Air Products and Chemicals, Inc. (NYSE:APD) Shares Purchased by Gateway Investment Advisers LLC

Posted by on Mar 24th, 2023

Gateway Investment Advisers LLC increased its position in shares of Air Products and Chemicals, Inc. (NYSE:APD – Get Rating) by 4.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,200 shares of the basic materials company’s stock after purchasing an additional 136 shares during the period. Gateway Investment Advisers LLC’s holdings in Air Products and Chemicals were worth $986,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of APD. Align Wealth Management LLC acquired a new stake in Air Products and Chemicals during the fourth quarter worth about $29,000. Western Pacific Wealth Management LP acquired a new stake in Air Products and Chemicals during the third quarter worth about $31,000. Salem Investment Counselors Inc. increased its position in Air Products and Chemicals by 232.6% during the third quarter. Salem Investment Counselors Inc. now owns 143 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 100 shares during the last quarter. Evoke Wealth LLC increased its position in Air Products and Chemicals by 21.9% during the third quarter. Evoke Wealth LLC now owns 206 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 37 shares during the last quarter. Finally, Tobam acquired a new stake in Air Products and Chemicals during the third quarter worth about $51,000. 82.74% of the stock is currently owned by institutional investors and hedge funds.

Air Products and Chemicals Stock Performance

Shares of Air Products and Chemicals stock opened at $266.94 on Friday. The firm’s fifty day simple moving average is $291.17 and its 200-day simple moving average is $282.04. The stock has a market capitalization of $59.28 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 2.10 and a beta of 0.84. Air Products and Chemicals, Inc. has a 12 month low of $218.88 and a 12 month high of $328.56. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.93 and a quick ratio of 1.74.

Air Products and Chemicals (NYSE:APD – Get Rating) last announced its earnings results on Thursday, February 2nd. The basic materials company reported $2.64 EPS for the quarter, missing analysts’ consensus estimates of $2.73 by ($0.09). The business had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.27 billion. Air Products and Chemicals had a net margin of 17.61% and a return on equity of 16.45%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.52 earnings per share. As a group, equities analysts forecast that Air Products and Chemicals, Inc. will post 11.39 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 8th. Investors of record on Monday, April 3rd will be given a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 2.62%. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, March 31st. Air Products and Chemicals’s dividend payout ratio (DPR) is 68.69%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on APD shares. StockNews.com started coverage on shares of Air Products and Chemicals in a research note on Thursday, March 16th. They set a “buy” rating for the company. Vertical Research raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating in a research note on Monday, March 13th. Morgan Stanley decreased their price target on shares of Air Products and Chemicals from $335.00 to $315.00 and set an “equal weight” rating for the company in a research note on Monday, February 6th. UBS Group lifted their price target on shares of Air Products and Chemicals from $290.00 to $355.00 and gave the stock a “buy” rating in a research note on Friday, December 2nd. Finally, Societe Generale cut shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and set a $340.00 price objective on the stock. in a report on Thursday, January 12th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Air Products and Chemicals presently has a consensus rating of “Moderate Buy” and an average price target of $312.75.

Air Products and Chemicals Company Profile

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Air Products & Chemicals, Inc engages in the manufacture and distribution of atmospheric gases. It operates through the following segments: Industrial Gases-Americas, Industrial Gases-EMEA (Europe, Middle East, and Africa), Industrial Gases-Asia, Industrial Gases-Global, and Corporate & Other. The Industrial Gases-America, EMEA, and Asia segment markets and produces atmospheric gases, such as 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 and processing of gases, such as air separation units and non-cryogenic generators.

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

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