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Syntax Research Inc. Decreases Position in Air Products and Chemicals, Inc. (NYSE:APD)

Air Products and Chemicals logo with Basic Materials background

Key Points

  • Syntax Research Inc. significantly reduced its stake in Air Products and Chemicals by selling 6,102 shares, now holding only 2,020 shares valued at approximately $596,000.
  • Despite losses in earnings reported, with $2.69 EPS falling short of the expected $2.83, several institutions have increased their investments in Air Products and Chemicals, including a notable 1,404.7% increase from Phoenix Financial Ltd.
  • The company has announced a quarterly dividend of $1.79, reflecting an annualized yield of 2.41%, with a payout ratio exceeding 104%.
  • Five stocks to consider instead of Air Products and Chemicals.

Syntax Research Inc. lessened its holdings in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 75.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,020 shares of the basic materials company's stock after selling 6,102 shares during the period. Syntax Research Inc.'s holdings in Air Products and Chemicals were worth $596,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in APD. Wayfinding Financial LLC purchased a new stake in Air Products and Chemicals in the 1st quarter valued at about $25,000. Citizens National Bank Trust Department increased its stake in shares of Air Products and Chemicals by 833.3% during the 1st quarter. Citizens National Bank Trust Department now owns 112 shares of the basic materials company's stock worth $33,000 after purchasing an additional 100 shares during the last quarter. Sunbelt Securities Inc. increased its stake in shares of Air Products and Chemicals by 525.9% during the 4th quarter. Sunbelt Securities Inc. now owns 169 shares of the basic materials company's stock worth $49,000 after purchasing an additional 142 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Air Products and Chemicals during the 4th quarter worth approximately $50,000. Finally, Physician Wealth Advisors Inc. purchased a new stake in shares of Air Products and Chemicals during the 4th quarter worth approximately $51,000. Institutional investors and hedge funds own 81.66% of the company's stock.

Air Products and Chemicals Price Performance

NYSE:APD traded down $1.30 during trading hours on Tuesday, hitting $294.27. The stock had a trading volume of 256,760 shares, compared to its average volume of 1,339,502. The company has a 50 day simple moving average of $283.63 and a two-hundred day simple moving average of $290.72. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.00 and a quick ratio of 0.85. Air Products and Chemicals, Inc. has a one year low of $243.69 and a one year high of $341.14. The firm has a market capitalization of $65.49 billion, a price-to-earnings ratio of 42.77, a P/E/G ratio of 5.74 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The basic materials company reported $2.69 earnings per share (EPS) 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 company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the prior year, the firm posted $2.85 earnings per share. The business's revenue was down .5% on a year-over-year basis. Research analysts forecast 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, November 10th. Stockholders 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 dividend yield of 2.43%. The ex-dividend date of this dividend is Wednesday, October 1st. Air Products and Chemicals's dividend payout ratio is currently 104.07%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Bank of America lowered shares of Air Products and Chemicals from a "neutral" rating to an "underperform" rating and decreased their price target for the stock from $330.00 to $282.00 in a research note on Tuesday, April 15th. UBS Group raised 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 research note on Wednesday, July 9th. Morgan Stanley started coverage on shares of Air Products and Chemicals in a report on Thursday, May 29th. They issued an "equal weight" rating and a $290.00 price objective for the company. Citigroup raised their price objective on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Finally, Mizuho raised their price objective on shares of Air Products and Chemicals from $310.00 to $325.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $334.75.

Get Our Latest Analysis on Air Products and Chemicals

About Air Products and Chemicals

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Air Products and Chemicals (NYSE:APD)

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