Air Products and Chemicals, Inc. (NYSE:APD) Shares Acquired by SPC Financial Inc.

Key Points

• SPC Financial Inc. increased its stake in Air Products and Chemicals by 48.7%, acquiring an additional 2,238 shares in the first quarter, which brought its total holdings to 6,837 shares valued at approximately $2,016,000.
• Air Products and Chemicals recently announced a quarterly dividend of $1.79 to be paid on November 10th, representing an annualized dividend of $7.16 and a yield of 2.5%.
• Analysts have issued a consensus rating of "Moderate Buy" for Air Products and Chemicals, with a consensus price target of $334.75, reflecting various upgrades from brokerages including Mizuho and UBS Group.

SPC Financial Inc. increased its position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 48.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,837 shares of the basic materials company's stock after purchasing an additional 2,238 shares during the quarter. SPC Financial Inc.'s holdings in Air Products and Chemicals were worth $2,016,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Dodge & Cox raised its stake in shares of Air Products and Chemicals by 1.0% in the 4th quarter. Dodge & Cox now owns 6,663,154 shares of the basic materials company's stock valued at $1,932,581,000 after buying an additional 64,960 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Air Products and Chemicals by 129.4% during the fourth quarter. Bank of America Corp DE now owns 5,429,147 shares of the basic materials company's stock worth $1,574,670,000 after buying an additional 3,062,157 shares during the period. Mantle Ridge LP acquired a new stake in Air Products and Chemicals in the 4th quarter valued at about $1,191,344,000. Northern Trust Corp raised its stake in Air Products and Chemicals by 4.6% in the 4th quarter. Northern Trust Corp now owns 3,583,156 shares of the basic materials company's stock worth $1,039,259,000 after purchasing an additional 156,419 shares in the last quarter. Finally, Royal Bank of Canada grew its position in Air Products and Chemicals by 1.5% during the 4th quarter. Royal Bank of Canada now owns 2,397,210 shares of the basic materials company's stock worth $695,287,000 after acquiring an additional 34,676 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company's stock.

Air Products and Chemicals Price Performance

Shares of APD stock traded up $5.25 during mid-day trading on Monday, reaching $287.00. The stock had a trading volume of 855,450 shares, compared to its average volume of 987,648. The company has a current ratio of 1.29, a quick ratio of 1.12 and a debt-to-equity ratio of 0.93. The business has a 50-day simple moving average of $285.05 and a 200 day simple moving average of $290.21. Air Products and Chemicals, Inc. has a 12-month low of $243.69 and a 12-month high of $341.14. The company has a market cap of $63.87 billion, a P/E ratio of 41.30, a price-to-earnings-growth ratio of 5.41 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its earnings results on Thursday, July 31st. The basic materials company reported $3.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.99 by $0.10. Air Products and Chemicals had a net margin of 12.86% and a return on equity of 15.11%. The firm had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the business earned $3.20 earnings per share. Air Products and Chemicals's revenue was up 1.2% compared to the same quarter last year. On average, 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Wednesday, October 1st will be issued a $1.79 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $7.16 dividend on an annualized basis and a yield of 2.5%. Air Products and Chemicals's dividend payout ratio is currently 103.02%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Barclays dropped their price objective on shares of Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Wall Street Zen raised shares of Air Products and Chemicals from a "sell" rating to a "hold" rating in a research report on Saturday. Mizuho lifted their target price on shares of Air Products and Chemicals from $310.00 to $325.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Bank of America downgraded Air Products and Chemicals from a "neutral" rating to an "underperform" rating and reduced their price objective for the company from $330.00 to $282.00 in a research note on Tuesday, April 15th. Finally, UBS Group boosted their price target on shares of Air Products and Chemicals from $328.00 to $344.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $334.75.

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.