World Equity Group Inc. Buys Shares of 1,175 Air Products and Chemicals, Inc. (NYSE:APD)

World Equity Group Inc. bought a new position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 1,175 shares of the basic materials company's stock, valued at approximately $347,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Air Products and Chemicals by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 21,485,176 shares of the basic materials company's stock worth $6,231,560,000 after purchasing an additional 207,404 shares during the period. Dodge & Cox raised its position in shares of Air Products and Chemicals by 1.0% during 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 during the period. Bank of America Corp DE raised its position in shares of Air Products and Chemicals by 129.4% during the 4th quarter. Bank of America Corp DE now owns 5,429,147 shares of the basic materials company's stock valued at $1,574,670,000 after buying an additional 3,062,157 shares during the period. Geode Capital Management LLC lifted its holdings in Air Products and Chemicals by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 4,931,661 shares of the basic materials company's stock valued at $1,430,354,000 after acquiring an additional 57,314 shares during the last quarter. Finally, Mantle Ridge LP purchased a new position in Air Products and Chemicals in the fourth quarter worth approximately $1,191,344,000. Hedge funds and other institutional investors own 81.66% of the company's stock.

Air Products and Chemicals Stock Performance

NYSE APD opened at $270.98 on Friday. The company has a fifty day moving average of $272.94 and a two-hundred day moving average of $292.20. The company has a market capitalization of $60.30 billion, a PE ratio of 39.39, a P/E/G ratio of 5.19 and a beta of 0.86. Air Products and Chemicals, Inc. has a 1 year low of $243.69 and a 1 year high of $341.14. 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 (NYSE:APD - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $2.92 billion for the quarter, compared to analysts' expectations of $2.94 billion. During the same quarter in the prior year, the business earned $2.85 EPS. The company's quarterly revenue was down .5% compared to the same quarter last year. As a group, analysts expect that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Tuesday, July 1st will be paid a dividend of $1.79 per share. The ex-dividend date is Tuesday, July 1st. This represents a $7.16 annualized dividend and a dividend yield of 2.64%. Air Products and Chemicals's dividend payout ratio (DPR) is 104.07%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Royal Bank Of Canada assumed coverage on Air Products and Chemicals in a research report on Friday, June 13th. They issued an "outperform" rating and a $355.00 target price on the stock. Wells Fargo & Company reduced their price objective on shares of Air Products and Chemicals from $365.00 to $320.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Citigroup lowered their target price on shares of Air Products and Chemicals from $373.00 to $345.00 and set a "buy" rating for the company in a research note on Tuesday, March 25th. Morgan Stanley assumed coverage on shares of Air Products and Chemicals in a research report on Thursday, May 29th. They set an "equal weight" rating and a $290.00 price target for the company. Finally, UBS Group reduced their price target on shares of Air Products and Chemicals from $335.00 to $324.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Air Products and Chemicals presently has a consensus rating of "Moderate Buy" and an average target price of $332.41.

About Air Products and Chemicals

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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