Symphony Financial Ltd. Co. Raises Position in Air Products and Chemicals, Inc. (NYSE:APD)

Symphony Financial Ltd. Co. increased its position in Air Products and Chemicals, Inc. (NYSE:APD) by 19.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,268 shares of the basic materials company’s stock after buying an additional 373 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in Air Products and Chemicals were worth $549,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Capital Research Global Investors raised its position in shares of Air Products and Chemicals by 167.2% in the 4th quarter. Capital Research Global Investors now owns 6,921,011 shares of the basic materials company’s stock worth $1,894,973,000 after buying an additional 4,330,471 shares during the period. Morgan Stanley increased its holdings in Air Products and Chemicals by 4.6% in the 3rd quarter. Morgan Stanley now owns 5,302,455 shares of the basic materials company’s stock valued at $1,502,717,000 after purchasing an additional 235,037 shares in the last quarter. Norges Bank acquired a new stake in Air Products and Chemicals in the 4th quarter valued at $852,288,000. Raymond James & Associates increased its holdings 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 purchasing an additional 66,906 shares in the last quarter. Finally, Stifel Financial Corp increased its holdings in Air Products and Chemicals by 12.6% in the 4th quarter. Stifel Financial Corp now owns 1,508,625 shares of the basic materials company’s stock valued at $413,078,000 after purchasing an additional 168,959 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Price Performance

Shares of NYSE APD traded down $5.02 during trading on Friday, hitting $258.05. The company had a trading volume of 2,606,874 shares, compared to its average volume of 2,045,374. The company has a market cap of $57.37 billion, a P/E ratio of 23.29, a PEG ratio of 2.80 and a beta of 0.84. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $307.71. The business’s 50-day moving average is $259.73 and its 200 day moving average is $251.83. 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 (NYSE:APD) last posted its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.15. The company had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $3.05 billion. Air Products and Chemicals had a return on equity of 16.56% and a net margin of 20.32%. The firm’s revenue was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.74 earnings per share. Equities research analysts predict that Air Products and Chemicals, Inc. will post 12.3 earnings per share for the current fiscal year.

Air Products and Chemicals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Shareholders of record on Monday, July 1st will be paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Monday, July 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 63.90%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on APD shares. Bank of America increased their price target on Air Products and Chemicals from $275.00 to $312.00 and gave the company a “buy” rating in a report on Monday, June 10th. BMO Capital Markets raised their target price on Air Products and Chemicals from $276.00 to $294.00 and gave the company an “outperform” rating in a research note on Monday, June 10th. Morgan Stanley raised their target price on Air Products and Chemicals from $240.00 to $280.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 5th. Barclays raised their target price on 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. Finally, Mizuho lowered their target price on 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. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $287.29.

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.