Patriot Financial Group Insurance Agency LLC Boosts Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Patriot Financial Group Insurance Agency LLC increased its position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 27.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,253 shares of the basic materials company's stock after buying an additional 1,132 shares during the quarter. Patriot Financial Group Insurance Agency LLC's holdings in Air Products and Chemicals were worth $1,549,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Parvin Asset Management LLC purchased a new position in shares of Air Products and Chemicals during the fourth quarter worth approximately $715,000. Kestra Investment Management LLC grew its position in Air Products and Chemicals by 44.2% during the 4th quarter. Kestra Investment Management LLC now owns 4,804 shares of the basic materials company's stock worth $1,393,000 after purchasing an additional 1,473 shares during the last quarter. Root Financial Partners LLC acquired a new position in Air Products and Chemicals in the fourth quarter valued at $267,000. Highview Capital Management LLC DE purchased a new stake in shares of Air Products and Chemicals in the fourth quarter valued at about $590,000. Finally, Mantle Ridge LP acquired a new stake in shares of Air Products and Chemicals during the fourth quarter worth about $1,191,344,000. Institutional investors and hedge funds own 81.66% of the company's stock.

Analyst Ratings Changes

APD has been the subject of several analyst reports. Wells Fargo & Company reduced their price objective on Air Products and Chemicals from $365.00 to $320.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Barclays decreased their price target on Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Morgan Stanley began 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 objective on the stock. Bank of America downgraded shares of Air Products and Chemicals from a "neutral" rating to an "underperform" rating and cut their price objective for the stock from $330.00 to $282.00 in a research report on Tuesday, April 15th. Finally, Citigroup lowered their target price on shares of Air Products and Chemicals from $373.00 to $345.00 and set a "buy" rating on the stock in a report on Tuesday, March 25th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $331.00.

Air Products and Chemicals Trading Up 1.3%

NYSE:APD opened at $279.94 on Monday. 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 quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. The stock has a fifty day simple moving average of $270.50 and a 200-day simple moving average of $295.70. The company has a market capitalization of $62.30 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 3.07 and a beta of 0.86.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The basic materials company reported $2.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.83 by ($0.14). Air Products and Chemicals had a net margin of 31.88% and a return on equity of 15.78%. The business had revenue of $2.92 billion during the quarter, compared to analysts' expectations of $2.94 billion. During the same period last year, the company earned $2.85 EPS. The firm's revenue for the quarter was down .5% on a year-over-year basis. On average, 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 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. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date is Tuesday, July 1st. Air Products and Chemicals's payout ratio is currently 104.07%.

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.

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