Mackenzie Financial Corp Has $7.92 Million Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Mackenzie Financial Corp lowered its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 66.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,938 shares of the basic materials company’s stock after selling 58,196 shares during the period. Mackenzie Financial Corp’s holdings in Air Products and Chemicals were worth $7,923,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Dover Advisors LLC grew its holdings in shares of Air Products and Chemicals by 1.9% in the 3rd quarter. Dover Advisors LLC now owns 1,894 shares of the basic materials company’s stock valued at $540,000 after acquiring an additional 35 shares in the last quarter. Smithfield Trust Co increased its position in shares of Air Products and Chemicals by 2.4% in the third quarter. Smithfield Trust Co now owns 1,566 shares of the basic materials company’s stock valued at $444,000 after acquiring an additional 36 shares during the period. Vestcor Inc lifted its stake in shares of Air Products and Chemicals by 0.7% in the fourth quarter. Vestcor Inc now owns 5,261 shares of the basic materials company’s stock worth $1,622,000 after buying an additional 37 shares in the last quarter. Salem Investment Counselors Inc. increased its stake in shares of Air Products and Chemicals by 25.9% in the fourth quarter. Salem Investment Counselors Inc. now owns 180 shares of the basic materials company’s stock worth $56,000 after purchasing an additional 37 shares in the last quarter. Finally, Harbour Investments Inc. increased its stake in Air Products and Chemicals by 4.8% in the 2nd quarter. Harbour Investments Inc. now owns 832 shares of the basic materials company’s stock worth $249,000 after buying an additional 38 shares during the period. Institutional investors own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on APD. BMO Capital Markets reduced their price target on shares of Air Products and Chemicals from $307.00 to $250.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 6th. Mizuho decreased 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. Morgan Stanley dropped 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 report on Wednesday, February 7th. Bank of America upgraded Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $264.00 target price for the company in a research note on Thursday, February 15th. Finally, Seaport Res Ptn lowered shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating in a report on Tuesday, February 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Air Products and Chemicals currently has an average rating of “Hold” and an average target price of $276.36.

Air Products and Chemicals Stock Down 0.6 %

Shares of Air Products and Chemicals stock opened at $231.67 on Friday. The company has a market cap of $51.50 billion, a P/E ratio of 22.11, a PEG ratio of 2.52 and a beta of 0.81. The company’s fifty day simple moving average is $235.88 and its two-hundred day simple moving average is $257.47. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $307.71. The company has a current ratio of 1.81, a quick ratio of 1.58 and a debt-to-equity ratio of 0.74.

Air Products and Chemicals (NYSE:APD) last released its 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 return on equity of 16.84% and a net margin of 18.82%. The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.20 billion. During the same quarter last year, the business posted $2.64 earnings per share. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. Research analysts anticipate that Air Products and Chemicals, Inc. will post 12.38 EPS for the current year.

Air Products and Chemicals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, April 1st will be issued a $1.77 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $7.08 dividend on an annualized basis and a dividend yield of 3.06%. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.75. Air Products and Chemicals’s dividend payout ratio is presently 67.56%.

About Air Products and Chemicals

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.