Concurrent Investment Advisors LLC Has $4.30 Million Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Concurrent Investment Advisors LLC lessened its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 8.8% during the first quarter, Holdings Channel.com reports. The firm owned 14,592 shares of the basic materials company’s stock after selling 1,410 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Air Products and Chemicals were worth $4,304,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Baker Avenue Asset Management LP lifted its stake in shares of Air Products and Chemicals by 2.3% during the 4th quarter. Baker Avenue Asset Management LP now owns 1,540 shares of the basic materials company’s stock valued at $447,000 after buying an additional 34 shares in the last quarter. Cyrus J. Lawrence LLC lifted its stake in shares of Air Products and Chemicals by 1.0% during the 4th quarter. Cyrus J. Lawrence LLC now owns 3,597 shares of the basic materials company’s stock valued at $1,043,000 after buying an additional 37 shares in the last quarter. CFO4Life Group LLC lifted its stake in shares of Air Products and Chemicals by 3.9% during the 4th quarter. CFO4Life Group LLC now owns 1,022 shares of the basic materials company’s stock valued at $297,000 after buying an additional 38 shares in the last quarter. West Branch Capital LLC lifted its stake in shares of Air Products and Chemicals by 10.2% during the 1st quarter. West Branch Capital LLC now owns 421 shares of the basic materials company’s stock valued at $124,000 after buying an additional 39 shares in the last quarter. Finally, Aviance Capital Partners LLC lifted its stake in shares of Air Products and Chemicals by 1.2% during the 4th quarter. Aviance Capital Partners LLC now owns 3,490 shares of the basic materials company’s stock valued at $1,012,000 after buying an additional 40 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Royal Bank Of Canada began coverage on shares of Air Products and Chemicals in a research note on Friday, June 13th. They set an “outperform” rating and a $355.00 price target on the stock. Bank of America cut shares of Air Products and Chemicals from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $330.00 to $282.00 in a research note on Tuesday, April 15th. Wells Fargo & Company lowered their target price on shares of Air Products and Chemicals from $365.00 to $320.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. UBS Group lowered their target price on shares of Air Products and Chemicals from $335.00 to $324.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Finally, Morgan Stanley began coverage on shares of Air Products and Chemicals in a research note on Thursday, May 29th. They issued an “equal weight” rating and a $290.00 target price on the stock. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Air Products and Chemicals currently has an average rating of “Moderate Buy” and a consensus target price of $330.94.

Air Products and Chemicals Price Performance

APD stock opened at $291.84 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.85 and a current ratio of 1.00. Air Products and Chemicals, Inc. has a 52 week low of $243.69 and a 52 week high of $341.14. The firm’s fifty day moving average is $276.82 and its 200 day moving average is $290.30. The firm has a market cap of $64.95 billion, a P/E ratio of 42.42, a P/E/G ratio of 5.60 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Thursday, May 1st. The basic materials company reported $2.69 EPS for the quarter, missing the consensus estimate of $2.83 by ($0.14). Air Products and Chemicals had a net margin of 12.76% and a return on equity of 15.48%. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the prior year, the business posted $2.85 EPS. Air Products and Chemicals’s revenue for the quarter was down .5% on a year-over-year basis. Research analysts predict that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Tuesday, July 1st will be issued a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date is Tuesday, July 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 104.07%.

About Air Products and Chemicals

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.