Sendero Wealth Management LLC Buys Shares of 1,009 Air Products and Chemicals, Inc. (NYSE:APD)

Sendero Wealth Management LLC purchased a new position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,009 shares of the basic materials company's stock, valued at approximately $298,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC increased its stake in shares of Air Products and Chemicals by 14.5% during the fourth quarter. Brighton Jones LLC now owns 3,260 shares of the basic materials company's stock valued at $945,000 after acquiring an additional 412 shares during the period. Chicago Partners Investment Group LLC boosted its stake in Air Products and Chemicals by 12.6% during the 4th quarter. Chicago Partners Investment Group LLC now owns 1,194 shares of the basic materials company's stock valued at $341,000 after purchasing an additional 134 shares in the last quarter. Spire Wealth Management increased its position in shares of Air Products and Chemicals by 6.9% during the 4th quarter. Spire Wealth Management now owns 2,257 shares of the basic materials company's stock valued at $655,000 after purchasing an additional 146 shares during the period. U.S. Capital Wealth Advisors LLC raised its stake in shares of Air Products and Chemicals by 2.4% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 2,478 shares of the basic materials company's stock worth $719,000 after buying an additional 58 shares in the last quarter. Finally, E. Ohman J or Asset Management AB lifted its holdings in shares of Air Products and Chemicals by 14.1% in the fourth quarter. E. Ohman J or Asset Management AB now owns 10,270 shares of the basic materials company's stock valued at $2,979,000 after buying an additional 1,270 shares during the period. Institutional investors own 81.66% of the company's stock.

Air Products and Chemicals Trading Up 1.3%

NYSE APD traded up $3.72 on Friday, hitting $279.94. 1,078,622 shares of the stock were exchanged, compared to its average volume of 1,444,760. The company's 50-day moving average price is $270.77 and its two-hundred day moving average price is $296.48. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 0.96. 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 market capitalization of $62.30 billion, a price-to-earnings ratio of 16.26, a P/E/G ratio of 3.07 and a beta of 0.88.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its 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). The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.94 billion. Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. The business's quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the business earned $2.85 EPS. Research analysts predict that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Tuesday, July 1st will be issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Tuesday, July 1st. Air Products and Chemicals's dividend payout ratio is currently 104.07%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. BMO Capital Markets lowered Air Products and Chemicals from an "outperform" rating to a "market perform" rating in a report on Friday, February 7th. Bank of America cut shares of Air Products and Chemicals from a "neutral" rating to an "underperform" rating and lowered their price objective for the stock from $330.00 to $282.00 in a research note on Tuesday, April 15th. BNP Paribas upgraded shares of Air Products and Chemicals to a "strong-buy" rating in a report on Tuesday, February 11th. Wells Fargo & Company reduced their target price on shares of Air Products and Chemicals from $365.00 to $320.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. restated a "neutral" rating and issued a $320.00 price target (down previously from $345.00) on shares of Air Products and Chemicals in a research report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $331.00.

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.