First Republic Investment Management Inc. Acquires 4,160 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

First Republic Investment Management Inc. boosted its holdings in Air Products and Chemicals, Inc. (NYSE:APDGet Rating) by 5.2% in the third quarter, HoldingsChannel reports. The firm owned 84,633 shares of the basic materials company’s stock after purchasing an additional 4,160 shares during the period. First Republic Investment Management Inc.’s holdings in Air Products and Chemicals were worth $19,697,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Eudaimonia Partners LLC increased its holdings in Air Products and Chemicals by 4.5% in the third quarter. Eudaimonia Partners LLC now owns 929 shares of the basic materials company’s stock worth $216,000 after purchasing an additional 40 shares in the last quarter. Oak Harbor Wealth Partners LLC increased its holdings in Air Products and Chemicals by 7.0% in the third quarter. Oak Harbor Wealth Partners LLC now owns 5,685 shares of the basic materials company’s stock worth $1,323,000 after purchasing an additional 370 shares in the last quarter. Stock Yards Bank & Trust Co. increased its holdings in Air Products and Chemicals by 7.4% in the third quarter. Stock Yards Bank & Trust Co. now owns 11,173 shares of the basic materials company’s stock worth $2,600,000 after purchasing an additional 771 shares in the last quarter. Smith Shellnut Wilson LLC ADV increased its holdings in Air Products and Chemicals by 5.5% in the third quarter. Smith Shellnut Wilson LLC ADV now owns 1,356 shares of the basic materials company’s stock worth $316,000 after purchasing an additional 71 shares in the last quarter. Finally, Mutual Advisors LLC increased its holdings in Air Products and Chemicals by 32.2% in the third quarter. Mutual Advisors LLC now owns 2,183 shares of the basic materials company’s stock worth $508,000 after purchasing an additional 532 shares in the last quarter. 82.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on APD. Wells Fargo & Company boosted their price objective on Air Products and Chemicals from $252.00 to $280.00 and gave the company an “equal weight” rating in a report on Friday, November 4th. The Goldman Sachs Group boosted their price objective on Air Products and Chemicals from $295.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, November 9th. Morgan Stanley downgraded Air Products and Chemicals from an “overweight” rating to an “equal weight” rating and set a $335.00 price objective for the company. in a report on Tuesday, January 10th. JPMorgan Chase & Co. decreased their price objective on Air Products and Chemicals from $295.00 to $290.00 in a report on Friday, November 4th. Finally, UBS Group boosted their price objective on Air Products and Chemicals from $290.00 to $355.00 and gave the company a “buy” rating in a report on Friday, December 2nd. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $313.79.

Air Products and Chemicals Stock Up 1.5 %

APD stock opened at $313.34 on Wednesday. The stock’s fifty day simple moving average is $310.03 and its two-hundred day simple moving average is $271.23. The company has a current ratio of 1.81, a quick ratio of 1.66 and a debt-to-equity ratio of 0.52. Air Products and Chemicals, Inc. has a 1-year low of $216.24 and a 1-year high of $328.56. The stock has a market cap of $69.52 billion, a P/E ratio of 30.90, a P/E/G ratio of 2.04 and a beta of 0.83.

Air Products and Chemicals (NYSE:APDGet Rating) last issued its quarterly earnings results on Thursday, November 3rd. The basic materials company reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.12. Air Products and Chemicals had a return on equity of 16.31% and a net margin of 17.77%. The firm had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter in the prior year, the firm earned $2.51 EPS. The business’s revenue for the quarter was up 25.7% compared to the same quarter last year. Analysts expect that Air Products and Chemicals, Inc. will post 11.42 EPS for the current year.

Air Products and Chemicals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 13th. Stockholders of record on Tuesday, January 3rd will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, December 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.07%. Air Products and Chemicals’s dividend payout ratio is presently 63.91%.

Insider Activity

In other news, VP Sean D. Major sold 485 shares of the company’s stock in a transaction on Tuesday, December 20th. The stock was sold at an average price of $313.00, for a total transaction of $151,805.00. Following the transaction, the vice president now owns 14,275 shares of the company’s stock, valued at approximately $4,468,075. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.40% of the company’s stock.

Air Products and Chemicals Company Profile

(Get Rating)

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; 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, manufacturing, electronics, magnetic resonance imaging, 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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