Invesco LLC Boosts Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Invesco LLC increased its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 5.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,224 shares of the basic materials company’s stock after purchasing an additional 65 shares during the period. Invesco LLC’s holdings in Air Products and Chemicals were worth $335,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Turtle Creek Wealth Advisors LLC purchased a new position in Air Products and Chemicals in the 4th quarter valued at approximately $27,000. Legacy Bridge LLC purchased a new position in Air Products and Chemicals in the 4th quarter valued at approximately $35,000. FinTrust Capital Advisors LLC boosted its position in Air Products and Chemicals by 40.4% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 132 shares of the basic materials company’s stock valued at $37,000 after buying an additional 38 shares during the period. Artemis Wealth Advisors LLC purchased a new position in Air Products and Chemicals in the 3rd quarter valued at approximately $39,000. Finally, Fortitude Family Office LLC purchased a new position in Air Products and Chemicals in the 4th quarter valued at approximately $42,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on APD. Citigroup lifted their price objective on shares of Air Products and Chemicals from $260.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. BMO Capital Markets cut their price target on shares of Air Products and Chemicals from $307.00 to $250.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 6th. Wolfe Research started coverage on shares of Air Products and Chemicals in a research note on Friday, March 1st. They set an “outperform” rating and a $279.00 price target on the stock. Bank of America upgraded shares of Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $264.00 price target on the stock in a research note on Thursday, February 15th. Finally, StockNews.com lowered shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Sunday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Air Products and Chemicals currently has an average rating of “Hold” and an average target price of $276.36.

Air Products and Chemicals Trading Down 0.2 %

NYSE APD opened at $231.16 on Tuesday. The stock has a market capitalization of $51.39 billion, a P/E ratio of 22.06, a P/E/G ratio of 2.55 and a beta of 0.81. Air Products and Chemicals, Inc. has a 52-week low of $212.24 and a 52-week high of $307.71. The firm has a 50-day moving average price of $234.91 and a 200 day moving average price of $258.57. The company has a quick ratio of 1.58, a current ratio of 1.81 and a debt-to-equity ratio of 0.74.

Air Products and Chemicals (NYSE:APD) last issued its 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 company had revenue of $3 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was down 5.6% on a year-over-year basis. During the same period last year, the business posted $2.64 earnings per share. Equities research analysts expect that Air Products and Chemicals, Inc. will post 12.38 EPS for the current year.

Air Products and Chemicals Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $7.08 dividend on an annualized basis and a yield of 3.06%. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.75. Air Products and Chemicals’s dividend payout ratio (DPR) is 67.56%.

Air Products and Chemicals Company 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.