Air Products and Chemicals, Inc. (NYSE:APD) Stake Increased by New England Research & Management Inc.

New England Research & Management Inc. increased its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 25.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,105 shares of the basic materials company’s stock after buying an additional 2,050 shares during the period. Air Products and Chemicals comprises about 1.2% of New England Research & Management Inc.’s investment portfolio, making the stock its 22nd largest position. New England Research & Management Inc.’s holdings in Air Products and Chemicals were worth $2,448,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Turtle Creek Wealth Advisors LLC bought a new stake in Air Products and Chemicals during the fourth quarter valued at $27,000. Roble Belko & Company Inc bought a new stake in Air Products and Chemicals during the fourth quarter valued at $27,000. Sachetta LLC bought a new stake in Air Products and Chemicals during the fourth quarter valued at $27,000. Security National Bank bought a new stake in Air Products and Chemicals during the fourth quarter valued at $27,000. Finally, Thompson Investment Management Inc. bought a new stake in Air Products and Chemicals during the first quarter valued at $27,000. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

Shares of APD opened at $257.74 on Friday. Air Products and Chemicals, Inc. has a one year low of $212.24 and a one year high of $307.71. The company has a 50-day moving average of $259.73 and a two-hundred day moving average of $251.94. The stock has a market cap of $57.30 billion, a price-to-earnings ratio of 23.26, a PEG ratio of 2.85 and a beta of 0.84. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.49 and a quick ratio of 1.31.

Air Products and Chemicals (NYSE:APD) last announced its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 EPS for the quarter, topping the consensus estimate 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 company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same period last year, the company posted $2.74 earnings per share. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. On average, equities research analysts expect that Air Products and Chemicals, Inc. will post 12.3 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 12th. Stockholders of record on Monday, July 1st will be given a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Monday, July 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is 63.90%.

Analyst Upgrades and Downgrades

APD has been the subject of several recent research reports. Mizuho lowered their target price on shares of Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. BMO Capital Markets upped their price target on shares of Air Products and Chemicals from $276.00 to $294.00 and gave the stock an “outperform” rating in a research report on Monday, June 10th. Barclays upped their price target on shares of Air Products and Chemicals from $245.00 to $290.00 and gave the stock an “equal weight” rating in a research report on Monday, June 10th. Citigroup lowered their price target on shares of Air Products and Chemicals from $285.00 to $280.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Air Products and Chemicals from $260.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. One equities 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, the company currently has a consensus 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.