Jennison Associates LLC Acquires New Shares in Air Products and Chemicals, Inc. (NYSE:APD)

Jennison Associates LLC acquired a new stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,831 shares of the basic materials company's stock, valued at approximately $5,554,000.

Other large investors have also recently added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new position in Air Products and Chemicals in the first quarter valued at approximately $25,000. Citizens National Bank Trust Department lifted its stake in Air Products and Chemicals by 833.3% during the first quarter. Citizens National Bank Trust Department now owns 112 shares of the basic materials company's stock worth $33,000 after purchasing an additional 100 shares in the last quarter. Lee Danner & Bass Inc. acquired a new position in Air Products and Chemicals during the fourth quarter worth $44,000. Sunbelt Securities Inc. lifted its stake in Air Products and Chemicals by 525.9% during the fourth quarter. Sunbelt Securities Inc. now owns 169 shares of the basic materials company's stock worth $49,000 after purchasing an additional 142 shares in the last quarter. Finally, Physician Wealth Advisors Inc. acquired a new position in Air Products and Chemicals during the fourth quarter worth $51,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on APD. UBS Group upped their price target on Air Products and Chemicals from $328.00 to $344.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Morgan Stanley began coverage on Air Products and Chemicals in a research note on Thursday, May 29th. They set an "equal weight" rating and a $290.00 price target on the stock. Wells Fargo & Company upped their price target on Air Products and Chemicals from $320.00 to $345.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Mizuho upped their price objective on Air Products and Chemicals from $310.00 to $325.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Finally, Bank of America lowered Air Products and Chemicals from a "neutral" rating to an "underperform" rating and cut their price objective for the stock from $330.00 to $282.00 in a research report on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $331.53.

Air Products and Chemicals Stock Performance

NYSE:APD opened at $295.23 on Monday. The firm has a market capitalization of $65.70 billion, a PE ratio of 42.91, a price-to-earnings-growth ratio of 5.66 and a beta of 0.85. The business's fifty day moving average price is $281.02 and its 200 day moving average price is $290.26. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.00 and a quick 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 issued its quarterly earnings data on Thursday, May 1st. The basic materials company reported $2.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.83 by ($0.14). The firm had revenue of $2.92 billion for 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 business's revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.85 EPS. On average, sell-side analysts anticipate 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Wednesday, October 1st will be issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 2.43%. Air Products and Chemicals's payout ratio is 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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