Norden Group LLC Acquires 34,465 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Norden Group LLC lifted its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 2,134.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,080 shares of the basic materials company’s stock after buying an additional 34,465 shares during the quarter. Norden Group LLC’s holdings in Air Products and Chemicals were worth $8,739,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Creative Financial Designs Inc. ADV raised its stake in shares of Air Products and Chemicals by 1.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,636 shares of the basic materials company’s stock worth $996,000 after purchasing an additional 38 shares in the last quarter. Venture Visionary Partners LLC raised its stake in shares of Air Products and Chemicals by 1.5% during the 4th quarter. Venture Visionary Partners LLC now owns 2,907 shares of the basic materials company’s stock worth $796,000 after purchasing an additional 43 shares in the last quarter. Applied Capital LLC FL raised its stake in shares of Air Products and Chemicals by 2.0% during the 4th quarter. Applied Capital LLC FL now owns 2,223 shares of the basic materials company’s stock worth $609,000 after purchasing an additional 43 shares in the last quarter. Mycio Wealth Partners LLC raised its stake in shares of Air Products and Chemicals by 0.6% during the 4th quarter. Mycio Wealth Partners LLC now owns 7,044 shares of the basic materials company’s stock worth $1,929,000 after purchasing an additional 44 shares in the last quarter. Finally, Werlinich Asset Management LLC raised its stake in shares of Air Products and Chemicals by 3.0% during the 4th quarter. Werlinich Asset Management LLC now owns 1,563 shares of the basic materials company’s stock worth $431,000 after purchasing an additional 45 shares in the last quarter. 81.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on APD shares. StockNews.com upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Saturday, June 29th. JPMorgan Chase & Co. dropped their price target on Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft increased their price target on Air Products and Chemicals from $260.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Citigroup dropped their price target on Air Products and Chemicals from $285.00 to $280.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Finally, Mizuho dropped their price target on Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $287.29.

Air Products and Chemicals Stock Performance

APD opened at $253.00 on Friday. The firm has a market cap of $56.24 billion, a P/E ratio of 22.83, a price-to-earnings-growth ratio of 2.72 and a beta of 0.81. Air Products and Chemicals, Inc. has a 52-week low of $212.24 and a 52-week high of $307.71. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.31 and a current ratio of 1.49. The business’s fifty day moving average is $260.69 and its 200-day moving average is $251.41.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.15. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $3.05 billion. Air Products and Chemicals had a return on equity of 16.56% and a net margin of 20.32%. Air Products and Chemicals’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.74 EPS. Sell-side analysts expect that Air Products and Chemicals, Inc. will post 12.3 EPS for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 12th. Investors of record on Monday, July 1st will be paid a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.80%. The ex-dividend date is Monday, July 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 63.90%.

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.