McKinley Carter Wealth Services Inc. Boosts Position in Air Products and Chemicals, Inc. (APD)

McKinley Carter Wealth Services Inc. raised its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 2.7% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 13,968 shares of the basic materials company’s stock after buying an additional 362 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in Air Products and Chemicals were worth $1,890,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in APD. Ancora Advisors LLC purchased a new position in Air Products and Chemicals during the fourth quarter worth approximately $103,000. iAB Financial Bank bought a new stake in Air Products and Chemicals during the first quarter worth $100,000. Westport Asset Management Inc. bought a new stake in Air Products and Chemicals during the fourth quarter worth $115,000. State of Alaska Department of Revenue bought a new stake in Air Products and Chemicals during the first quarter worth $109,000. Finally, Sowell Financial Services LLC bought a new stake in Air Products and Chemicals during the fourth quarter worth $117,000. Institutional investors own 89.64% of the company’s stock.

Institutional Ownership by Quarter for Air Products and Chemicals (NYSE:APD)

Shares of Air Products and Chemicals, Inc. (NYSE:APD) opened at 146.15 on Tuesday. The stock has a market capitalization of $31.82 billion, a PE ratio of 10.11 and a beta of 1.25. Air Products and Chemicals, Inc. has a 1-year low of $122.64 and a 1-year high of $150.45. The firm has a 50-day moving average of $144.49 and a 200 day moving average of $142.24.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings results on Thursday, April 27th. The basic materials company reported $1.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.05. Air Products and Chemicals had a net margin of 36.19% and a return on equity of 19.26%. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the business posted $1.82 EPS. Air Products and Chemicals’s quarterly revenue was up 11.4% on a year-over-year basis. On average, equities analysts anticipate that Air Products and Chemicals, Inc. will post $6.15 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, July 3rd will be paid a dividend of $0.95 per share. The ex-dividend date is Thursday, June 29th. This represents a $3.80 annualized dividend and a dividend yield of 2.60%. Air Products and Chemicals’s dividend payout ratio (DPR) is 26.28%.

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A number of analysts have recently weighed in on APD shares. Deutsche Bank AG raised Air Products and Chemicals from a “hold” rating to a “buy” rating and upped their price objective for the stock from $148.00 to $160.00 in a research report on Monday, May 1st. Zacks Investment Research raised Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $152.00 target price on the stock in a report on Tuesday, April 18th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $155.00 target price on shares of Air Products and Chemicals in a report on Tuesday, May 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $153.71.

About Air Products and Chemicals

Air Products and Chemicals, Inc is an industrial gases company. The Company’s Industrial Gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. The Company operates through seven segments: Industrial Gases-Americas, Industrial Gases-Europe, Middle East, and Africa (EMEA), Industrial Gases-Asia, Industrial Gases-Global, Materials Technologies, Energy-from-Waste, and Corporate and other.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “APD”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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