Navellier & Associates Inc. Makes New $618,000 Investment in Air Products and Chemicals, Inc. (NYSE:APD)

Key Points

• Navellier & Associates Inc. acquired a new stake in Air Products and Chemicals, buying 2,271 shares valued at approximately $618,000 during the first quarter.
• Air Products and Chemicals reported an EPS of $2.69 for the most recent quarter, missing expectations by $0.14, with a revenue of $2.92 billion, slightly below analyst estimates.
• The company declared a quarterly dividend of $1.79, set to be paid on November 10, representing an annualized dividend of $7.16 and a dividend yield of 2.39%.

Navellier & Associates Inc. acquired a new position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,271 shares of the basic materials company's stock, valued at approximately $618,000.

Several other large investors also recently modified their holdings of APD. Parvin Asset Management LLC bought a new stake in Air Products and Chemicals in the fourth quarter valued at $715,000. Ritholtz Wealth Management increased its stake in Air Products and Chemicals by 20.9% in the first quarter. Ritholtz Wealth Management now owns 1,603 shares of the basic materials company's stock valued at $473,000 after purchasing an additional 277 shares in the last quarter. Mantle Ridge LP bought a new stake in Air Products and Chemicals in the fourth quarter valued at $1,191,344,000. Allstate Corp bought a new stake in Air Products and Chemicals in the fourth quarter valued at $1,917,000. Finally, GAMMA Investing LLC increased its stake in Air Products and Chemicals by 8.0% in the first quarter. GAMMA Investing LLC now owns 4,238 shares of the basic materials company's stock valued at $1,250,000 after purchasing an additional 314 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

APD has been the subject of several research analyst reports. Mizuho lifted their price target on shares of Air Products and Chemicals from $310.00 to $325.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Royal Bank Of Canada initiated coverage on shares of Air Products and Chemicals in a research note on Friday, June 13th. They issued an "outperform" rating and a $355.00 price target for the company. Morgan Stanley assumed coverage on shares of Air Products and Chemicals in a research note on Thursday, May 29th. They issued an "equal weight" rating and a $290.00 price target for the company. Citigroup lifted their price objective on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the company a "buy" rating in a report on Monday, June 30th. Finally, Wells Fargo & Company lifted their price objective on shares of Air Products and Chemicals from $320.00 to $345.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Air Products and Chemicals has a consensus rating of "Moderate Buy" and an average price target of $334.75.

Air Products and Chemicals Stock Down 0.9%

Shares of APD traded down $2.64 during trading hours on Wednesday, reaching $292.55. 192,173 shares of the stock traded hands, compared to its average volume of 1,334,078. The company has a current ratio of 1.00, a quick ratio of 0.85 and a debt-to-equity ratio of 0.85. The stock has a fifty day simple moving average of $284.02 and a 200 day simple moving average of $290.75. 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 market cap of $65.10 billion, a price-to-earnings ratio of 42.50, a PEG ratio of 5.67 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The basic materials company reported $2.69 earnings per share for the quarter, missing analysts' consensus estimates of $2.83 by ($0.14). Air Products and Chemicals had a net margin of 12.76% and a return on equity of 15.48%. 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 business earned $2.85 earnings per share. The firm's revenue for the quarter was down .5% on a year-over-year basis. On average, equities analysts forecast that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Wednesday, October 1st will be given a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 2.45%. The ex-dividend date is Wednesday, October 1st. Air Products and Chemicals's dividend 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.