Arete Wealth Advisors LLC acquired a new stake in shares of Air Products and Chemicals, Inc. (NYSE:APD – Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,505 shares of the basic materials company’s stock, valued at approximately $720,000.
A number of other hedge funds also recently bought and sold shares of the company. BlackRock Inc. lifted its stake in Air Products and Chemicals by 0.7% during the first quarter. BlackRock Inc. now owns 14,595,383 shares of the basic materials company’s stock valued at $4,191,940,000 after buying an additional 104,973 shares in the last quarter. Bank of America Corp DE lifted its stake in Air Products and Chemicals by 3.7% during the first quarter. Bank of America Corp DE now owns 6,654,402 shares of the basic materials company’s stock valued at $1,911,211,000 after buying an additional 239,381 shares in the last quarter. Morgan Stanley lifted its stake in Air Products and Chemicals by 26.0% during the fourth quarter. Morgan Stanley now owns 5,414,008 shares of the basic materials company’s stock valued at $1,668,923,000 after buying an additional 1,115,729 shares in the last quarter. Geode Capital Management LLC lifted its stake in Air Products and Chemicals by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 4,168,703 shares of the basic materials company’s stock valued at $1,283,417,000 after buying an additional 94,630 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Air Products and Chemicals by 0.3% during the fourth quarter. Wells Fargo & Company MN now owns 4,098,226 shares of the basic materials company’s stock valued at $1,263,319,000 after buying an additional 13,001 shares in the last quarter. 82.62% of the stock is owned by hedge funds and other institutional investors.
Air Products and Chemicals Price Performance
Shares of APD opened at $302.11 on Friday. The firm has a market cap of $67.11 billion, a PE ratio of 30.73, a PEG ratio of 2.58 and a beta of 0.87. The firm’s 50 day moving average price is $294.05 and its 200 day moving average price is $287.62. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.36. Air Products and Chemicals, Inc. has a twelve month low of $224.75 and a twelve month high of $328.56.
Air Products and Chemicals Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Monday, October 2nd will be issued a dividend of $1.75 per share. The ex-dividend date of this dividend is Friday, September 29th. This represents a $7.00 annualized dividend and a yield of 2.32%. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 71.21%.
Analysts Set New Price Targets
A number of research firms have recently issued reports on APD. Citigroup began coverage on shares of Air Products and Chemicals in a research report on Tuesday, June 13th. They issued a “buy” rating and a $317.00 price target for the company. StockNews.com began coverage on shares of Air Products and Chemicals in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Mizuho increased their price target on shares of Air Products and Chemicals from $322.00 to $330.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Six investment analysts have rated the stock with a hold rating and seven have given a 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 $318.93.
Check Out Our Latest Research Report on Air Products and Chemicals
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; 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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