Culbertson A N & Co. Inc. trimmed its position in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 0.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,137 shares of the basic materials company’s stock after selling 230 shares during the period. Air Products & Chemicals comprises 1.4% of Culbertson A N & Co. Inc.’s portfolio, making the stock its 26th largest position. Culbertson A N & Co. Inc.’s holdings in Air Products & Chemicals were worth $4,800,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of APD. OMERS ADMINISTRATION Corp bought a new position in shares of Air Products & Chemicals during the fourth quarter valued at about $164,779,000. Deutsche Bank AG grew its holdings in shares of Air Products & Chemicals by 96.6% during the fourth quarter. Deutsche Bank AG now owns 1,599,411 shares of the basic materials company’s stock valued at $255,979,000 after buying an additional 785,837 shares during the last quarter. Norges Bank purchased a new stake in shares of Air Products & Chemicals during the fourth quarter valued at approximately $95,285,000. Bessemer Group Inc. grew its holdings in shares of Air Products & Chemicals by 21,215.8% during the fourth quarter. Bessemer Group Inc. now owns 597,483 shares of the basic materials company’s stock valued at $95,627,000 after buying an additional 594,680 shares during the last quarter. Finally, Bahl & Gaynor Inc. grew its holdings in shares of Air Products & Chemicals by 56.4% during the fourth quarter. Bahl & Gaynor Inc. now owns 1,274,149 shares of the basic materials company’s stock valued at $203,928,000 after buying an additional 459,587 shares during the last quarter. 87.52% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently commented on APD shares. Bank of America cut shares of Air Products & Chemicals from a “neutral” rating to an “underperform” rating and set a $170.00 price target on the stock. in a report on Tuesday, January 8th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Air Products & Chemicals from a “buy” rating to a “hold” rating in a report on Wednesday, January 16th. Credit Suisse Group increased their price target on shares of Air Products & Chemicals from $188.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. KeyCorp increased their price target on shares of Air Products & Chemicals from $195.00 to $220.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Finally, BMO Capital Markets increased their price objective on shares of Air Products & Chemicals from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $196.40.
APD traded up $0.14 during trading on Wednesday, hitting $197.24. 9,585 shares of the company traded hands, compared to its average volume of 1,018,617. The stock has a market capitalization of $42.59 billion, a price-to-earnings ratio of 26.51, a PEG ratio of 1.82 and a beta of 0.82. Air Products & Chemicals, Inc. has a 1 year low of $148.44 and a 1 year high of $197.33. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.03 and a current ratio of 2.21.
Air Products & Chemicals (NYSE:APD) last released its earnings results on Friday, January 25th. The basic materials company reported $1.86 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.87 by ($0.01). Air Products & Chemicals had a return on equity of 15.13% and a net margin of 18.92%. The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the business posted $1.79 EPS. Air Products & Chemicals’s revenue was up .3% compared to the same quarter last year. On average, equities research analysts forecast that Air Products & Chemicals, Inc. will post 8.18 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Monday, April 1st will be issued a dividend of $1.16 per share. This is a positive change from Air Products & Chemicals’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Friday, March 29th. This represents a $4.64 dividend on an annualized basis and a yield of 2.35%. Air Products & Chemicals’s dividend payout ratio (DPR) is presently 62.28%.
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About Air Products & 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, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.
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