Pacific Heights Asset Management LLC Has $17.70 Million Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Pacific Heights Asset Management LLC raised its position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 60,000 shares of the basic materials company's stock after buying an additional 2,000 shares during the quarter. Air Products and Chemicals comprises about 1.2% of Pacific Heights Asset Management LLC's portfolio, making the stock its 21st largest position. Pacific Heights Asset Management LLC's holdings in Air Products and Chemicals were worth $17,695,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of APD. Generali Investments Management Co LLC bought a new stake in shares of Air Products and Chemicals during the 4th quarter valued at approximately $26,000. Citizens National Bank Trust Department grew its holdings in shares of Air Products and Chemicals by 833.3% during the 1st quarter. Citizens National Bank Trust Department now owns 112 shares of the basic materials company's stock valued at $33,000 after purchasing an additional 100 shares during the last quarter. Lee Danner & Bass Inc. bought a new stake in shares of Air Products and Chemicals during the 4th quarter valued at approximately $44,000. Sunbelt Securities Inc. grew its holdings in shares of Air Products and Chemicals by 525.9% during the 4th quarter. Sunbelt Securities Inc. now owns 169 shares of the basic materials company's stock valued at $49,000 after purchasing an additional 142 shares during the last quarter. Finally, Physician Wealth Advisors Inc. acquired a new stake in Air Products and Chemicals during the 4th quarter worth approximately $51,000. 81.66% of the stock is owned by institutional investors.

Air Products and Chemicals Stock Up 0.5%

Shares of Air Products and Chemicals stock traded up $1.54 during trading on Friday, reaching $291.84. 682,381 shares of the company traded hands, compared to its average volume of 1,372,158. 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 1-year low of $243.69 and a 1-year high of $341.14. The company has a 50 day moving average price of $276.82 and a 200-day moving average price of $290.30. The firm has a market capitalization of $64.95 billion, a PE ratio of 42.42, a P/E/G ratio of 5.60 and a beta of 0.85.

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 earnings per share for the quarter, missing the consensus estimate of $2.83 by ($0.14). Air Products and Chemicals had a return on equity of 15.48% and a net margin of 12.76%. The business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the previous year, the company posted $2.85 EPS. The business's quarterly revenue was down .5% on a year-over-year basis. As a group, equities research analysts expect that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Announces Dividend

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. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $7.16 annualized dividend and a yield of 2.45%. Air Products and Chemicals's payout ratio is 104.07%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on APD shares. Wells Fargo & Company cut their target price on shares of Air Products and Chemicals from $365.00 to $320.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Citigroup lifted their target price on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Morgan Stanley started coverage on shares of Air Products and Chemicals in a research report on Thursday, May 29th. They set an "equal weight" rating and a $290.00 target price on the stock. Bank of America downgraded shares of Air Products and Chemicals from a "neutral" rating to an "underperform" rating and cut their target price for the stock from $330.00 to $282.00 in a research report on Tuesday, April 15th. Finally, Barclays cut 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 research report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $330.94.

About Air Products and Chemicals

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.