Sanders Morris Harris LLC Makes New $567,000 Investment in Air Products and Chemicals, Inc. (NYSE:APD)

Sanders Morris Harris LLC acquired a new stake in Air Products and Chemicals, Inc. (NYSE:APD) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,340 shares of the basic materials company’s stock, valued at approximately $567,000.

A number of other hedge funds have also recently modified their holdings of the stock. Turtle Creek Wealth Advisors LLC purchased a new position in Air Products and Chemicals in the fourth quarter valued at $27,000. Roble Belko & Company Inc acquired a new position in Air Products and Chemicals in the 4th quarter worth about $27,000. Sachetta LLC purchased a new position in Air Products and Chemicals during the fourth quarter worth approximately $27,000. Security National Bank acquired a new stake in Air Products and Chemicals in the fourth quarter valued at approximately $27,000. Finally, Transcendent Capital Group LLC purchased a new stake in shares of Air Products and Chemicals in the fourth quarter valued at approximately $28,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

APD has been the subject of several research analyst reports. TD Cowen upped their price target on shares of Air Products and Chemicals from $305.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Citigroup decreased their target price on 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. Wolfe Research initiated coverage on Air Products and Chemicals in a research report on Friday, March 1st. They set an “outperform” rating and a $279.00 price target for the company. Mizuho decreased their price objective on Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Finally, Argus lowered shares of Air Products and Chemicals from a “buy” rating to a “hold” rating in a report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $287.29.

Air Products and Chemicals Trading Up 0.3 %

Shares of Air Products and Chemicals stock traded up $0.84 during trading hours on Friday, hitting $272.91. The company’s stock had a trading volume of 2,500,376 shares, compared to its average volume of 1,359,440. The company has a quick ratio of 1.31, a current ratio of 1.49 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $60.67 billion, a PE ratio of 24.63, a P/E/G ratio of 2.95 and a beta of 0.84. The business has a fifty day moving average of $256.33 and a 200 day moving average of $251.80. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $307.71.

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

Air Products and Chemicals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Investors of record on Monday, July 1st will be given a $1.77 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $7.08 dividend on an annualized basis and a yield of 2.59%. Air Products and Chemicals’s dividend payout ratio is presently 63.90%.

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.