Zions Bancorporation National Association UT Buys Shares of 4,822 Air Products and Chemicals, Inc. (NYSE:APD)

Key Points

• Zions Bancorporation National Association UT acquired 4,822 shares of Air Products and Chemicals, Inc., valued at approximately $1.42 million, highlighting growing institutional interest in the company.
• Air Products recently reported earnings per share of $3.09 for the last quarter, exceeding analysts' estimates, with revenues increasing by 1.2% year-over-year.
• The company declared a quarterly dividend of $1.79 per share, representing an annualized yield of 2.5%, with a stated dividend payout ratio of over 103%.

Zions Bancorporation National Association UT acquired a new stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,822 shares of the basic materials company's stock, valued at approximately $1,422,000.

A number of other institutional investors have also recently bought and sold shares of the company. Baker Avenue Asset Management LP lifted its stake in Air Products and Chemicals by 2.3% in the 4th quarter. Baker Avenue Asset Management LP now owns 1,540 shares of the basic materials company's stock valued at $447,000 after purchasing an additional 34 shares during the last quarter. West Branch Capital LLC lifted its position in shares of Air Products and Chemicals by 10.2% in the first quarter. West Branch Capital LLC now owns 421 shares of the basic materials company's stock valued at $124,000 after buying an additional 39 shares during the last quarter. Kathmere Capital Management LLC boosted its stake in shares of Air Products and Chemicals by 2.6% during the 1st quarter. Kathmere Capital Management LLC now owns 1,541 shares of the basic materials company's stock worth $454,000 after acquiring an additional 39 shares during the period. Ferguson Wellman Capital Management Inc. increased its holdings in shares of Air Products and Chemicals by 1.6% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 2,499 shares of the basic materials company's stock worth $737,000 after acquiring an additional 40 shares during the last quarter. Finally, Stableford Capital II LLC raised its stake 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. Institutional investors and hedge funds own 81.66% of the company's stock.

Air Products and Chemicals Trading Down 1.3%

Shares of Air Products and Chemicals stock traded down $3.88 on Thursday, hitting $290.33. 470,426 shares of the company's stock traded hands, compared to its average volume of 1,315,306. The company has a market capitalization of $64.61 billion, a price-to-earnings ratio of 41.75, a price-to-earnings-growth ratio of 6.46 and a beta of 0.81. The company has a fifty day moving average of $287.09 and a two-hundred day moving average of $288.89. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.29 and a quick ratio of 1.12. Air Products and Chemicals, Inc. has a one year low of $243.69 and a one year high of $341.14.

Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The basic materials company reported $3.09 EPS for the quarter, topping analysts' consensus estimates of $2.99 by $0.10. The business had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $2.95 billion. Air Products and Chemicals had a net margin of 12.86% and a return on equity of 15.11%. The business's quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the company posted $3.20 earnings per share. As a group, sell-side 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Wednesday, October 1st will be given a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, October 1st. Air Products and Chemicals's dividend payout ratio is presently 103.02%.

Insider Transactions at Air Products and Chemicals

In other news, VP Victoria Brifo sold 1,359 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $292.38, for a total transaction of $397,344.42. Following the completion of the transaction, the vice president owned 8,686 shares in the company, valued at approximately $2,539,612.68. This represents a 13.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.41% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on APD. Citigroup raised their target price on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Morgan Stanley started 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 objective for the company. Royal Bank Of Canada initiated 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. Mizuho lifted their price target on Air Products and Chemicals from $310.00 to $325.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Finally, Barclays lowered their price objective 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. One analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $335.07.

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.