Janney Montgomery Scott LLC lifted its position in shares of Air Products and Chemicals, Inc. (NYSE:APD – Free Report) by 31.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 277,219 shares of the basic materials company’s stock after buying an additional 65,593 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.12% of Air Products and Chemicals worth $80,530,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC grew its position in shares of Air Products and Chemicals by 14.5% in the fourth quarter. Brighton Jones LLC now owns 3,260 shares of the basic materials company’s stock valued at $945,000 after purchasing an additional 412 shares during the last quarter. Bison Wealth LLC acquired a new position in shares of Air Products and Chemicals during the 4th quarter worth approximately $245,000. Sei Investments Co. lifted its stake in Air Products and Chemicals by 197.6% in the 2nd quarter. Sei Investments Co. now owns 281,861 shares of the basic materials company’s stock valued at $79,498,000 after buying an additional 187,142 shares in the last quarter. Treasurer of the State of North Carolina lifted its stake in Air Products and Chemicals by 2.1% in the 2nd quarter. Treasurer of the State of North Carolina now owns 103,777 shares of the basic materials company’s stock valued at $29,271,000 after buying an additional 2,171 shares in the last quarter. Finally, Diversify Advisory Services LLC grew its holdings in Air Products and Chemicals by 52.5% during the 2nd quarter. Diversify Advisory Services LLC now owns 6,474 shares of the basic materials company’s stock valued at $1,873,000 after buying an additional 2,229 shares during the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.
Air Products and Chemicals Price Performance
APD stock opened at $277.95 on Friday. The stock has a market capitalization of $61.89 billion, a price-to-earnings ratio of 29.41, a price-to-earnings-growth ratio of 2.43 and a beta of 0.74. The company has a quick ratio of 1.21, a current ratio of 1.43 and a debt-to-equity ratio of 0.95. Air Products and Chemicals, Inc. has a 52-week low of $229.11 and a 52-week high of $307.96. The stock’s fifty day simple moving average is $289.66 and its 200-day simple moving average is $277.75.
Air Products and Chemicals Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Wednesday, July 1st will be issued a dividend of $1.81 per share. This represents a $7.24 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Wednesday, July 1st. Air Products and Chemicals’s dividend payout ratio is presently 76.61%.
Analyst Ratings Changes
A number of research firms have recently weighed in on APD. BMO Capital Markets raised Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $360.00 price target for the company in a report on Friday, May 1st. Wells Fargo & Company increased their price objective on Air Products and Chemicals from $325.00 to $340.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Morgan Stanley boosted their target price on shares of Air Products and Chemicals from $290.00 to $310.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 5th. Berenberg Bank set a $350.00 target price on shares of Air Products and Chemicals and gave the company a “buy” rating in a report on Monday, April 20th. Finally, Mizuho set a $345.00 price target on shares of Air Products and Chemicals in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Air Products and Chemicals currently has an average rating of “Moderate Buy” and a consensus price target of $323.12.
View Our Latest Stock Analysis on APD
Insider Buying and Selling at Air Products and Chemicals
In related news, CFO Melissa N. Schaeffer sold 2,714 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $303.76, for a total value of $824,404.64. Following the sale, the chief financial officer directly owned 14,212 shares of the company’s stock, valued at approximately $4,317,037.12. This trade represents a 16.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.88% of the stock is currently owned by insiders.
About Air Products and Chemicals
Air Products and Chemicals, Inc is a global supplier of industrial gases and related equipment and services, headquartered in Allentown, Pennsylvania. The company produces and delivers atmospheric gases such as oxygen, nitrogen and argon, as well as specialty and process gases used across a wide range of industrial applications. Air Products designs, builds and operates gas production facilities, merchant distribution networks and on-site gas systems for customers that require reliable, high-purity gases and integrated supply solutions.
The company’s product and service portfolio includes packaged and bulk gas supply, pipeline distribution, on-site generation, gas handling and storage equipment, and engineered systems for gas liquefaction and purification.
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