Air Products and Chemicals, Inc. (NYSE:APD) Shares Bought by Zenyatta Capital Management LP

Zenyatta Capital Management LP lifted its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 46.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 22,000 shares of the basic materials company's stock after acquiring an additional 7,000 shares during the period. Air Products and Chemicals makes up about 2.3% of Zenyatta Capital Management LP's investment portfolio, making the stock its 16th biggest position. Zenyatta Capital Management LP's holdings in Air Products and Chemicals were worth $6,024,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Morgan Stanley increased its position in shares of Air Products and Chemicals by 26.0% during the 4th quarter. Morgan Stanley now owns 5,414,008 shares of the basic materials company's stock worth $1,668,923,000 after purchasing an additional 1,115,729 shares in the last quarter. Wells Fargo & Company MN increased its position in Air Products and Chemicals by 0.9% in the 2nd quarter. Wells Fargo & Company MN now owns 4,163,043 shares of the basic materials company's stock valued at $1,246,957,000 after acquiring an additional 38,283 shares in the last quarter. Northern Trust Corp increased its position in Air Products and Chemicals by 1.0% in the 3rd quarter. Northern Trust Corp now owns 3,829,919 shares of the basic materials company's stock valued at $1,085,399,000 after acquiring an additional 39,215 shares in the last quarter. Norges Bank acquired a new stake in Air Products and Chemicals in the 4th quarter valued at about $962,356,000. Finally, Raymond James & Associates increased its position in Air Products and Chemicals by 3.6% in the 4th quarter. Raymond James & Associates now owns 1,931,619 shares of the basic materials company's stock valued at $528,877,000 after acquiring an additional 66,906 shares in the last quarter. 81.66% of the stock is owned by institutional investors.

Air Products and Chemicals Stock Up 0.7 %

NYSE:APD traded up $1.57 during trading hours on Friday, hitting $238.68. 1,588,696 shares of the company traded hands, compared to its average volume of 1,336,356. The company has a quick ratio of 1.58, a current ratio of 1.81 and a debt-to-equity ratio of 0.74. The firm's 50-day simple moving average is $236.90 and its 200-day simple moving average is $260.75. Air Products and Chemicals, Inc. has a one year low of $212.24 and a one year high of $307.71. The company has a market cap of $53.06 billion, a PE ratio of 22.77, a PEG ratio of 2.63 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its quarterly earnings data on Monday, February 5th. The basic materials company reported $2.82 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($0.18). The firm had revenue of $3 billion during the quarter, compared to analysts' expectations of $3.20 billion. Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. The company's revenue was down 5.6% compared to the same quarter last year. During the same period last year, the business posted $2.64 EPS. Equities analysts predict that Air Products and Chemicals, Inc. will post 12.38 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, April 1st will be given a $1.77 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $7.08 annualized dividend and a yield of 2.97%. This is an increase from Air Products and Chemicals's previous quarterly dividend of $1.75. Air Products and Chemicals's payout ratio is presently 67.56%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on APD shares. Argus cut shares of Air Products and Chemicals from a "buy" rating to a "hold" rating in a research report on Monday, February 26th. Wells Fargo & Company lowered shares of Air Products and Chemicals from an "overweight" rating to an "equal weight" rating in a research note on Monday, February 5th. BMO Capital Markets reduced their price objective on shares of Air Products and Chemicals from $307.00 to $250.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 6th. TheStreet lowered shares of Air Products and Chemicals from a "b" rating to a "c+" rating in a research note on Monday, February 5th. Finally, Barclays cut their price target on shares of Air Products and Chemicals from $260.00 to $245.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $280.29.

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.