2,786 shares of the basic materials company's stock worth $822,000 after purchasing an additional 668 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

APD has been the subject of a number of recent research reports. Bank of America downgraded 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 research report on Tuesday, April 15th. Morgan Stanley began coverage on shares of Air Products and Chemicals in a report on Thursday, May 29th. They issued an "equal weight" rating and a $290.00 price objective for the company. Mizuho increased their target price on shares of Air Products and Chemicals from $310.00 to $325.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Citigroup boosted their price target on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Finally, Barclays lowered their target price on Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Air Products and Chemicals presently has a consensus rating of "Moderate Buy" and a consensus price target of $335.07.

Air Products and Chemicals Stock Down 1.1%

Shares of Air Products and Chemicals stock traded down $3.29 during trading on Wednesday, hitting $289.19. The company's stock had a trading volume of 560,633 shares, compared to its average volume of 971,681. Air Products and Chemicals, Inc. has a 52 week low of $243.69 and a 52 week high of $341.14. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.12 and a current ratio of 1.29. The company has a fifty day simple moving average of $285.75 and a two-hundred day simple moving average of $290.01. The company has a market capitalization of $64.36 billion, a PE ratio of 41.61, a P/E/G ratio of 6.53 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The basic materials company reported $3.09 earnings per share for the quarter, topping the consensus estimate of $2.99 by $0.10. Air Products and Chemicals had a return on equity of 15.11% and a net margin of 12.86%. The company had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the business posted $3.20 EPS. The firm's quarterly revenue was up 1.2% compared to the same quarter last year. Equities research analysts predict that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Wednesday, October 1st will be paid a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Wednesday, October 1st. Air Products and Chemicals's dividend payout ratio is currently 103.02%.

Insider Activity

In related news, VP Victoria Brifo sold 1,359 shares of the business's 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 in the company, valued at $2,539,612.68. The trade was a 13.53% decrease in their position. The sale 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.

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.