Everett Harris & Co. CA Boosts Position in Air Products and Chemicals, Inc. (NYSE:APD)

Everett Harris & Co. CA grew its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 14.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,112 shares of the basic materials company’s stock after buying an additional 274 shares during the period. Everett Harris & Co. CA’s holdings in Air Products and Chemicals were worth $578,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Cibc World Market Inc. boosted its position in shares of Air Products and Chemicals by 6.9% during the first quarter. Cibc World Market Inc. now owns 1,180 shares of the basic materials company’s stock valued at $295,000 after purchasing an additional 76 shares in the last quarter. Prudential PLC bought a new stake in shares of Air Products and Chemicals during the first quarter valued at approximately $1,010,000. Cetera Investment Advisers boosted its position in shares of Air Products and Chemicals by 22.3% during the first quarter. Cetera Investment Advisers now owns 5,890 shares of the basic materials company’s stock valued at $1,472,000 after purchasing an additional 1,075 shares in the last quarter. Baird Financial Group Inc. boosted its position in shares of Air Products and Chemicals by 4.4% during the first quarter. Baird Financial Group Inc. now owns 105,875 shares of the basic materials company’s stock valued at $26,459,000 after purchasing an additional 4,470 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in shares of Air Products and Chemicals by 17.1% during the first quarter. Parkside Financial Bank & Trust now owns 755 shares of the basic materials company’s stock valued at $188,000 after purchasing an additional 110 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on APD. Seaport Res Ptn lowered Air Products and Chemicals from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 6th. Morgan Stanley dropped their target price on Air Products and Chemicals from $285.00 to $240.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 7th. TheStreet downgraded Air Products and Chemicals from a “b” rating to a “c+” rating in a report on Monday, February 5th. BMO Capital Markets dropped their target price on Air Products and Chemicals from $307.00 to $250.00 and set an “outperform” rating on the stock in a report on Tuesday, February 6th. Finally, Wolfe Research initiated coverage on Air Products and Chemicals in a report on Friday, March 1st. They issued an “outperform” rating and a $279.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $280.29.

Air Products and Chemicals Stock Performance

Shares of NYSE:APD traded down $0.73 during midday trading on Thursday, reaching $242.37. 1,439,901 shares of the company’s stock traded hands, compared to its average volume of 1,840,263. The company has a market cap of $53.88 billion, a price-to-earnings ratio of 23.13, a P/E/G ratio of 2.62 and a beta of 0.81. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.58 and a current ratio of 1.81. Air Products and Chemicals, Inc. has a one year low of $212.24 and a one year high of $307.71. The stock has a 50 day moving average of $239.78 and a 200 day moving average of $264.01.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings results on Monday, February 5th. The basic materials company reported $2.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.00 by ($0.18). The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.20 billion. Air Products and Chemicals had a net margin of 18.82% and a return on equity of 16.84%. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.64 earnings per share. As a group, equities research analysts anticipate that Air Products and Chemicals, Inc. will post 12.38 EPS for the current fiscal year.

Air Products and Chemicals Increases Dividend

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 given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Thursday, March 28th. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.75. Air Products and Chemicals’s dividend payout ratio is 66.79%.

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.