Welch & Forbes LLC Has $11.06 Million Stake in Air Products & Chemicals, Inc. (NYSE:APD)

Welch & Forbes LLC trimmed its position in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 0.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,050 shares of the basic materials company’s stock after selling 273 shares during the quarter. Welch & Forbes LLC’s holdings in Air Products & Chemicals were worth $11,056,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in APD. Nuveen Asset Management LLC lifted its holdings in shares of Air Products & Chemicals by 19,995.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,127,733 shares of the basic materials company’s stock valued at $255,285,000 after buying an additional 1,122,121 shares during the last quarter. BlackRock Inc. raised its stake in shares of Air Products & Chemicals by 2.8% in the 2nd quarter. BlackRock Inc. now owns 16,830,640 shares of the basic materials company’s stock valued at $3,809,950,000 after acquiring an additional 454,016 shares in the last quarter. Silvercrest Asset Management Group LLC raised its stake in shares of Air Products & Chemicals by 586.5% in the 2nd quarter. Silvercrest Asset Management Group LLC now owns 159,038 shares of the basic materials company’s stock valued at $12,082,000 after acquiring an additional 135,872 shares in the last quarter. Voloridge Investment Management LLC raised its stake in shares of Air Products & Chemicals by 3,218.3% in the 3rd quarter. Voloridge Investment Management LLC now owns 115,279 shares of the basic materials company’s stock valued at $25,576,000 after acquiring an additional 111,805 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of Air Products & Chemicals by 29.2% in the 3rd quarter. California Public Employees Retirement System now owns 486,512 shares of the basic materials company’s stock valued at $107,938,000 after acquiring an additional 110,071 shares in the last quarter. Institutional investors and hedge funds own 83.60% of the company’s stock.

NYSE APD traded up $1.23 during trading on Friday, hitting $237.00. The company’s stock had a trading volume of 11,709 shares, compared to its average volume of 1,205,703. The company has a quick ratio of 2.32, a current ratio of 2.54 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average price of $232.68 and a 200 day moving average price of $226.19. The firm has a market cap of $51.71 billion, a P/E ratio of 28.86, a price-to-earnings-growth ratio of 2.01 and a beta of 0.85. Air Products & Chemicals, Inc. has a 52 week low of $154.10 and a 52 week high of $241.90.

Air Products & Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, November 7th. The basic materials company reported $2.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.29 by ($0.02). The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.37 billion. Air Products & Chemicals had a return on equity of 15.88% and a net margin of 19.73%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.00 earnings per share. On average, equities analysts expect that Air Products & Chemicals, Inc. will post 9.47 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Thursday, January 2nd will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 1.96%. The ex-dividend date is Tuesday, December 31st. Air Products & Chemicals’s dividend payout ratio is currently 56.52%.

APD has been the topic of a number of recent analyst reports. Atlantic Securities initiated coverage on Air Products & Chemicals in a research note on Monday, November 18th. They issued a “neutral” rating and a $250.00 price objective on the stock. Berenberg Bank initiated coverage on Air Products & Chemicals in a research note on Tuesday, November 26th. They issued a “hold” rating and a $241.00 price objective on the stock. Wells Fargo & Co initiated coverage on Air Products & Chemicals in a research note on Tuesday, October 15th. They issued a “market perform” rating and a $240.00 price objective on the stock. Deutsche Bank raised their price objective on Air Products & Chemicals from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, November 8th. They noted that the move was a valuation call. Finally, UBS Group cut their price objective on Air Products & Chemicals from $232.00 to $230.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Thirteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $240.76.

Air Products & Chemicals Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.

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

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