Massachusetts Financial Services Co. MA Boosts Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Massachusetts Financial Services Co. MA grew its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 127.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,792,470 shares of the basic materials company’s stock after buying an additional 1,564,169 shares during the period. Massachusetts Financial Services Co. MA owned 1.26% of Air Products and Chemicals worth $720,597,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in APD. Gryphon Financial Partners LLC purchased a new position in Air Products and Chemicals in the 4th quarter worth approximately $486,000. Coldstream Capital Management Inc. lifted its holdings in Air Products and Chemicals by 0.5% in the 4th quarter. Coldstream Capital Management Inc. now owns 16,986 shares of the basic materials company’s stock worth $4,651,000 after purchasing an additional 78 shares in the last quarter. Thoroughbred Financial Services LLC lifted its holdings in Air Products and Chemicals by 16.8% in the 4th quarter. Thoroughbred Financial Services LLC now owns 1,826 shares of the basic materials company’s stock worth $499,000 after purchasing an additional 263 shares in the last quarter. Sachetta LLC purchased a new position in Air Products and Chemicals in the 4th quarter worth approximately $27,000. Finally, D.A. Davidson & CO. lifted its holdings in Air Products and Chemicals by 11.5% in the 4th quarter. D.A. Davidson & CO. now owns 17,897 shares of the basic materials company’s stock worth $4,900,000 after purchasing an additional 1,853 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Performance

Shares of Air Products and Chemicals stock opened at $288.87 on Tuesday. The stock’s fifty day moving average is $271.74 and its two-hundred day moving average is $258.40. The company has a market capitalization of $64.22 billion, a PE ratio of 26.07, a price-to-earnings-growth ratio of 3.70 and a beta of 0.82. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.77. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $301.90.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data on Thursday, August 1st. The basic materials company reported $3.20 EPS for the quarter, beating the consensus estimate of $3.04 by $0.16. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.04 billion. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. As a group, analysts expect that Air Products and Chemicals, Inc. will post 12.32 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, October 1st will be given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Tuesday, October 1st. Air Products and Chemicals’s payout ratio is 63.90%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. The Goldman Sachs Group boosted their price target on Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, August 5th. UBS Group lifted their price objective on Air Products and Chemicals from $276.00 to $281.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. lifted their price objective on Air Products and Chemicals from $300.00 to $340.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Morgan Stanley lifted their price objective on Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 5th. Finally, Bank of America lifted their price objective on Air Products and Chemicals from $275.00 to $312.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $297.40.

Air Products and Chemicals Company 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.