Cambridge Investment Research Advisors Inc. grew its stake in Air Products & Chemicals, Inc. (NYSE:APD) by 11.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,706 shares of the basic materials company’s stock after acquiring an additional 1,381 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Air Products & Chemicals were worth $3,309,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in APD. Sound Income Strategies LLC increased its stake in shares of Air Products & Chemicals by 118.6% in the 1st quarter. Sound Income Strategies LLC now owns 129 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 70 shares during the last quarter. Toth Financial Advisory Corp bought a new stake in Air Products & Chemicals during the 2nd quarter worth approximately $27,000. Stonebridge Financial Planning Group LLC bought a new stake in Air Products & Chemicals during the 1st quarter worth approximately $32,000. Front Row Advisors LLC bought a new stake in Air Products & Chemicals during the 1st quarter worth approximately $35,000. Finally, Watson Rebecca bought a new stake in Air Products & Chemicals during the 2nd quarter worth approximately $35,000. 83.65% of the stock is owned by institutional investors.
APD stock opened at $286.63 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.48 and a quick ratio of 3.32. The stock has a market capitalization of $63.31 billion, a price-to-earnings ratio of 33.88, a PEG ratio of 3.89 and a beta of 0.85. The business’s fifty day moving average price is $260.72 and its two-hundred day moving average price is $235.84. Air Products & Chemicals, Inc. has a fifty-two week low of $167.43 and a fifty-two week high of $299.82.
Air Products & Chemicals (NYSE:APD) last posted its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.03. The firm had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Air Products & Chemicals had a return on equity of 15.96% and a net margin of 21.58%. The company’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.17 EPS. Research analysts expect that Air Products & Chemicals, Inc. will post 8.39 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Thursday, October 1st will be given a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Wednesday, September 30th. Air Products & Chemicals’s payout ratio is currently 65.29%.
APD has been the subject of a number of research reports. Morgan Stanley increased their target price on Air Products & Chemicals from $245.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 28th. SunTrust Banks increased their target price on Air Products & Chemicals from $295.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. They noted that the move was a valuation call. Wells Fargo & Co reduced their price target on Air Products & Chemicals from $265.00 to $260.00 and set an “overweight” rating for the company in a research report on Friday, April 24th. BMO Capital Markets upped their price target on Air Products & Chemicals from $295.00 to $359.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Finally, Sanford C. Bernstein raised Air Products & Chemicals from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $246.00 to $262.00 in a research report on Wednesday, April 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $282.44.
Air Products & 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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