Ridgewood Investments LLC raised its position in Air Products & Chemicals, Inc. (NYSE:APD) by 16.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,939 shares of the basic materials company’s stock after buying an additional 269 shares during the period. Ridgewood Investments LLC’s holdings in Air Products & Chemicals were worth $370,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of APD. Athena Capital Advisors LLC bought a new position in shares of Air Products & Chemicals during the fourth quarter worth about $28,000. Old North State Trust LLC increased its stake in shares of Air Products & Chemicals by 376.1% in the fourth quarter. Old North State Trust LLC now owns 219 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 173 shares during the period. Pinnacle Bank acquired a new stake in shares of Air Products & Chemicals in the fourth quarter valued at approximately $38,000. Transamerica Financial Advisors Inc. increased its stake in shares of Air Products & Chemicals by 617.6% during the fourth quarter. Transamerica Financial Advisors Inc. now owns 244 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 210 shares during the period. Finally, Legacy Financial Advisors Inc. boosted its holdings in Air Products & Chemicals by 109.0% during the fourth quarter. Legacy Financial Advisors Inc. now owns 255 shares of the basic materials company’s stock worth $41,000 after buying an additional 133 shares in the last quarter. 87.49% of the stock is owned by institutional investors.
A number of equities research analysts have issued reports on APD shares. Bank of America lowered shares of Air Products & Chemicals from a “neutral” rating to an “underperform” rating and set a $170.00 target price for the company. in a research note on Tuesday, January 8th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Air Products & Chemicals from a “buy” rating to a “hold” rating in a research report on Wednesday, January 16th. Credit Suisse Group raised their price target on shares of Air Products & Chemicals from $188.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. KeyCorp lifted their target price on shares of Air Products & Chemicals from $195.00 to $220.00 and gave the company an “overweight” rating in a research report on Friday. Finally, BMO Capital Markets lifted their target price on shares of Air Products & Chemicals from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $194.20.
Air Products & Chemicals (NYSE:APD) last posted its quarterly earnings results on Friday, January 25th. The basic materials company reported $1.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.87 by ($0.01). The business had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.27 billion. Air Products & Chemicals had a net margin of 18.92% and a return on equity of 15.13%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.79 EPS. On average, analysts anticipate that Air Products & Chemicals, Inc. will post 8.18 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Monday, April 1st will be paid a $1.16 dividend. This is a boost from Air Products & Chemicals’s previous quarterly dividend of $1.10. This represents a $4.64 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Friday, March 29th. Air Products & Chemicals’s payout ratio is currently 62.28%.
Air Products & Chemicals Company Profile
Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.
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