Hartford Financial Management Inc. Boosts Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Hartford Financial Management Inc. boosted its position in Air Products and Chemicals, Inc. (NYSE:APDFree Report) by 7.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,543 shares of the basic materials company’s stock after purchasing an additional 543 shares during the period. Hartford Financial Management Inc.’s holdings in Air Products and Chemicals were worth $1,827,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of APD. Turtle Creek Wealth Advisors LLC purchased a new position in Air Products and Chemicals in the fourth quarter valued at approximately $27,000. Roble Belko & Company Inc bought a new stake in Air Products and Chemicals during the 4th quarter valued at $27,000. Sachetta LLC bought a new stake in Air Products and Chemicals during the 4th quarter valued at $27,000. Security National Bank bought a new stake in Air Products and Chemicals during the 4th quarter valued at $27,000. Finally, Thompson Investment Management Inc. bought a new stake in Air Products and Chemicals during the 1st quarter valued at $27,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Trading Up 1.3 %

NYSE:APD traded up $3.50 during mid-day trading on Monday, reaching $266.20. 2,245,983 shares of the company’s stock traded hands, compared to its average volume of 1,728,840. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $307.71. The firm has a market capitalization of $59.18 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 2.84 and a beta of 0.80. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.49 and a quick ratio of 1.31. The company has a 50 day moving average price of $241.43 and a 200-day moving average price of $251.64.

Air Products and Chemicals (NYSE:APDGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.70 by $0.15. The business had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $3.05 billion. Air Products and Chemicals had a return on equity of 16.56% and a net margin of 20.32%. The business’s revenue was down 8.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.74 EPS. On average, sell-side analysts predict that Air Products and Chemicals, Inc. will post 12.31 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 12th. Stockholders of record on Monday, July 1st will be given a $1.77 dividend. The ex-dividend date is Monday, July 1st. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.66%. Air Products and Chemicals’s dividend payout ratio is currently 63.90%.

Analysts Set New Price Targets

A number of brokerages have issued reports on APD. Barclays lowered their target price on shares of Air Products and Chemicals from $260.00 to $245.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 6th. StockNews.com raised shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Friday, May 10th. JPMorgan Chase & Co. decreased their price target on shares of Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. TheStreet cut shares of Air Products and Chemicals from a “b” rating to a “c+” rating in a report on Monday, February 5th. Finally, Bank of America upped their price target on shares of Air Products and Chemicals from $272.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $273.77.

Get Our Latest Stock Analysis on Air Products and Chemicals

About Air Products and Chemicals

(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.

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

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