HFR Wealth Management LLC Boosts Position in Air Products and Chemicals, Inc. (NYSE:APD)

HFR Wealth Management LLC lifted its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 0.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 36,002 shares of the basic materials company’s stock after acquiring an additional 123 shares during the period. Air Products and Chemicals accounts for approximately 2.6% of HFR Wealth Management LLC’s portfolio, making the stock its 24th biggest position. HFR Wealth Management LLC’s holdings in Air Products and Chemicals were worth $10,618,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Baker Avenue Asset Management LP raised its holdings in Air Products and Chemicals by 2.3% in the 4th quarter. Baker Avenue Asset Management LP now owns 1,540 shares of the basic materials company’s stock valued at $447,000 after buying an additional 34 shares during the period. West Branch Capital LLC raised its holdings in Air Products and Chemicals by 10.2% in the 1st quarter. West Branch Capital LLC now owns 421 shares of the basic materials company’s stock valued at $124,000 after buying an additional 39 shares during the period. Kathmere Capital Management LLC raised its holdings in Air Products and Chemicals by 2.6% in the 1st quarter. Kathmere Capital Management LLC now owns 1,541 shares of the basic materials company’s stock valued at $454,000 after buying an additional 39 shares during the period. Ferguson Wellman Capital Management Inc. raised its holdings in Air Products and Chemicals by 1.6% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 2,499 shares of the basic materials company’s stock valued at $737,000 after buying an additional 40 shares during the period. Finally, Stableford Capital II LLC raised its holdings in Air Products and Chemicals by 1.3% in the 1st quarter. Stableford Capital II LLC now owns 3,222 shares of the basic materials company’s stock valued at $950,000 after buying an additional 41 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

Shares of Air Products and Chemicals stock opened at $290.53 on Friday. Air Products and Chemicals, Inc. has a one year low of $243.69 and a one year high of $341.14. The company has a market cap of $64.66 billion, a PE ratio of 41.80, a P/E/G ratio of 6.48 and a beta of 0.81. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.12 and a current ratio of 1.29. The business has a 50-day simple moving average of $287.62 and a 200-day simple moving average of $288.13.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $3.09 EPS for the quarter, topping analysts’ consensus estimates of $2.99 by $0.10. Air Products and Chemicals had a return on equity of 15.11% and a net margin of 12.86%. The business had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the previous year, the company posted $3.20 earnings per share. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, equities research analysts forecast that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Wednesday, October 1st will be given a dividend of $1.79 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.5%. Air Products and Chemicals’s payout ratio is currently 103.02%.

Analysts Set New Price Targets

Several brokerages recently issued reports on APD. Mizuho boosted their price objective on shares of Air Products and Chemicals from $310.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, July 15th. Wells Fargo & Company boosted their price objective on shares of Air Products and Chemicals from $320.00 to $345.00 and gave the company an “overweight” rating in a report on Monday, July 14th. Morgan Stanley began coverage on shares of Air Products and Chemicals in a report on Thursday, May 29th. They issued an “equal weight” rating and a $290.00 price objective on the stock. Citigroup boosted their price objective on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the company a “buy” rating in a report on Monday, June 30th. Finally, Barclays cut their price target on shares of 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. One analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Air Products and Chemicals presently has a consensus rating of “Moderate Buy” and a consensus target price of $335.07.

Insider Activity at Air Products and Chemicals

In other news, VP Victoria Brifo sold 1,359 shares of the business’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $292.38, for a total transaction of $397,344.42. Following the completion of the transaction, the vice president directly owned 8,686 shares of the company’s stock, valued at approximately $2,539,612.68. The trade was a 13.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.41% of the company’s stock.

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.