Handelsbanken Fonder AB Acquires 9,629 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Handelsbanken Fonder AB increased its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 12.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 84,415 shares of the basic materials company’s stock after acquiring an additional 9,629 shares during the period. Handelsbanken Fonder AB’s holdings in Air Products and Chemicals were worth $23,113,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of APD. Morgan Stanley raised its position in Air Products and Chemicals by 4.6% during the 3rd quarter. Morgan Stanley now owns 5,302,455 shares of the basic materials company’s stock valued at $1,502,717,000 after purchasing an additional 235,037 shares in the last quarter. Northern Trust Corp raised its position in Air Products and Chemicals by 1.0% during the 3rd quarter. Northern Trust Corp now owns 3,829,919 shares of the basic materials company’s stock valued at $1,085,399,000 after purchasing an additional 39,215 shares in the last quarter. Raymond James & Associates raised its position in Air Products and Chemicals by 3.6% during the 4th quarter. Raymond James & Associates now owns 1,931,619 shares of the basic materials company’s stock valued at $528,877,000 after purchasing an additional 66,906 shares in the last quarter. FMR LLC raised its position in Air Products and Chemicals by 1.3% during the 3rd quarter. FMR LLC now owns 1,715,055 shares of the basic materials company’s stock valued at $486,047,000 after purchasing an additional 21,422 shares in the last quarter. Finally, Stifel Financial Corp raised its position in Air Products and Chemicals by 1.5% during the 3rd quarter. Stifel Financial Corp now owns 1,339,666 shares of the basic materials company’s stock valued at $379,680,000 after purchasing an additional 20,113 shares in the last quarter. 81.66% of the stock is owned by institutional investors.

Air Products and Chemicals Stock Up 1.2 %

Air Products and Chemicals stock opened at $234.37 on Tuesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.58 and a current ratio of 1.81. The business’s 50-day simple moving average is $236.12 and its two-hundred day simple moving average is $256.79. The company has a market cap of $52.10 billion, a PE ratio of 22.36, a PEG ratio of 2.55 and a beta of 0.81. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $307.71.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results on Monday, February 5th. The basic materials company reported $2.82 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($0.18). Air Products and Chemicals had a net margin of 18.82% and a return on equity of 16.84%. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.20 billion. During the same quarter in the previous year, the firm posted $2.64 EPS. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. Equities analysts anticipate that Air Products and Chemicals, Inc. will post 12.38 EPS for the current year.

Air Products and Chemicals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, April 1st will be paid a $1.77 dividend. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.75. The ex-dividend date is Thursday, March 28th. This represents a $7.08 dividend on an annualized basis and a dividend yield of 3.02%. Air Products and Chemicals’s dividend payout ratio is presently 67.56%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on APD. JPMorgan Chase & Co. decreased their target price on Air Products and Chemicals from $295.00 to $270.00 and set an “overweight” rating for the company in a research report on Tuesday, February 6th. Bank of America raised Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $264.00 price target for the company in a research report on Thursday, February 15th. Wolfe Research started coverage on Air Products and Chemicals in a research report on Friday, March 1st. They issued an “outperform” rating and a $279.00 price target for the company. Barclays reduced their price target on Air Products and Chemicals from $260.00 to $245.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 6th. Finally, StockNews.com raised Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $276.36.

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.