Perennial Advisors LLC Has $6.21 Million Position in Air Products and Chemicals, Inc. (NYSE:APD)

Perennial Advisors LLC reduced its stake in shares of Air Products and Chemicals, Inc. (NYSE:APDFree Report) by 0.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,634 shares of the basic materials company’s stock after selling 87 shares during the quarter. Air Products and Chemicals makes up approximately 1.4% of Perennial Advisors LLC’s portfolio, making the stock its 25th largest position. Perennial Advisors LLC’s holdings in Air Products and Chemicals were worth $6,211,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in APD. Capital Research Global Investors raised its position in Air Products and Chemicals by 167.2% during the fourth quarter. Capital Research Global Investors now owns 6,921,011 shares of the basic materials company’s stock valued at $1,894,973,000 after acquiring an additional 4,330,471 shares in the last quarter. Morgan Stanley raised its position in Air Products and Chemicals by 4.6% during the third quarter. Morgan Stanley now owns 5,302,455 shares of the basic materials company’s stock valued at $1,502,717,000 after acquiring an additional 235,037 shares in the last quarter. Northern Trust Corp raised its position in Air Products and Chemicals by 1.0% during the third quarter. Northern Trust Corp now owns 3,829,919 shares of the basic materials company’s stock valued at $1,085,399,000 after acquiring an additional 39,215 shares in the last quarter. Norges Bank bought a new position in Air Products and Chemicals during the fourth quarter valued at approximately $852,288,000. Finally, Raymond James & Associates raised its position in Air Products and Chemicals by 3.6% during the fourth quarter. Raymond James & Associates now owns 1,931,619 shares of the basic materials company’s stock valued at $528,877,000 after acquiring an additional 66,906 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Air Products and Chemicals Stock Performance

APD stock traded down $2.64 on Thursday, reaching $272.06. 1,146,600 shares of the company were exchanged, compared to its average volume of 1,689,086. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $307.71. The stock’s fifty day moving average price is $255.51 and its 200 day moving average price is $251.86. The firm has a market capitalization of $60.48 billion, a PE ratio of 24.55, a PEG ratio of 2.98 and a beta of 0.84. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.49 and a quick ratio of 1.31.

Air Products and Chemicals (NYSE:APDGet Free Report) last announced its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.70 by $0.15. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same quarter in the previous year, the firm posted $2.74 earnings per share. Air Products and Chemicals’s revenue was down 8.4% compared to the same quarter last year. On average, research analysts anticipate that Air Products and Chemicals, Inc. will post 12.3 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Investors of record on Monday, July 1st will be given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Monday, July 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 63.90%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on APD shares. Barclays raised their price objective on shares of Air Products and Chemicals from $245.00 to $290.00 and gave the company an “equal weight” rating in a research report on Monday, June 10th. Argus lowered shares of Air Products and Chemicals from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Citigroup dropped their price target on shares of Air Products and Chemicals from $285.00 to $280.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. BMO Capital Markets lifted their price target on shares of Air Products and Chemicals from $276.00 to $294.00 and gave the company an “outperform” rating in a research report on Monday, June 10th. Finally, Wolfe Research initiated coverage on shares of Air Products and Chemicals in a research report on Friday, March 1st. They issued an “outperform” rating and a $279.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Air Products and Chemicals presently has an average rating of “Hold” and a consensus target price of $287.29.

Check Out Our Latest Report on Air Products and Chemicals

Air Products and Chemicals Company Profile

(Free Report)

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.

See Also

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

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