D.A. Davidson & CO. Boosts Stake in Air Products and Chemicals, Inc. (NYSE:APD)

D.A. Davidson & CO. increased its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 11.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,897 shares of the basic materials company’s stock after buying an additional 1,853 shares during the quarter. D.A. Davidson & CO.’s holdings in Air Products and Chemicals were worth $4,900,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC purchased a new stake in Air Products and Chemicals in the 4th quarter valued at $27,000. Roble Belko & Company Inc purchased a new stake in shares of Air Products and Chemicals in the fourth quarter valued at about $27,000. Sachetta LLC acquired a new stake in shares of Air Products and Chemicals during the fourth quarter worth about $27,000. Stuart Chaussee & Associates Inc. grew its holdings in shares of Air Products and Chemicals by 257.6% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 118 shares of the basic materials company’s stock worth $32,000 after buying an additional 85 shares during the last quarter. Finally, Rakuten Securities Inc. acquired a new position in Air Products and Chemicals in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

NYSE:APD opened at $264.69 on Thursday. The company has a current ratio of 1.49, a quick ratio of 1.31 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $58.84 billion, a P/E ratio of 23.89, a price-to-earnings-growth ratio of 2.87 and a beta of 0.80. The firm has a 50-day moving average price of $242.18 and a two-hundred day moving average price of $251.53. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $307.71.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.70 by $0.15. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. The business had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same period last year, the company posted $2.74 EPS. The company’s revenue was down 8.4% on a year-over-year basis. As a group, research analysts expect that Air Products and Chemicals, Inc. will post 12.3 earnings per share for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 12th. Investors of record on Monday, July 1st will be paid a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Friday, June 28th. Air Products and Chemicals’s payout ratio is currently 63.90%.

Wall Street Analyst Weigh In

APD has been the topic of several analyst reports. TD Cowen lifted their target price on Air Products and Chemicals from $305.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Seaport Res Ptn cut shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 6th. TheStreet lowered shares of Air Products and Chemicals from a “b” rating to a “c+” rating in a research note on Monday, February 5th. Morgan Stanley cut their price target on shares of Air Products and Chemicals from $285.00 to $240.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. Finally, Barclays lowered their price objective on Air Products and Chemicals from $260.00 to $245.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Air Products and Chemicals has an average rating of “Hold” and an average target price of $273.77.

About Air Products and Chemicals

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.