Zurcher Kantonalbank Zurich Cantonalbank Grows Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Key Points

• Zurcher Kantonalbank increased its holdings in Air Products and Chemicals by 5.0%, bringing its total shares to 92,015, worth approximately $27.1 million.
• Air Products reported Q1 earnings of $2.69 per share, missing expectations of $2.83, with revenues of $2.92 billion, down 0.5% year-over-year.
• The company declared a quarterly dividend of $1.79 per share, with an ex-dividend date of October 1st, representing an annualized yield of 2.42%.

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 5.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 92,015 shares of the basic materials company's stock after buying an additional 4,381 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Air Products and Chemicals were worth $27,137,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Baker Avenue Asset Management LP increased its holdings in Air Products and Chemicals by 2.3% during the fourth quarter. Baker Avenue Asset Management LP now owns 1,540 shares of the basic materials company's stock worth $447,000 after buying an additional 34 shares during the last quarter. West Branch Capital LLC increased its stake 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 worth $124,000 after purchasing an additional 39 shares in the last quarter. Kathmere Capital Management LLC increased its stake in shares of Air Products and Chemicals by 2.6% in the first quarter. Kathmere Capital Management LLC now owns 1,541 shares of the basic materials company's stock worth $454,000 after purchasing an additional 39 shares in the last quarter. Ferguson Wellman Capital Management Inc. increased its stake in shares of Air Products and Chemicals by 1.6% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 2,499 shares of the basic materials company's stock worth $737,000 after purchasing an additional 40 shares in the last quarter. Finally, Stableford Capital II LLC boosted its position in shares of Air Products and Chemicals by 1.3% in the first 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. 81.66% of the stock is owned by institutional investors.

Air Products and Chemicals Stock Down 2.3%

Air Products and Chemicals stock traded down $6.50 during mid-day trading on Friday, reaching $281.38. The stock had a trading volume of 498,353 shares, compared to its average volume of 1,339,218. The company has a market capitalization of $62.62 billion, a price-to-earnings ratio of 40.93, a PEG ratio of 5.57 and a beta of 0.85. The company has a 50-day moving average price of $284.81 and a two-hundred day moving average price of $290.65. Air Products and Chemicals, Inc. has a one year low of $243.69 and a one 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 posted its earnings results on Thursday, July 31st. The basic materials company reported $3.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.99 by $0.10. The business had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $2.95 billion. Air Products and Chemicals had a net margin of 12.76% and a return on equity of 15.48%. The business's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.20 EPS. On average, analysts expect that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Wednesday, October 1st will be paid a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Wednesday, October 1st. Air Products and Chemicals's dividend payout ratio is 104.07%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on APD shares. UBS Group raised their price objective on shares of Air Products and Chemicals from $328.00 to $344.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Wells Fargo & Company raised their price objective on shares of Air Products and Chemicals from $320.00 to $345.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Morgan Stanley began 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 target price for the company. Bank of America lowered shares of Air Products and Chemicals from a "neutral" rating to an "underperform" rating and dropped their target price for the company from $330.00 to $282.00 in a research report on Tuesday, April 15th. Finally, Barclays dropped their target price on shares of Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, four have assigned 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 company currently has an average rating of "Moderate Buy" and a consensus price target of $334.75.

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.