Zenyatta Capital Management LP increased its position in Air Products and Chemicals, Inc. (NYSE:APD – Free Report) by 46.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,000 shares of the basic materials company’s stock after purchasing an additional 7,000 shares during the quarter. Air Products and Chemicals makes up 2.3% of Zenyatta Capital Management LP’s portfolio, making the stock its 16th biggest position. Zenyatta Capital Management LP’s holdings in Air Products and Chemicals were worth $6,024,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legacy Bridge LLC acquired a new position in shares of Air Products and Chemicals during the 4th quarter worth about $35,000. FinTrust Capital Advisors LLC grew its position in shares of Air Products and Chemicals by 40.4% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 132 shares of the basic materials company’s stock worth $37,000 after buying an additional 38 shares during the period. Artemis Wealth Advisors LLC acquired a new position in shares of Air Products and Chemicals during the 3rd quarter worth about $39,000. Fortitude Family Office LLC acquired a new position in shares of Air Products and Chemicals during the 4th quarter worth about $42,000. Finally, ICA Group Wealth Management LLC bought a new position in shares of Air Products and Chemicals during the 4th quarter valued at about $44,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.
Air Products and Chemicals Stock Up 0.7 %
Shares of Air Products and Chemicals stock traded up $1.57 on Friday, reaching $238.68. 1,588,696 shares of the company were exchanged, compared to its average volume of 1,336,356. 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 market capitalization of $53.06 billion, a price-to-earnings ratio of 22.77, a PEG ratio of 2.63 and a beta of 0.81. The company has a current ratio of 1.81, a quick ratio of 1.58 and a debt-to-equity ratio of 0.74. The company has a 50-day moving average of $236.90 and a 200 day moving average of $260.99.
Air Products and Chemicals (NYSE:APD – Get Free Report) last posted its earnings results on Monday, February 5th. The basic materials company reported $2.82 earnings per share for the quarter, missing analysts’ consensus estimates of $3.00 by ($0.18). The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.20 billion. Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. The firm’s revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.64 earnings per share. On average, equities research analysts forecast that Air Products and Chemicals, Inc. will post 12.38 earnings per share for the current year.
Air Products and Chemicals Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Monday, April 1st will be issued a dividend of $1.77 per share. The ex-dividend date is Thursday, March 28th. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.75. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.97%. Air Products and Chemicals’s payout ratio is presently 67.56%.
Analyst Upgrades and Downgrades
APD has been the topic of several recent analyst reports. Bank of America upgraded Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $264.00 price objective on the stock in a report on Thursday, February 15th. Mizuho cut their price objective on Air Products and Chemicals from $304.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, February 6th. Seaport Res Ptn cut Air Products and Chemicals from a “buy” rating to a “neutral” rating in a report on Tuesday, February 6th. TheStreet cut Air Products and Chemicals from a “b” rating to a “c+” rating in a report on Monday, February 5th. Finally, Morgan Stanley cut their target price on Air Products and Chemicals from $285.00 to $240.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $280.29.
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.