Wealth Enhancement Advisory Services LLC Has $53.88 Million Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Wealth Enhancement Advisory Services LLC lifted its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 6.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 222,397 shares of the basic materials company’s stock after buying an additional 13,946 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Air Products and Chemicals were worth $53,880,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Turtle Creek Wealth Advisors LLC acquired a new stake in Air Products and Chemicals in the 4th quarter valued at $27,000. Roble Belko & Company Inc acquired a new stake in Air Products and Chemicals in the 4th quarter valued at $27,000. Sachetta LLC acquired a new stake in Air Products and Chemicals in the 4th quarter valued at $27,000. Security National Bank acquired a new stake in Air Products and Chemicals in the 4th quarter valued at $27,000. Finally, Thompson Investment Management Inc. acquired a new stake in Air Products and Chemicals in the 1st quarter valued at $27,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Stock Down 0.4 %

Shares of NYSE APD opened at $262.00 on Friday. The firm has a market capitalization of $58.25 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 2.86 and a beta of 0.84. The business has a 50-day moving average of $258.60 and a 200-day moving average of $251.91. The company has a current ratio of 1.49, a quick ratio of 1.31 and a debt-to-equity ratio of 0.77. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $307.71.

Air Products and Chemicals (NYSE:APD) last issued its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.15. The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $3.05 billion. Air Products and Chemicals had a return on equity of 16.56% and a net margin of 20.32%. Air Products and Chemicals’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.74 earnings per share. Sell-side analysts expect that Air Products and Chemicals, Inc. will post 12.3 earnings per share for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Shareholders of record on Monday, July 1st will be paid a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.70%. The ex-dividend date is Monday, July 1st. Air Products and Chemicals’s dividend payout ratio is currently 63.90%.

Analyst Ratings Changes

APD has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. BMO Capital Markets boosted their price objective on Air Products and Chemicals from $276.00 to $294.00 and gave the company an “outperform” rating in a research note on Monday, June 10th. Wolfe Research assumed coverage on Air Products and Chemicals in a research note on Friday, March 1st. They issued an “outperform” rating and a $279.00 price objective on the stock. Morgan Stanley upped their price target on Air Products and Chemicals from $240.00 to $280.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 5th. Finally, Mizuho decreased their price target on Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $287.29.

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.