MV Capital Management Inc. Acquires 2,623 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

MV Capital Management Inc. raised its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 62.2% during the first quarter, Holdings Channel.com reports. The fund owned 6,837 shares of the basic materials company’s stock after purchasing an additional 2,623 shares during the period. MV Capital Management Inc.’s holdings in Air Products and Chemicals were worth $1,924,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. E Fund Management Co. Ltd. bought a new position in Air Products and Chemicals in the first quarter valued at approximately $109,000. Norinchukin Bank The boosted its stake in Air Products and Chemicals by 1.7% in the first quarter. Norinchukin Bank The now owns 18,395 shares of the basic materials company’s stock valued at $5,175,000 after acquiring an additional 306 shares during the last quarter. Reilly Herbert Faulkner III boosted its stake in Air Products and Chemicals by 2.0% in the first quarter. Reilly Herbert Faulkner III now owns 33,163 shares of the basic materials company’s stock valued at $9,330,000 after acquiring an additional 649 shares during the last quarter. Brinker Capital Investments LLC boosted its position in shares of Air Products and Chemicals by 646.4% during the first quarter. Brinker Capital Investments LLC now owns 21,003 shares of the basic materials company’s stock worth $5,926,000 after purchasing an additional 18,189 shares in the last quarter. Finally, Enlightenment Research LLC bought a new position in shares of Air Products and Chemicals during the first quarter worth $225,000. 82.01% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Air Products and Chemicals from a “hold” rating to a “sell” rating and set a $297.00 price target on the stock. in a research report on Wednesday, March 31st. Barclays reaffirmed an “equal weight” rating and issued a $310.00 price objective (up from $295.00) on shares of Air Products and Chemicals in a research report on Thursday, May 13th. Wolfe Research started coverage on shares of Air Products and Chemicals in a research note on Wednesday. They issued an “outperform” rating on the stock. Wells Fargo & Company lifted their price target on shares of Air Products and Chemicals from $320.00 to $335.00 and gave the company an “overweight” rating in a research note on Tuesday, May 11th. Finally, HSBC lowered their price target on shares of Air Products and Chemicals from $275.00 to $269.00 and set a “hold” rating on the stock in a research note on Thursday, June 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. Air Products and Chemicals has a consensus rating of “Buy” and a consensus target price of $313.50.

APD traded up $2.62 on Friday, reaching $301.22. The company had a trading volume of 1,818 shares, compared to its average volume of 1,067,795. Air Products and Chemicals, Inc. has a fifty-two week low of $229.17 and a fifty-two week high of $327.89. The firm has a market cap of $66.66 billion, a PE ratio of 35.13, a P/E/G ratio of 2.93 and a beta of 0.76. The firm’s fifty day simple moving average is $293.42. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.76 and a current ratio of 2.91.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings results on Sunday, May 9th. The basic materials company reported $2.08 EPS for the quarter, missing the Zacks’ consensus estimate of $2.12 by ($0.04). Air Products and Chemicals had a net margin of 20.39% and a return on equity of 14.75%. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter last year, the company posted $2.04 EPS. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. Research analysts forecast that Air Products and Chemicals, Inc. will post 9.1 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 9th. Investors of record on Thursday, July 1st will be paid a $1.50 dividend. The ex-dividend date is Wednesday, June 30th. This represents a $6.00 dividend on an annualized basis and a yield of 1.99%. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 71.60%.

Air Products and Chemicals 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, manufacturing, food and beverage, electronics, magnetic resonance imaging, energy production and refining, and metals.

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Institutional Ownership by Quarter for Air Products and Chemicals (NYSE:APD)

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