Pacific Heights Asset Management LLC Acquires 2,000 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Pacific Heights Asset Management LLC grew its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 3.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,000 shares of the basic materials company's stock after buying an additional 2,000 shares during the period. Air Products and Chemicals accounts for approximately 1.2% of Pacific Heights Asset Management LLC's holdings, making the stock its 21st biggest 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 quarter.

Other hedge funds have also recently modified their holdings of the company. Parvin Asset Management LLC bought a new stake in shares of Air Products and Chemicals during the 4th quarter valued at $715,000. Ritholtz Wealth Management raised its position in shares of Air Products and Chemicals by 20.9% in the 1st quarter. Ritholtz Wealth Management now owns 1,603 shares of the basic materials company's stock worth $473,000 after purchasing an additional 277 shares during the last quarter. Mantle Ridge LP purchased a new position in shares of Air Products and Chemicals in the 4th quarter worth about $1,191,344,000. Proficio Capital Partners LLC purchased a new position in shares of Air Products and Chemicals in the 4th quarter worth about $246,000. Finally, Allstate Corp purchased a new position in shares of Air Products and Chemicals in the 4th quarter worth about $1,917,000. Institutional investors own 81.66% of the company's stock.

Air Products and Chemicals Stock Performance

Shares of NYSE APD traded up $1.54 during midday trading on Friday, hitting $291.84. 682,381 shares of the company's stock traded hands, compared to its average volume of 1,372,195. Air Products and Chemicals, Inc. has a 1 year low of $243.69 and a 1 year high of $341.14. The stock has a market capitalization of $64.95 billion, a price-to-earnings ratio of 42.42, a price-to-earnings-growth ratio of 5.60 and a beta of 0.85. 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 firm has a fifty day moving average of $276.82 and a 200 day moving average of $290.34.

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 EPS for the quarter, missing the consensus estimate 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 business had revenue of $2.92 billion for the quarter, compared to analysts' expectations of $2.94 billion. During the same period in the previous year, the company earned $2.85 EPS. Air Products and Chemicals's revenue for the quarter was down .5% compared to the same quarter last year. On average, analysts forecast that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Tuesday, July 1st will be paid a dividend of $1.79 per share. The ex-dividend date of this dividend 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 presently 104.07%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on APD. Morgan Stanley began coverage on Air Products and Chemicals in a research report on Thursday, May 29th. They issued an "equal weight" rating and a $290.00 price target for the company. Barclays lowered their price target on Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. UBS Group lowered their price target 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. Royal Bank Of Canada began coverage on Air Products and Chemicals in a research report on Friday, June 13th. They issued an "outperform" rating and a $355.00 price target for the company. Finally, Citigroup lifted their price target on 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. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company 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.