Azimuth Capital Management LLC Boosts Holdings in Air Products and Chemicals, Inc. (NYSE:APD)


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Azimuth Capital Management LLC grew its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 1.4% during the 4th quarter, HoldingsChannel reports. The fund owned 14,063 shares of the basic materials company’s stock after acquiring an additional 200 shares during the quarter. Azimuth Capital Management LLC’s holdings in Air Products and Chemicals were worth $3,842,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Advisory Alpha LLC bought a new position in shares of Air Products and Chemicals in the third quarter worth approximately $27,000. Adams Wealth Management bought a new position in shares of Air Products and Chemicals in the third quarter worth approximately $30,000. Baron Financial Group LLC bought a new position in shares of Air Products and Chemicals in the third quarter worth approximately $30,000. Emerald Advisers LLC bought a new position in shares of Air Products and Chemicals in the third quarter worth approximately $33,000. Finally, Avion Wealth bought a new stake in Air Products and Chemicals in the fourth quarter valued at $31,000. 82.75% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently weighed in on the stock. Barclays reiterated a “buy” rating on shares of Air Products and Chemicals in a report on Sunday, February 7th. UBS Group upgraded shares of Air Products and Chemicals from a “neutral” rating to a “buy” rating and boosted their target price for the company from $308.00 to $310.00 in a report on Tuesday, December 15th. Morgan Stanley dropped their target price on shares of Air Products and Chemicals from $325.00 to $300.00 and set an “overweight” rating on the stock in a report on Monday, November 16th. BMO Capital Markets dropped their target price on shares of Air Products and Chemicals from $364.00 to $340.00 and set an “outperform” rating on the stock in a report on Thursday, November 12th. Finally, Bank of America upgraded shares of Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $305.00 target price on the stock in a report on Monday, February 8th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $295.69.

Shares of NYSE APD traded down $5.32 during midday trading on Tuesday, hitting $260.16. 25,529 shares of the company’s stock traded hands, compared to its average volume of 1,428,795. Air Products and Chemicals, Inc. has a 1 year low of $167.43 and a 1 year high of $327.89. The stock has a market capitalization of $57.57 billion, a price-to-earnings ratio of 31.27, a price-to-earnings-growth ratio of 3.63 and a beta of 0.76. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.43 and a current ratio of 3.59. The firm has a fifty day moving average of $272.76 and a 200 day moving average of $282.33.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings results on Wednesday, February 3rd. The basic materials company reported $2.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.19 by ($0.07). Air Products and Chemicals had a net margin of 21.30% and a return on equity of 15.48%. The business had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same period in the previous year, the company earned $2.14 EPS. Air Products and Chemicals’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities analysts anticipate that Air Products and Chemicals, Inc. will post 9.28 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 10th. Stockholders of record on Thursday, April 1st will be given a dividend of $1.50 per share. The ex-dividend date is Wednesday, March 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.31%. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.34. Air Products and Chemicals’s dividend payout ratio is presently 63.96%.

Air Products and Chemicals Company 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, 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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