Ritholtz Wealth Management Boosts Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Ritholtz Wealth Management grew its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 20.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,603 shares of the basic materials company’s stock after buying an additional 277 shares during the quarter. Ritholtz Wealth Management’s holdings in Air Products and Chemicals were worth $473,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Dynamic Advisor Solutions LLC increased its position in shares of Air Products and Chemicals by 3.9% in the first quarter. Dynamic Advisor Solutions LLC now owns 7,120 shares of the basic materials company’s stock valued at $2,100,000 after buying an additional 266 shares in the last quarter. Missouri Trust & Investment Co boosted its stake in shares of Air Products and Chemicals by 19.3% in the first quarter. Missouri Trust & Investment Co now owns 340 shares of the basic materials company’s stock worth $100,000 after acquiring an additional 55 shares during the last quarter. Dover Advisors LLC boosted its stake in shares of Air Products and Chemicals by 29.4% in the first quarter. Dover Advisors LLC now owns 4,945 shares of the basic materials company’s stock worth $1,458,000 after acquiring an additional 1,123 shares during the last quarter. Everpar Advisors LLC boosted its stake in shares of Air Products and Chemicals by 96.4% in the first quarter. Everpar Advisors LLC now owns 1,477 shares of the basic materials company’s stock worth $436,000 after acquiring an additional 725 shares during the last quarter. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Air Products and Chemicals in the first quarter worth approximately $156,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Performance

Shares of Air Products and Chemicals stock opened at $275.32 on Friday. Air Products and Chemicals, Inc. has a 52 week low of $243.69 and a 52 week high of $341.14. The business’s fifty day simple moving average is $272.89 and its 200-day simple moving average is $292.85. The firm has a market cap of $61.27 billion, a PE ratio of 40.02, a price-to-earnings-growth ratio of 5.28 and a beta of 0.86. The company has a quick ratio of 0.85, a current ratio of 1.00 and a debt-to-equity ratio of 0.85.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings results on Thursday, May 1st. The basic materials company reported $2.69 EPS for the quarter, missing the consensus estimate of $2.83 by ($0.14). Air Products and Chemicals had a net margin of 12.76% and a return on equity of 15.48%. The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same period last year, the company earned $2.85 EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis. Equities analysts forecast that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Tuesday, July 1st will be paid a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Tuesday, July 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 104.07%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Citigroup lowered their price target on Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating on the stock in a research note on Tuesday, March 25th. Bank of America lowered Air Products and Chemicals from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $330.00 to $282.00 in a research note on Tuesday, April 15th. UBS Group lowered their price target on Air Products and Chemicals from $335.00 to $324.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Morgan Stanley began coverage on Air Products and Chemicals in a research note on Thursday, May 29th. They issued an “equal weight” rating and a $290.00 price target on the stock. Finally, Wells Fargo & Company lowered their price objective on Air Products and Chemicals from $365.00 to $320.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Air Products and Chemicals presently has a consensus rating of “Moderate Buy” and an average target price of $332.41.

Air Products and Chemicals Company Profile

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.