Bank of Hawaii raised its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 16.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,503 shares of the basic materials company’s stock after purchasing an additional 495 shares during the period. Bank of Hawaii’s holdings in Air Products and Chemicals were worth $1,043,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Northwest Investment Counselors LLC acquired a new position in shares of Air Products and Chemicals during the third quarter valued at $29,000. Adams Wealth Management acquired a new stake in Air Products and Chemicals in the third quarter worth about $30,000. Summit X LLC acquired a new stake in Air Products and Chemicals in the third quarter worth about $30,000. Crewe Advisors LLC acquired a new stake in Air Products and Chemicals in the third quarter worth about $31,000. Finally, Emerald Advisers LLC bought a new stake in Air Products and Chemicals in the third quarter worth about $33,000. Hedge funds and other institutional investors own 79.57% of the company’s stock.
Shares of NYSE APD opened at $280.14 on Tuesday. The stock has a market cap of $61.92 billion, a price-to-earnings ratio of 33.00, a PEG ratio of 3.57 and a beta of 0.86. The business has a 50 day simple moving average of $285.55 and a 200 day simple moving average of $275.51. Air Products and Chemicals, Inc. has a 52 week low of $167.43 and a 52 week high of $327.89. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.43 and a current ratio of 3.59.
Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings results on Monday, November 16th. The basic materials company reported $2.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.21 by ($0.02). Air Products and Chemicals had a net margin of 21.30% and a return on equity of 15.48%. The firm had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the previous year, the firm posted $2.27 EPS. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, analysts predict that Air Products and Chemicals, Inc. will post 9.12 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 8th. Stockholders of record on Monday, January 4th will be given a $1.34 dividend. The ex-dividend date is Thursday, December 31st. This represents a $5.36 annualized dividend and a dividend yield of 1.91%. Air Products and Chemicals’s dividend payout ratio is 63.96%.
Several equities research analysts have commented on APD shares. Evercore ISI started coverage on shares of Air Products and Chemicals in a research report on Monday, September 21st. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. downgraded Air Products and Chemicals from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $310.00 to $280.00 in a report on Thursday, November 12th. Morgan Stanley cut their price objective on Air Products and Chemicals from $325.00 to $300.00 and set an “overweight” rating on the stock in a report on Monday, November 16th. Wells Fargo & Company cut their price objective on Air Products and Chemicals from $340.00 to $320.00 and set an “overweight” rating on the stock in a report on Thursday, November 12th. Finally, Zacks Investment Research downgraded Air Products and Chemicals from a “buy” rating to a “hold” rating and set a $305.00 price objective on the stock. in a report on Monday, September 28th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Air Products and Chemicals has an average rating of “Buy” and an average target price of $291.21.
Air Products and 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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