Xponance Inc. Acquires 2,137 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Xponance Inc. increased its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 7.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,092 shares of the basic materials company’s stock after purchasing an additional 2,137 shares during the quarter. Xponance Inc.’s holdings in Air Products and Chemicals were worth $8,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of APD. Cibc World Market Inc. grew its stake in shares of Air Products and Chemicals by 6.9% in the first quarter. Cibc World Market Inc. now owns 1,180 shares of the basic materials company’s stock worth $295,000 after purchasing an additional 76 shares during the last quarter. Prudential PLC purchased a new position in shares of Air Products and Chemicals during the 1st quarter worth approximately $1,010,000. Cetera Investment Advisers grew its holdings in shares of Air Products and Chemicals by 22.3% during the 1st quarter. Cetera Investment Advisers now owns 5,890 shares of the basic materials company’s stock worth $1,472,000 after acquiring an additional 1,075 shares during the period. Baird Financial Group Inc. grew its holdings in shares of Air Products and Chemicals by 4.4% during the 1st quarter. Baird Financial Group Inc. now owns 105,875 shares of the basic materials company’s stock worth $26,459,000 after acquiring an additional 4,470 shares during the period. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Air Products and Chemicals by 17.1% during the 1st quarter. Parkside Financial Bank & Trust now owns 755 shares of the basic materials company’s stock worth $188,000 after acquiring an additional 110 shares during the period. 81.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on APD shares. TD Cowen reduced their target price on Air Products and Chemicals from $345.00 to $305.00 and set an “outperform” rating on the stock in a report on Friday, February 16th. Bank of America upgraded Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $264.00 target price on the stock in a report on Thursday, February 15th. Wolfe Research started coverage on Air Products and Chemicals in a report on Friday, March 1st. They set an “outperform” rating and a $279.00 target price on the stock. Citigroup upped their target price on Air Products and Chemicals from $260.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Finally, BMO Capital Markets reduced their target price on Air Products and Chemicals from $307.00 to $250.00 and set an “outperform” rating on the stock in a report on Tuesday, February 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $276.36.

Air Products and Chemicals Stock Performance

APD stock opened at $231.67 on Friday. The stock has a market capitalization of $51.50 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 2.52 and a beta of 0.81. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $307.71. The company has a current ratio of 1.81, a quick ratio of 1.58 and a debt-to-equity ratio of 0.74. The stock’s 50 day simple moving average is $235.88 and its 200 day simple moving average is $257.47.

Air Products and Chemicals (NYSE:APD) last released 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 business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.20 billion. Air Products and Chemicals had a net margin of 18.82% and a return on equity of 16.84%. The business’s revenue was down 5.6% compared to the same quarter last year. During the same period last year, the company posted $2.64 earnings per share. As a group, research analysts forecast that Air Products and Chemicals, Inc. will post 12.38 earnings per share for the current fiscal year.

Air Products and Chemicals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, April 1st will be issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 3.06%. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.75. The ex-dividend date of this dividend is Thursday, March 28th. Air Products and Chemicals’s dividend payout ratio 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.