Millennium Management LLC decreased its holdings in Air Products & Chemicals, Inc. (NYSE:APD) by 14.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,035,807 shares of the basic materials company’s stock after selling 170,235 shares during the quarter. Millennium Management LLC’s holdings in Air Products & Chemicals were worth $169,955,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Virtue Capital Management LLC purchased a new position in Air Products & Chemicals in the 4th quarter worth about $100,000. Cerebellum GP LLC purchased a new position in Air Products & Chemicals in the 4th quarter worth about $129,000. Tortoise Investment Management LLC raised its position in Air Products & Chemicals by 3,369.6% in the 3rd quarter. Tortoise Investment Management LLC now owns 798 shares of the basic materials company’s stock worth $121,000 after buying an additional 775 shares during the last quarter. Prentiss Smith & Co. Inc. purchased a new position in Air Products & Chemicals in the 4th quarter worth about $139,000. Finally, Independence Bank of Kentucky purchased a new position in Air Products & Chemicals in the 4th quarter worth about $195,000. 87.80% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have weighed in on the company. Zacks Investment Research raised Air Products & Chemicals from a “hold” rating to a “buy” rating and set a $192.00 target price for the company in a research report on Monday. JPMorgan Chase & Co. raised Air Products & Chemicals from a “neutral” rating to an “overweight” rating in a research report on Friday, February 9th. Citigroup boosted their price target on Air Products & Chemicals from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. KeyCorp boosted their price target on Air Products & Chemicals from $175.00 to $184.00 and gave the company an “overweight” rating in a research note on Tuesday, January 30th. Finally, Seaport Global Securities restated a “buy” rating and set a $185.00 price target on shares of Air Products & Chemicals in a research note on Monday, January 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $179.19.
Shares of Air Products & Chemicals, Inc. (NYSE:APD) opened at $170.93 on Wednesday. The stock has a market capitalization of $37,412.35, a PE ratio of 13.16, a price-to-earnings-growth ratio of 1.43 and a beta of 1.22. Air Products & Chemicals, Inc. has a 52 week low of $133.63 and a 52 week high of $175.17. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.73 and a current ratio of 2.92.
Air Products & Chemicals (NYSE:APD) last announced its quarterly earnings data on Friday, January 26th. The basic materials company reported $1.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.66 by $0.13. The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.12 billion. Air Products & Chemicals had a return on equity of 14.80% and a net margin of 33.51%. The firm’s revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.47 EPS. equities research analysts anticipate that Air Products & Chemicals, Inc. will post 7.32 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 14th. Investors of record on Monday, April 2nd will be paid a dividend of $1.10 per share. The ex-dividend date is Thursday, March 29th. This is an increase from Air Products & Chemicals’s previous quarterly dividend of $0.95. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.57%. Air Products & Chemicals’s payout ratio is 29.25%.
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Air Products & Chemicals Profile
Air Products and Chemicals, Inc, is an industrial gases company. The Company’s Industrial Gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. The Company is also a supplier of liquefied natural gas process technology and equipment.
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