NBC Securities Inc. Buys 1,736 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

NBC Securities Inc. boosted its holdings in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 173,600.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,737 shares of the basic materials company's stock after purchasing an additional 1,736 shares during the quarter. NBC Securities Inc.'s holdings in Air Products and Chemicals were worth $512,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of APD. Mantle Ridge LP acquired a new stake in Air Products and Chemicals in the 4th quarter valued at $1,191,344,000. Norges Bank acquired a new stake in Air Products and Chemicals in the 4th quarter valued at $919,721,000. Bank of America Corp DE grew its position in Air Products and Chemicals by 129.4% in the 4th quarter. Bank of America Corp DE now owns 5,429,147 shares of the basic materials company's stock valued at $1,574,670,000 after purchasing an additional 3,062,157 shares during the period. Raymond James Financial Inc. bought a new position in Air Products and Chemicals during the 4th quarter valued at $885,371,000. Finally, Capital International Investors bought a new position in Air Products and Chemicals during the 4th quarter valued at $436,636,000. Institutional investors and hedge funds own 81.66% of the company's stock.

Analyst Ratings Changes

APD has been the topic of several recent analyst reports. Wall Street Zen cut Air Products and Chemicals from a "hold" rating to a "sell" rating in a research note on Friday, February 7th. Citigroup dropped their price objective on Air Products and Chemicals from $373.00 to $345.00 and set a "buy" rating on the stock in a research note on Tuesday, March 25th. Morgan Stanley initiated 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 objective on the stock. Wells Fargo & Company dropped their price objective on Air Products and Chemicals from $365.00 to $320.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Finally, Bank of America cut Air Products and Chemicals from a "neutral" rating to an "underperform" rating and dropped their price objective for the company from $330.00 to $282.00 in a research note on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $331.00.

Air Products and Chemicals Stock Performance

NYSE APD traded up $3.72 during trading on Friday, hitting $279.94. 1,078,622 shares of the company's stock traded hands, compared to its average volume of 1,445,174. The stock has a market capitalization of $62.30 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 3.07 and a beta of 0.88. Air Products and Chemicals, Inc. has a 12-month low of $243.69 and a 12-month high of $341.14. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 1.11. The business has a 50 day moving average of $270.77 and a 200-day moving average of $296.48.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The basic materials company reported $2.69 EPS for the quarter, missing the consensus estimate of $2.83 by ($0.14). The business had revenue of $2.92 billion for the quarter, compared to analysts' expectations of $2.94 billion. Air Products and Chemicals had a net margin of 31.88% and a return on equity of 15.78%. Air Products and Chemicals's revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the company earned $2.85 earnings per share. As a group, equities research 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Tuesday, July 1st will be issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 2.56%. The ex-dividend date is Tuesday, July 1st. Air Products and Chemicals's dividend payout ratio (DPR) is presently 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.