New England Research & Management Inc. Grows Stake in Air Products and Chemicals, Inc. (NYSE:APD)

New England Research & Management Inc. lifted its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 25.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,105 shares of the basic materials company’s stock after purchasing an additional 2,050 shares during the period. Air Products and Chemicals comprises 1.2% of New England Research & Management Inc.’s investment portfolio, making the stock its 22nd biggest position. New England Research & Management Inc.’s holdings in Air Products and Chemicals were worth $2,448,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Financial Management Professionals Inc. increased its stake in shares of Air Products and Chemicals by 47.8% during the first quarter. Financial Management Professionals Inc. now owns 1,497 shares of the basic materials company’s stock worth $363,000 after purchasing an additional 484 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its stake in shares of Air Products and Chemicals by 35.9% during the first quarter. Fifth Third Wealth Advisors LLC now owns 2,595 shares of the basic materials company’s stock worth $629,000 after purchasing an additional 686 shares in the last quarter. Scharf Investments LLC purchased a new stake in shares of Air Products and Chemicals during the first quarter worth about $87,173,000. Wealth Enhancement Advisory Services LLC grew its stake in Air Products and Chemicals by 6.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 222,397 shares of the basic materials company’s stock valued at $53,880,000 after acquiring an additional 13,946 shares in the last quarter. Finally, Procyon Advisors LLC grew its stake in Air Products and Chemicals by 141.7% during the 1st quarter. Procyon Advisors LLC now owns 6,735 shares of the basic materials company’s stock valued at $1,632,000 after acquiring an additional 3,949 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on APD shares. Wolfe Research started coverage on shares of Air Products and Chemicals in a research note on Friday, March 1st. They set an “outperform” rating and a $279.00 price objective for the company. Mizuho dropped their price objective on shares of Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Barclays upped their price objective on shares of Air Products and Chemicals from $245.00 to $290.00 and gave the company an “equal weight” rating in a research note on Monday, June 10th. Bank of America boosted their target price on shares of Air Products and Chemicals from $275.00 to $312.00 and gave the company a “buy” rating in a report on Monday, June 10th. Finally, StockNews.com upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Saturday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Air Products and Chemicals has a consensus rating of “Hold” and an average price target of $287.29.

Air Products and Chemicals Stock Performance

Shares of APD stock opened at $257.74 on Friday. The firm’s 50 day moving average price is $259.73 and its 200-day moving average price is $251.94. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.31 and a current ratio of 1.49. Air Products and Chemicals, Inc. has a one year low of $212.24 and a one year high of $307.71. The firm has a market cap of $57.30 billion, a P/E ratio of 23.26, a P/E/G ratio of 2.85 and a beta of 0.84.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.70 by $0.15. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $3.05 billion. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.74 EPS. As a group, equities research analysts predict that Air Products and Chemicals, Inc. will post 12.3 EPS 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 12th. Shareholders of record on Monday, July 1st will be issued a dividend of $1.77 per share. The ex-dividend date is Monday, July 1st. This represents a $7.08 dividend on an annualized basis and a yield of 2.75%. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 63.90%.

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.