Flagship Harbor Advisors LLC Has $912,000 Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Flagship Harbor Advisors LLC boosted its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 1.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,093 shares of the basic materials company’s stock after purchasing an additional 43 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Air Products and Chemicals were worth $912,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Parvin Asset Management LLC bought a new position in Air Products and Chemicals in the 4th quarter valued at about $715,000. Ritholtz Wealth Management increased its holdings in Air Products and Chemicals by 20.9% in the 1st quarter. Ritholtz Wealth Management now owns 1,603 shares of the basic materials company’s stock valued at $473,000 after buying an additional 277 shares during the period. Mantle Ridge LP bought a new position in Air Products and Chemicals in the 4th quarter valued at about $1,191,344,000. Proficio Capital Partners LLC bought a new position in Air Products and Chemicals in the 4th quarter valued at about $246,000. Finally, Allstate Corp bought a new stake in shares of Air Products and Chemicals during the 4th quarter valued at approximately $1,917,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Stock Up 2.8%

Shares of NYSE APD opened at $280.91 on Wednesday. The company has a market capitalization of $62.51 billion, a P/E ratio of 40.83, a price-to-earnings-growth ratio of 5.24 and a beta of 0.86. Air Products and Chemicals, Inc. has a 52-week low of $243.69 and a 52-week high of $341.14. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.85 and a current ratio of 1.00. The company’s 50 day moving average price is $273.26 and its 200-day moving average price is $291.59.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported $2.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.14). The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.94 billion. Air Products and Chemicals had a return on equity of 15.48% and a net margin of 12.76%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the firm posted $2.85 EPS. Equities analysts forecast that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Tuesday, July 1st will be given a dividend of $1.79 per share. The ex-dividend date is Tuesday, July 1st. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.55%. Air Products and Chemicals’s payout ratio is presently 104.07%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on APD shares. Bank of America lowered shares of Air Products and Chemicals from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $330.00 to $282.00 in a report on Tuesday, April 15th. Royal Bank Of Canada started coverage on shares of Air Products and Chemicals in a report on Friday, June 13th. They set an “outperform” rating and a $355.00 price target on the stock. Barclays decreased their price target on shares of Air Products and Chemicals from $355.00 to $325.00 and set an “overweight” rating on the stock in a report on Friday, May 2nd. Citigroup decreased their price target on shares of Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. Finally, Morgan Stanley assumed coverage on shares of Air Products and Chemicals in a report on Thursday, May 29th. They set an “equal weight” rating and a $290.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $332.41.

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.