Avidian Wealth Solutions LLC Invests $204,000 in Air Products and Chemicals, Inc. (NYSE:APD)

Avidian Wealth Solutions LLC purchased a new stake in shares of Air Products and Chemicals, Inc. (NYSE:APDFree Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 842 shares of the basic materials company’s stock, valued at approximately $204,000.

Several other hedge funds have also bought and sold shares of the business. Capital Research Global Investors boosted its position in shares of Air Products and Chemicals by 167.2% in the 4th quarter. Capital Research Global Investors now owns 6,921,011 shares of the basic materials company’s stock worth $1,894,973,000 after purchasing an additional 4,330,471 shares in the last quarter. Norges Bank purchased a new position in Air Products and Chemicals during the fourth quarter valued at $852,288,000. Raymond James & Associates boosted its holdings in Air Products and Chemicals by 8.7% in the first quarter. Raymond James & Associates now owns 2,099,419 shares of the basic materials company’s stock worth $508,626,000 after acquiring an additional 167,800 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Air Products and Chemicals by 3.3% in the first quarter. Bank of New York Mellon Corp now owns 2,029,678 shares of the basic materials company’s stock worth $491,730,000 after acquiring an additional 64,427 shares during the last quarter. Finally, Stifel Financial Corp increased its holdings in shares of Air Products and Chemicals by 12.6% during the fourth quarter. Stifel Financial Corp now owns 1,508,625 shares of the basic materials company’s stock valued at $413,078,000 after acquiring an additional 168,959 shares in the last quarter. Institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on APD. Citigroup cut their price objective on shares of Air Products and Chemicals from $285.00 to $280.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Bank of America increased their price target on shares of Air Products and Chemicals from $275.00 to $312.00 and gave the company a “buy” rating in a report on Monday, June 10th. Mizuho decreased their price objective on shares of Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Barclays increased their target price on Air Products and Chemicals from $245.00 to $290.00 and gave the company an “equal weight” rating in a research note on Monday, June 10th. Finally, JPMorgan Chase & Co. decreased their price target on Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $289.21.

Check Out Our Latest Report on APD

Air Products and Chemicals Stock Performance

NYSE APD traded up $0.96 during trading hours on Wednesday, hitting $255.66. 2,160,676 shares of the company’s stock traded hands, compared to its average volume of 1,772,957. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $307.71. The firm has a market capitalization of $56.84 billion, a P/E ratio of 23.07, a P/E/G ratio of 2.76 and a beta of 0.81. The company has a current ratio of 1.49, a quick ratio of 1.31 and a debt-to-equity ratio of 0.77. The business’s fifty day moving average price is $262.09 and its two-hundred day moving average price is $250.78.

Air Products and Chemicals (NYSE:APDGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.70 by $0.15. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. The firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the previous year, the firm posted $2.74 EPS. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. Equities research analysts predict that Air Products and Chemicals, Inc. will post 12.3 EPS for the current year.

Air Products and Chemicals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 12th. Stockholders of record on Monday, July 1st will be given a dividend of $1.77 per share. The ex-dividend date is Monday, July 1st. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.77%. Air Products and Chemicals’s payout ratio is currently 63.90%.

Air Products and Chemicals Company Profile

(Free Report)

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.

Further Reading

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

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