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

Powers Advisory Group LLC increased its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 32.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,704 shares of the basic materials company’s stock after buying 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 SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of APD. Capital Research Global Investors lifted its holdings in shares of Air Products and Chemicals by 167.2% during 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 acquiring an additional 4,330,471 shares during the period. Norges Bank bought a new position in shares of Air Products and Chemicals in the 4th quarter valued at $852,288,000. Nordea Investment Management AB boosted its stake in Air Products and Chemicals by 1,696.4% in the fourth quarter. Nordea Investment Management AB now owns 518,197 shares of the basic materials company’s stock valued at $142,344,000 after buying an additional 489,350 shares in the last quarter. Scharf Investments LLC acquired a new position in Air Products and Chemicals during the first quarter worth about $87,173,000. Finally, Morningstar Investment Services LLC lifted its holdings in shares of Air Products and Chemicals by 96.4% in the fourth quarter. Morningstar Investment Services LLC now owns 684,057 shares of the basic materials company’s stock worth $187,589,000 after acquiring an additional 335,717 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Trading Up 0.8 %

APD traded up $2.00 during trading on Thursday, hitting $253.00. The company’s stock had a trading volume of 763,687 shares, compared to its average volume of 2,109,843. The firm has a market capitalization of $56.24 billion, a P/E ratio of 22.83, a PEG ratio of 2.72 and a beta of 0.81. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $307.71. The company has a quick ratio of 1.31, a current ratio of 1.49 and a debt-to-equity ratio of 0.77. The stock’s fifty day moving average price is $260.69 and its 200-day moving average price is $251.41.

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 (EPS) for the quarter, topping 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 business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same period in the prior year, the firm earned $2.74 earnings per share. Air Products and Chemicals’s revenue was down 8.4% on a year-over-year basis. Analysts anticipate that Air Products and Chemicals, Inc. will post 12.3 EPS for the current year.

Air Products and Chemicals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 12th. Investors of record on Monday, July 1st will be paid 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 of this dividend is Monday, July 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 63.90%.

Analysts Set New Price Targets

APD has been the subject of several research reports. TD Cowen increased their price objective on shares of Air Products and Chemicals from $305.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. cut their price objective on Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Citigroup dropped their target price 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. Morgan Stanley upped their price objective 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. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Air Products and Chemicals from $260.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. One research 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. 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 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.