Air Products & Chemicals, Inc. (APD) Position Increased by Farmers & Merchants Trust Co of Chambersburg PA

Farmers & Merchants Trust Co of Chambersburg PA increased its position in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 91.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,714 shares of the basic materials company’s stock after buying an additional 3,199 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in Air Products & Chemicals were worth $1,282,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. 1832 Asset Management L.P. grew its holdings in shares of Air Products & Chemicals by 2,002.7% in the fourth quarter. 1832 Asset Management L.P. now owns 353,219 shares of the basic materials company’s stock valued at $56,469,000 after purchasing an additional 336,421 shares during the period. PagnatoKarp Partners LLC grew its holdings in shares of Air Products & Chemicals by 45.7% in the first quarter. PagnatoKarp Partners LLC now owns 3,270 shares of the basic materials company’s stock valued at $628,000 after purchasing an additional 1,026 shares during the period. Hayden Royal LLC purchased a new stake in shares of Air Products & Chemicals in the fourth quarter valued at about $310,000. Viking Fund Management LLC grew its holdings in shares of Air Products & Chemicals by 8.7% in the fourth quarter. Viking Fund Management LLC now owns 12,500 shares of the basic materials company’s stock valued at $2,001,000 after purchasing an additional 1,000 shares during the period. Finally, Blackhawk Capital Partners LLC. purchased a new stake in shares of Air Products & Chemicals in the fourth quarter valued at about $398,000. 87.49% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts recently issued reports on APD shares. Bank of America lowered shares of Air Products & Chemicals from a “neutral” rating to an “underperform” rating and set a $170.00 price objective for the company. in a report on Tuesday, January 8th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Air Products & Chemicals from a “hold” rating to a “buy” rating and set a $179.00 price objective for the company in a report on Tuesday, January 8th. Credit Suisse Group upped their price objective on shares of Air Products & Chemicals from $188.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. BMO Capital Markets upped their price objective on shares of Air Products & Chemicals from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Tuesday, April 9th. Finally, KeyCorp upped their price objective on shares of Air Products & Chemicals from $195.00 to $220.00 and gave the company an “overweight” rating in a report on Friday. One investment analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $194.20.

APD stock traded down $1.62 during mid-day trading on Monday, hitting $192.54. 12,633 shares of the company were exchanged, compared to its average volume of 1,012,188. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.21 and a quick ratio of 2.03. The firm has a market cap of $42.50 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 1.82 and a beta of 0.82. Air Products & Chemicals, Inc. has a 12-month low of $148.44 and a 12-month high of $195.36.

Air Products & Chemicals (NYSE:APD) last announced its earnings results on Friday, January 25th. The basic materials company reported $1.86 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.87 by ($0.01). The company had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.27 billion. Air Products & Chemicals had a return on equity of 15.13% and a net margin of 18.92%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the business earned $1.79 EPS. Sell-side analysts anticipate that Air Products & Chemicals, Inc. will post 8.18 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, April 1st will be given a dividend of $1.16 per share. The ex-dividend date of this dividend is Friday, March 29th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.41%. This is an increase from Air Products & Chemicals’s previous quarterly dividend of $1.10. Air Products & Chemicals’s payout ratio is presently 62.28%.

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Air Products & Chemicals Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.

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Institutional Ownership by Quarter for Air Products & Chemicals (NYSE:APD)

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