Geneos Wealth Management Inc. lifted its position in shares of Air Products and Chemicals, Inc. (NYSE:APD – Free Report) by 11.3% in the 1st quarter, Holdings Channel reports. The fund owned 20,136 shares of the basic materials company’s stock after buying an additional 2,041 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Air Products and Chemicals were worth $5,849,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Meridian Management Co. bought a new stake in shares of Air Products and Chemicals in the first quarter valued at approximately $3,190,000. Members Trust Co bought a new stake in Air Products and Chemicals during the 1st quarter valued at $200,000. Checchi Capital Advisers LLC lifted its position in shares of Air Products and Chemicals by 18.2% during the first quarter. Checchi Capital Advisers LLC now owns 1,998 shares of the basic materials company’s stock worth $580,000 after acquiring an additional 308 shares in the last quarter. Maryland State Retirement & Pension System boosted its holdings in shares of Air Products and Chemicals by 3.5% in the first quarter. Maryland State Retirement & Pension System now owns 11,323 shares of the basic materials company’s stock worth $3,289,000 after acquiring an additional 379 shares during the period. Finally, Calamos Wealth Management LLC purchased a new position in shares of Air Products and Chemicals in the first quarter valued at $242,000. 81.66% of the stock is currently owned by institutional investors.
Air Products and Chemicals Stock Performance
NYSE APD opened at $297.56 on Friday. Air Products and Chemicals, Inc. has a 52-week low of $229.11 and a 52-week high of $314.87. The company has a fifty day moving average of $289.80 and a 200-day moving average of $283.67. The company has a market capitalization of $66.26 billion, a P/E ratio of 31.49, a P/E/G ratio of 2.66 and a beta of 0.73. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.21 and a current ratio of 1.43.
Air Products and Chemicals Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Wednesday, July 1st will be given a $1.81 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $7.24 dividend on an annualized basis and a yield of 2.4%. Air Products and Chemicals’s payout ratio is presently 76.61%.
Insider Transactions at Air Products and Chemicals
In other Air Products and Chemicals news, CFO Melissa N. Schaeffer sold 2,714 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $303.76, for a total value of $824,404.64. Following the completion of the sale, the chief financial officer owned 14,212 shares of the company’s stock, valued at $4,317,037.12. This represents a 16.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.88% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Several brokerages have commented on APD. Bank of America raised their target price on Air Products and Chemicals from $280.00 to $303.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 21st. JPMorgan Chase & Co. raised their price objective on shares of Air Products and Chemicals from $310.00 to $330.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Weiss Ratings raised shares of Air Products and Chemicals from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 4th. Evercore reiterated an “outperform” rating and issued a $342.00 target price on shares of Air Products and Chemicals in a research note on Friday, July 10th. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $344.00 price target on shares of Air Products and Chemicals in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Air Products and Chemicals presently has an average rating of “Moderate Buy” and a consensus target price of $325.82.
Read Our Latest Stock Analysis on APD
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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