Phoenix Financial Ltd. Has $3.13 Million Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Key Points

• Phoenix Financial Ltd. increased its holdings in Air Products and Chemicals by 1,404.7% in Q1, bringing its total shares to 10,593, valued at approximately $3.13 million.
• Air Products and Chemicals has received mixed ratings from analysts, with a consensus rating of "Moderate Buy" and a price target of $334.75, indicating potential growth.
• The company announced a quarterly dividend of $1.79, with a dividend yield of 2.39%, despite a payout ratio that currently exceeds 100%.

Phoenix Financial Ltd. lifted its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 1,404.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,593 shares of the basic materials company's stock after purchasing an additional 9,889 shares during the quarter. Phoenix Financial Ltd.'s holdings in Air Products and Chemicals were worth $3,126,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Baker Avenue Asset Management LP raised its position in shares of Air Products and Chemicals by 2.3% during the 4th quarter. Baker Avenue Asset Management LP now owns 1,540 shares of the basic materials company's stock worth $447,000 after purchasing an additional 34 shares during the period. West Branch Capital LLC increased its position in Air Products and Chemicals by 10.2% in the 1st quarter. West Branch Capital LLC now owns 421 shares of the basic materials company's stock valued at $124,000 after acquiring an additional 39 shares during the period. Kathmere Capital Management LLC increased its position in Air Products and Chemicals by 2.6% in the 1st quarter. Kathmere Capital Management LLC now owns 1,541 shares of the basic materials company's stock valued at $454,000 after acquiring an additional 39 shares during the period. Ferguson Wellman Capital Management Inc. increased its position in Air Products and Chemicals by 1.6% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 2,499 shares of the basic materials company's stock valued at $737,000 after acquiring an additional 40 shares during the period. Finally, Stableford Capital II LLC increased its position in Air Products and Chemicals by 1.3% in the 1st quarter. Stableford Capital II LLC now owns 3,222 shares of the basic materials company's stock valued at $950,000 after acquiring an additional 41 shares during the period. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Air Products and Chemicals Stock Performance

APD stock traded down $2.45 during trading on Wednesday, reaching $292.74. 385,802 shares of the stock were exchanged, compared to its average volume of 1,335,508. Air Products and Chemicals, Inc. has a twelve month low of $243.69 and a twelve month high of $341.14. The company has a market capitalization of $65.15 billion, a P/E ratio of 42.59, a price-to-earnings-growth ratio of 5.67 and a beta of 0.85. The stock has a 50 day simple moving average of $284.02 and a 200-day simple moving average of $290.75. The company has a current ratio of 1.00, a quick ratio of 0.85 and a debt-to-equity ratio of 0.85.

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 earnings per share for the quarter, missing analysts' consensus estimates 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 firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period last year, the business earned $2.85 earnings per share. The firm's quarterly revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts anticipate 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, November 10th. Shareholders of record on Wednesday, October 1st will be issued a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date is Wednesday, October 1st. Air Products and Chemicals's payout ratio is 104.07%.

Analyst Ratings Changes

Several research firms recently commented on APD. Barclays lowered their target price on 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. Mizuho raised their target price on Air Products and Chemicals from $310.00 to $325.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Bank of America cut Air Products and Chemicals from a "neutral" rating to an "underperform" rating and lowered their target price for the company from $330.00 to $282.00 in a research report on Tuesday, April 15th. Morgan Stanley began coverage on Air Products and Chemicals in a research report on Thursday, May 29th. They set an "equal weight" rating and a $290.00 price target on the stock. Finally, UBS Group lifted their price target on Air Products and Chemicals from $328.00 to $344.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $334.75.

Air Products and Chemicals Company 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.