Bedell Frazier Investment Counseling LLC Purchases New Holdings in Air Products & Chemicals, Inc. (APD)

Bedell Frazier Investment Counseling LLC purchased a new stake in Air Products & Chemicals, Inc. (NYSE:APD) during the 1st quarter, HoldingsChannel.com reports. The firm purchased 1,269 shares of the basic materials company’s stock, valued at approximately $242,000.

A number of other institutional investors have also recently bought and sold shares of APD. Trillium Asset Management LLC lifted its stake in Air Products & Chemicals by 4.4% in the first quarter. Trillium Asset Management LLC now owns 48,586 shares of the basic materials company’s stock valued at $9,278,000 after buying an additional 2,035 shares during the period. Heritage Wealth Advisors lifted its stake in Air Products & Chemicals by 16.3% in the first quarter. Heritage Wealth Advisors now owns 2,850 shares of the basic materials company’s stock valued at $544,000 after buying an additional 400 shares during the period. Everence Capital Management Inc. lifted its stake in Air Products & Chemicals by 37.3% in the first quarter. Everence Capital Management Inc. now owns 10,065 shares of the basic materials company’s stock valued at $1,922,000 after buying an additional 2,732 shares during the period. Outlook Wealth Advisors LLC raised its position in shares of Air Products & Chemicals by 443.3% during the first quarter. Outlook Wealth Advisors LLC now owns 1,304 shares of the basic materials company’s stock worth $249,000 after purchasing an additional 1,064 shares during the period. Finally, SlateStone Wealth LLC raised its position in shares of Air Products & Chemicals by 6.2% during the first quarter. SlateStone Wealth LLC now owns 6,543 shares of the basic materials company’s stock worth $1,249,000 after purchasing an additional 380 shares during the period. Institutional investors and hedge funds own 87.41% of the company’s stock.

Shares of Air Products & Chemicals stock opened at $205.77 on Wednesday. Air Products & Chemicals, Inc. has a 52-week low of $148.44 and a 52-week high of $209.86. The company has a market capitalization of $45.03 billion, a P/E ratio of 27.62, a PEG ratio of 2.11 and a beta of 0.83. The company has a current ratio of 2.36, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29.

Air Products & Chemicals (NYSE:APD) last posted its quarterly earnings results on Wednesday, April 24th. The basic materials company reported $1.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.88 by $0.04. Air Products & Chemicals had a return on equity of 15.28% and a net margin of 18.90%. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same period last year, the company earned $1.71 earnings per share. The business’s revenue was up 1.5% compared to the same quarter last year. Research analysts forecast that Air Products & Chemicals, Inc. will post 8.22 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 12th. Shareholders of record on Monday, July 1st will be issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.25%. Air Products & Chemicals’s dividend payout ratio is presently 62.28%.

APD has been the topic of a number of research analyst reports. Zacks Investment Research lowered Air Products & Chemicals from a “buy” rating to a “hold” rating in a research report on Wednesday, January 16th. Credit Suisse Group raised their price target on Air Products & Chemicals from $188.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. KeyCorp raised their price target on Air Products & Chemicals from $195.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. BMO Capital Markets raised their price target on Air Products & Chemicals from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. raised their price target on Air Products & Chemicals from $167.00 to $207.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $211.50.

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

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