1,465 Shares in Air Products and Chemicals, Inc. (NYSE:APD) Purchased by Novem Group

Novem Group acquired a new stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,465 shares of the basic materials company's stock, valued at approximately $432,000.

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

Air Products and Chemicals Stock Up 0.5%

Shares of APD stock traded up $1.54 on Friday, hitting $291.84. The stock had a trading volume of 682,381 shares, compared to its average volume of 1,372,195. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.85 and a current ratio of 1.00. The stock's 50 day moving average is $276.33 and its 200-day moving average is $290.43. The firm has a market capitalization of $64.95 billion, a price-to-earnings ratio of 42.42, a P/E/G ratio of 5.57 and a beta of 0.85. 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 released its earnings results 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 12.76% and a return on equity of 15.48%. The business's quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the company posted $2.85 earnings per share. As a group, research analysts expect 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 declared a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Tuesday, July 1st will be issued a $1.79 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.45%. Air Products and Chemicals's dividend payout ratio (DPR) is 104.07%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on APD shares. Citigroup lifted their target price 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. UBS Group cut their price objective on Air Products and Chemicals from $335.00 to $324.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Barclays reduced their target price on shares of Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Wells Fargo & Company decreased their price objective on Air Products and Chemicals from $365.00 to $320.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Finally, Royal Bank Of Canada initiated coverage on shares of Air Products and Chemicals in a research note on Friday, June 13th. They set an "outperform" rating and a $355.00 price target on the stock. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $330.94.

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.