Powers Advisory Group LLC Acquires 422 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Powers Advisory Group LLC raised its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 32.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,704 shares of the basic materials company’s stock after acquiring an additional 422 shares during the quarter. Powers Advisory Group LLC’s holdings in Air Products and Chemicals were worth $413,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Trexquant Investment LP bought a new stake in Air Products and Chemicals during the 3rd quarter valued at $1,113,000. Schonfeld Strategic Advisors LLC lifted its position in shares of Air Products and Chemicals by 97.6% during the third quarter. Schonfeld Strategic Advisors LLC now owns 18,593 shares of the basic materials company’s stock valued at $5,269,000 after buying an additional 9,183 shares during the last quarter. Axxcess Wealth Management LLC boosted its holdings in shares of Air Products and Chemicals by 91.5% in the 3rd quarter. Axxcess Wealth Management LLC now owns 1,825 shares of the basic materials company’s stock valued at $517,000 after buying an additional 872 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Air Products and Chemicals by 1.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 339,948 shares of the basic materials company’s stock worth $97,306,000 after buying an additional 4,412 shares during the last quarter. Finally, Evergreen Capital Management LLC raised its stake in shares of Air Products and Chemicals by 1.3% during the 3rd quarter. Evergreen Capital Management LLC now owns 15,845 shares of the basic materials company’s stock worth $4,518,000 after acquiring an additional 207 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on APD. JPMorgan Chase & Co. decreased their price objective on Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating for the company in a report 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 stock an “equal weight” rating in a research report on Monday, June 10th. BMO Capital Markets lifted their price target 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. Citigroup cut their price objective on Air Products and Chemicals from $285.00 to $280.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Air Products and Chemicals from $260.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, June 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Air Products and Chemicals currently has a consensus rating of “Hold” and a consensus price target of $287.29.

Air Products and Chemicals Stock Performance

APD traded up $2.00 on Thursday, hitting $253.00. 763,687 shares of the company traded hands, compared to its average volume of 2,109,843. The company has a 50 day moving average of $260.69 and a 200-day moving average of $251.41. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $307.71. The stock has a market capitalization of $56.24 billion, a PE ratio of 22.83, a PEG ratio of 2.72 and a beta of 0.81. The company has a quick ratio of 1.31, a current ratio of 1.49 and a debt-to-equity ratio of 0.77.

Air Products and Chemicals (NYSE:APD) last issued its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.70 by $0.15. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $3.05 billion. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. The business’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.74 earnings per share. Sell-side analysts anticipate that Air Products and Chemicals, Inc. will post 12.3 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 12th. Investors of record on Monday, July 1st will be issued a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Monday, July 1st. Air Products and Chemicals’s dividend payout ratio is currently 63.90%.

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.