Agate Pass Investment Management LLC Has $1.53 Million Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Agate Pass Investment Management LLC raised its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 30.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,322 shares of the basic materials company’s stock after buying an additional 1,469 shares during the quarter. Agate Pass Investment Management LLC’s holdings in Air Products and Chemicals were worth $1,532,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Cape Cod Five Cents Savings Bank bought a new stake in Air Products and Chemicals in the third quarter valued at $376,000. Eos Management L.P. lifted its holdings in Air Products and Chemicals by 26.2% during the 4th quarter. Eos Management L.P. now owns 27,558 shares of the basic materials company’s stock valued at $7,545,000 after purchasing an additional 5,727 shares during the last quarter. Roffman Miller Associates Inc. PA lifted its holdings in Air Products and Chemicals by 3.6% during the 4th quarter. Roffman Miller Associates Inc. PA now owns 65,192 shares of the basic materials company’s stock valued at $17,850,000 after purchasing an additional 2,285 shares during the last quarter. BKM Wealth Management LLC acquired a new position in Air Products and Chemicals in the fourth quarter valued at about $1,177,000. Finally, Zenyatta Capital Management LP increased its holdings in shares of Air Products and Chemicals by 46.7% during the fourth quarter. Zenyatta Capital Management LP now owns 22,000 shares of the basic materials company’s stock worth $6,024,000 after buying an additional 7,000 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Trading Down 0.2 %

Shares of Air Products and Chemicals stock traded down $0.57 during trading on Thursday, hitting $263.13. 319,921 shares of the company were exchanged, compared to its average volume of 1,749,394. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.49 and a quick ratio of 1.31. The firm has a market capitalization of $58.50 billion, a P/E ratio of 23.70, a price-to-earnings-growth ratio of 2.89 and a beta of 0.84. The firm’s fifty day moving average price is $258.60 and its 200 day moving average price is $251.91. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $307.71.

Air Products and Chemicals (NYSE:APD) last issued its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.70 by $0.15. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. The firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the prior year, the firm earned $2.74 earnings per share. The business’s quarterly revenue was down 8.4% on a year-over-year basis. As a group, sell-side analysts expect 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 12th. Stockholders of record on Monday, July 1st will be issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Monday, July 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 63.90%.

Analyst Ratings Changes

A number of equities research analysts recently commented on APD shares. JPMorgan Chase & Co. decreased their price target on Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Mizuho cut their price target on Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. BMO Capital Markets increased their price objective on shares of Air Products and Chemicals from $276.00 to $294.00 and gave the stock an “outperform” rating in a report on Monday, June 10th. TD Cowen boosted their target price on shares of Air Products and Chemicals from $305.00 to $320.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, Barclays increased their price target 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. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $287.29.

Air Products and Chemicals 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.