Janney Montgomery Scott LLC Acquires 85,671 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Janney Montgomery Scott LLC increased its holdings in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 38.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 307,694 shares of the basic materials company's stock after acquiring an additional 85,671 shares during the quarter. Janney Montgomery Scott LLC owned about 0.14% of Air Products and Chemicals worth $90,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Parvin Asset Management LLC bought a new position in shares of Air Products and Chemicals in the 4th quarter worth about $715,000. Kestra Investment Management LLC increased its stake in shares of Air Products and Chemicals by 44.2% in the 4th quarter. Kestra Investment Management LLC now owns 4,804 shares of the basic materials company's stock worth $1,393,000 after acquiring an additional 1,473 shares in the last quarter. Highview Capital Management LLC DE bought a new position in shares of Air Products and Chemicals in the 4th quarter worth about $590,000. Mantle Ridge LP bought a new position in shares of Air Products and Chemicals in the 4th quarter worth about $1,191,344,000. Finally, Congress Asset Management Co. increased its stake in shares of Air Products and Chemicals by 251.8% in the 4th quarter. Congress Asset Management Co. now owns 7,737 shares of the basic materials company's stock worth $2,244,000 after acquiring an additional 5,538 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors.

Air Products and Chemicals Stock Performance

Shares of NYSE APD opened at $280.02 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. The company 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 firm's 50-day moving average price is $271.69 and its 200-day moving average price is $293.88. Air Products and Chemicals, Inc. has a 52-week low of $243.69 and a 52-week high of $341.14.

Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The basic materials company reported $2.69 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.83 by ($0.14). The business 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 15.78% and a net margin of 31.88%. The business's quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.85 EPS. As a group, analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Tuesday, July 1st will be issued a $1.79 dividend. This represents a $7.16 dividend on an annualized basis 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%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on APD shares. UBS Group reduced their price objective on shares of Air Products and Chemicals from $335.00 to $324.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Royal Bank of Canada started coverage on shares of Air Products and Chemicals in a research note on Friday. They set an "outperform" rating and a $355.00 price objective for the company. Barclays reduced their price objective on shares of 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. 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 for the company in a research note on Wednesday, April 9th. Finally, Morgan Stanley started coverage on shares of Air Products and Chemicals in a research note on Thursday, May 29th. They set an "equal weight" rating and a $290.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $332.41.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.