Peterson Wealth Services Boosts Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Peterson Wealth Services grew its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 10.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,634 shares of the basic materials company’s stock after acquiring an additional 442 shares during the period. Peterson Wealth Services’ holdings in Air Products and Chemicals were worth $1,269,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in APD. Cape Cod Five Cents Savings Bank bought a new stake in shares of Air Products and Chemicals in the 3rd quarter worth approximately $376,000. BKM Wealth Management LLC bought a new stake in shares of Air Products and Chemicals in the 4th quarter worth approximately $1,177,000. Bellwether Advisors LLC bought a new stake in shares of Air Products and Chemicals in the 3rd quarter worth approximately $501,000. Zenyatta Capital Management LP boosted its position in shares of Air Products and Chemicals by 46.7% in the 4th quarter. Zenyatta Capital Management LP now owns 22,000 shares of the basic materials company’s stock worth $6,024,000 after purchasing an additional 7,000 shares in the last quarter. Finally, Bristol John W & Co. Inc. NY boosted its position in shares of Air Products and Chemicals by 37.6% in the 4th quarter. Bristol John W & Co. Inc. NY now owns 388,474 shares of the basic materials company’s stock worth $106,364,000 after purchasing an additional 106,054 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on APD. BMO Capital Markets lowered their price objective on Air Products and Chemicals from $307.00 to $250.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 6th. JPMorgan Chase & Co. lowered their price objective on Air Products and Chemicals from $295.00 to $270.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 6th. Seaport Res Ptn cut Air Products and Chemicals from a “buy” rating to a “neutral” rating in a report on Tuesday, February 6th. Wells Fargo & Company lowered Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a research note on Monday, February 5th. Finally, Morgan Stanley reduced their price objective on Air Products and Chemicals from $285.00 to $240.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $276.36.

Air Products and Chemicals Trading Up 0.5 %

Shares of NYSE:APD traded up $1.25 during trading on Thursday, reaching $230.26. The company’s stock had a trading volume of 231,631 shares, compared to its average volume of 1,731,405. The company has a current ratio of 1.81, a quick ratio of 1.58 and a debt-to-equity ratio of 0.74. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $307.71. The firm’s 50 day simple moving average is $235.38 and its two-hundred day simple moving average is $257.98. The stock has a market capitalization of $51.19 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 2.50 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data on Monday, February 5th. The basic materials company reported $2.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.00 by ($0.18). The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.20 billion. Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.64 EPS. On average, research analysts predict that Air Products and Chemicals, Inc. will post 12.38 EPS for the current fiscal year.

Air Products and Chemicals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, April 1st will be paid a $1.77 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $7.08 annualized dividend and a yield of 3.07%. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.75. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 67.56%.

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.