Everence Capital Management Inc. Makes New Investment in Air Products and Chemicals, Inc. (NYSE:APD)

Everence Capital Management Inc. acquired a new position in shares of Air Products and Chemicals, Inc. (NYSE:APD) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,495 shares of the basic materials company’s stock, valued at approximately $2,953,000.

A number of other institutional investors have also recently modified their holdings of the business. BlackRock Inc. grew its stake in Air Products and Chemicals by 4.4% during the fourth quarter. BlackRock Inc. now owns 16,162,103 shares of the basic materials company’s stock worth $4,415,809,000 after buying an additional 686,175 shares during the last quarter. Wells Fargo & Company MN grew its stake in Air Products and Chemicals by 5.1% during the fourth quarter. Wells Fargo & Company MN now owns 4,509,811 shares of the basic materials company’s stock worth $1,232,171,000 after buying an additional 220,007 shares during the last quarter. Principal Financial Group Inc. grew its stake in Air Products and Chemicals by 2.4% during the fourth quarter. Principal Financial Group Inc. now owns 1,492,752 shares of the basic materials company’s stock worth $407,850,000 after buying an additional 34,365 shares during the last quarter. Morgan Stanley grew its stake in Air Products and Chemicals by 13.2% during the fourth quarter. Morgan Stanley now owns 1,356,480 shares of the basic materials company’s stock worth $370,618,000 after buying an additional 158,482 shares during the last quarter. Finally, Bessemer Group Inc. grew its stake in Air Products and Chemicals by 26.6% during the fourth quarter. Bessemer Group Inc. now owns 1,349,263 shares of the basic materials company’s stock worth $368,646,000 after buying an additional 283,110 shares during the last quarter. 82.75% of the stock is currently owned by hedge funds and other institutional investors.

APD traded up $1.84 during mid-day trading on Thursday, hitting $284.33. The stock had a trading volume of 8,825 shares, compared to its average volume of 1,232,697. The stock’s fifty day simple moving average is $271.58 and its 200-day simple moving average is $277.85. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.59 and a quick ratio of 3.43. The firm has a market capitalization of $62.92 billion, a price-to-earnings ratio of 33.27, a price-to-earnings-growth ratio of 3.63 and a beta of 0.76. Air Products and Chemicals, Inc. has a 1-year low of $201.07 and a 1-year high of $327.89.

Air Products and Chemicals (NYSE:APD) last posted its earnings results on Wednesday, February 3rd. The basic materials company reported $2.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.19 by ($0.07). The firm had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.34 billion. Air Products and Chemicals had a return on equity of 15.48% and a net margin of 21.30%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the business posted $2.14 earnings per share. As a group, research analysts expect that Air Products and Chemicals, Inc. will post 9.28 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 10th. Investors of record on Thursday, April 1st will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.11%. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.34. The ex-dividend date is Wednesday, March 31st. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 71.60%.

Several research firms have recently commented on APD. Jefferies Financial Group cut shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and increased their price target for the company from $307.00 to $324.00 in a research note on Thursday, January 7th. Wells Fargo & Company increased their price target on shares of Air Products and Chemicals from $300.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday. Credit Suisse Group reissued an “outperform” rating and set a $302.00 price target on shares of Air Products and Chemicals in a research note on Monday, March 22nd. Societe Generale raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating in a research note on Wednesday, January 27th. Finally, Cowen initiated coverage on shares of Air Products and Chemicals in a research note on Wednesday, March 24th. They set an “outperform” rating and a $340.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the stock. Air Products and Chemicals has an average rating of “Buy” and a consensus price target of $302.31.

About Air Products and Chemicals

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, manufacturing, food and beverage, electronics, magnetic resonance imaging, energy production and refining, and metals.

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

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