Farmers & Merchants Investments Inc. Raises Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Farmers & Merchants Investments Inc. increased its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 1.3% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 72,925 shares of the basic materials company’s stock after acquiring an additional 907 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Air Products and Chemicals were worth $21,507,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in APD. Mantle Ridge LP purchased a new position in Air Products and Chemicals in the fourth quarter worth approximately $1,191,344,000. Norges Bank purchased a new position in Air Products and Chemicals in the fourth quarter worth approximately $919,721,000. Bank of America Corp DE grew its position in Air Products and Chemicals by 129.4% in the fourth quarter. Bank of America Corp DE now owns 5,429,147 shares of the basic materials company’s stock worth $1,574,670,000 after acquiring an additional 3,062,157 shares during the period. Raymond James Financial Inc. purchased a new position in Air Products and Chemicals in the fourth quarter worth approximately $885,371,000. Finally, Capital International Investors acquired a new position in Air Products and Chemicals during the fourth quarter worth $436,636,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Performance

NYSE APD opened at $280.02 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. Air Products and Chemicals, Inc. has a 52-week low of $243.69 and a 52-week high of $341.14. The business’s 50-day moving average price is $271.69 and its 200 day moving average price is $294.43. The firm has a market cap of $62.32 billion, a P/E ratio of 16.26, a P/E/G ratio of 3.07 and a beta of 0.86.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Thursday, May 1st. The basic materials company reported $2.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.83 by ($0.14). Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. The business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the previous year, the firm posted $2.85 EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis. On average, equities research analysts expect that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Tuesday, July 1st will be given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 2.56%. The ex-dividend date is Tuesday, July 1st. Air Products and Chemicals’s payout ratio is 104.07%.

Analyst Upgrades and Downgrades

APD has been the subject of several research analyst reports. Wells Fargo & Company lowered their price target on Air Products and Chemicals from $365.00 to $320.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Citigroup lowered their price target on Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating for the company in a research report on Tuesday, March 25th. Bank of America lowered Air Products and Chemicals from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $330.00 to $282.00 in a research report on Tuesday, April 15th. UBS Group reduced their price objective on Air Products and Chemicals from $335.00 to $324.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Finally, Barclays cut their price target on Air Products and Chemicals from $355.00 to $325.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $332.41.

About Air Products and Chemicals

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.