Apollon Wealth Management LLC Increases Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Apollon Wealth Management LLC raised its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 1.6% during the 4th quarter, HoldingsChannel reports. The firm owned 14,508 shares of the basic materials company’s stock after acquiring an additional 227 shares during the period. Apollon Wealth Management LLC’s holdings in Air Products and Chemicals were worth $4,208,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Exane Asset Management purchased a new position in shares of Air Products and Chemicals in the 4th quarter valued at approximately $8,796,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Air Products and Chemicals by 7.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 27,929 shares of the basic materials company’s stock valued at $8,101,000 after purchasing an additional 1,962 shares during the last quarter. Ledyard National Bank boosted its stake in shares of Air Products and Chemicals by 7.4% in the fourth quarter. Ledyard National Bank now owns 1,259 shares of the basic materials company’s stock valued at $365,000 after buying an additional 87 shares in the last quarter. Iron Horse Wealth Management LLC boosted its stake in shares of Air Products and Chemicals by 41.0% in the fourth quarter. Iron Horse Wealth Management LLC now owns 165 shares of the basic materials company’s stock valued at $48,000 after buying an additional 48 shares in the last quarter. Finally, GHP Investment Advisors Inc. boosted its stake in shares of Air Products and Chemicals by 11.0% in the fourth quarter. GHP Investment Advisors Inc. now owns 28,167 shares of the basic materials company’s stock valued at $8,170,000 after buying an additional 2,781 shares in the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Performance

Air Products and Chemicals stock opened at $310.66 on Friday. The firm has a market capitalization of $69.09 billion, a P/E ratio of 18.04, a PEG ratio of 3.47 and a beta of 0.85. The stock has a fifty day moving average price of $309.83 and a 200 day moving average price of $301.29. Air Products and Chemicals, Inc. has a 52 week low of $213.80 and a 52 week high of $341.14. The company has a current ratio of 1.11, a quick ratio of 1.34 and a debt-to-equity ratio of 0.71.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.27). Air Products and Chemicals had a net margin of 31.88% and a return on equity of 15.78%. Equities research analysts anticipate that Air Products and Chemicals, Inc. will post 12.77 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be given a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Tuesday, April 1st. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s payout ratio is 41.11%.

Wall Street Analysts Forecast Growth

APD has been the topic of a number of analyst reports. UBS Group lifted their price target on Air Products and Chemicals from $375.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Wells Fargo & Company lifted their price target on Air Products and Chemicals from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday. JPMorgan Chase & Co. restated a “neutral” rating and issued a $320.00 price target (down from $345.00) on shares of Air Products and Chemicals in a research note on Friday. Sanford C. Bernstein raised Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price objective for the company in a report on Friday, January 31st. Finally, Barclays raised Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $315.00 to $365.00 in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Air Products and Chemicals presently has a consensus rating of “Moderate Buy” and a consensus target price of $339.94.

Air Products and Chemicals Profile

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.