Perennial Advisors LLC Acquires 3,806 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Perennial Advisors LLC increased its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 14.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,340 shares of the basic materials company's stock after acquiring an additional 3,806 shares during the quarter. Air Products and Chemicals makes up about 1.8% of Perennial Advisors LLC's holdings, making the stock its 18th largest position. Perennial Advisors LLC's holdings in Air Products and Chemicals were worth $8,948,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. First Horizon Advisors Inc. boosted its stake in shares of Air Products and Chemicals by 1.8% in the 4th quarter. First Horizon Advisors Inc. now owns 1,742 shares of the basic materials company's stock worth $505,000 after buying an additional 31 shares during the last quarter. Lake Street Advisors Group LLC boosted its stake in shares of Air Products and Chemicals by 1.6% in the 4th quarter. Lake Street Advisors Group LLC now owns 2,028 shares of the basic materials company's stock worth $588,000 after buying an additional 31 shares during the last quarter. WR Wealth Planners LLC boosted its stake in shares of Air Products and Chemicals by 40.3% in the 4th quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company's stock worth $31,000 after buying an additional 31 shares during the last quarter. SRS Capital Advisors Inc. boosted its stake in shares of Air Products and Chemicals by 3.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 974 shares of the basic materials company's stock worth $282,000 after buying an additional 33 shares during the last quarter. Finally, Baker Avenue Asset Management LP boosted its stake in shares of Air Products and Chemicals by 2.3% in the 4th quarter. Baker Avenue Asset Management LP now owns 1,540 shares of the basic materials company's stock worth $447,000 after buying an additional 34 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors.

Air Products and Chemicals Trading Up 1.3%

APD opened at $279.94 on Friday. The stock has a market cap of $62.30 billion, a price-to-earnings ratio of 16.26, a P/E/G ratio of 3.07 and a beta of 0.86. The stock's 50 day moving average price is $270.50 and its 200-day moving average price is $295.93. Air Products and Chemicals, Inc. has a one year low of $243.69 and a one year 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.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.94 billion. Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. The firm'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 EPS. On average, equities analysts forecast that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Stockholders 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 dividend yield of 2.56%. Air Products and Chemicals's dividend payout ratio is presently 104.07%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Bank of America downgraded Air Products and Chemicals from a "neutral" rating to an "underperform" rating and dropped their price target for the stock from $330.00 to $282.00 in a research note on Tuesday, April 15th. Citigroup dropped their price target 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. BNP Paribas upgraded Air Products and Chemicals to a "strong-buy" rating in a research report on Tuesday, February 11th. Wells Fargo & Company lowered their target price on 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. Finally, Morgan Stanley started coverage on 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. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $331.00.

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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