Spring Capital Management LLC Has $4.84 Million Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Spring Capital Management LLC boosted its position in Air Products and Chemicals, Inc. (NYSE:APD) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,692 shares of the basic materials company’s stock after acquiring an additional 379 shares during the quarter. Air Products and Chemicals accounts for 3.8% of Spring Capital Management LLC’s holdings, making the stock its 12th largest holding. Spring Capital Management LLC’s holdings in Air Products and Chemicals were worth $4,844,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of APD. Cibc World Market Inc. increased its stake in shares of Air Products and Chemicals by 6.9% in the 1st quarter. Cibc World Market Inc. now owns 1,180 shares of the basic materials company’s stock valued at $295,000 after purchasing an additional 76 shares during the last quarter. Prudential PLC bought a new stake in Air Products and Chemicals during the 1st quarter worth $1,010,000. Cetera Investment Advisers grew its position in Air Products and Chemicals by 22.3% during the 1st quarter. Cetera Investment Advisers now owns 5,890 shares of the basic materials company’s stock worth $1,472,000 after acquiring an additional 1,075 shares during the last quarter. Baird Financial Group Inc. grew its position in Air Products and Chemicals by 4.4% during the 1st quarter. Baird Financial Group Inc. now owns 105,875 shares of the basic materials company’s stock worth $26,459,000 after acquiring an additional 4,470 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its position in shares of Air Products and Chemicals by 17.1% in the 1st quarter. Parkside Financial Bank & Trust now owns 755 shares of the basic materials company’s stock valued at $188,000 after buying an additional 110 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on APD shares. UBS Group lowered Air Products and Chemicals from a “buy” rating to a “neutral” rating and reduced their price target for the company from $328.00 to $241.00 in a research report on Thursday, February 8th. BMO Capital Markets dropped their price target on Air Products and Chemicals from $307.00 to $250.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 6th. Wolfe Research initiated coverage on Air Products and Chemicals in a research note on Friday, March 1st. They set an “outperform” rating and a $279.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on Air Products and Chemicals from $295.00 to $270.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 6th. Finally, Mizuho lowered their price objective on Air Products and Chemicals from $304.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $280.29.

Air Products and Chemicals Trading Down 0.7 %

NYSE:APD opened at $241.33 on Thursday. The company has a market cap of $53.65 billion, a P/E ratio of 23.19, a P/E/G ratio of 2.62 and a beta of 0.81. The stock’s fifty day moving average price is $240.12 and its two-hundred day moving average price is $264.16. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $307.71. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.81 and a quick ratio of 1.58.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings data on Monday, February 5th. The basic materials company reported $2.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $3.20 billion. During the same quarter last year, the business posted $2.64 EPS. The company’s quarterly revenue was down 5.6% on a year-over-year basis. As a group, analysts expect that Air Products and Chemicals, Inc. will post 12.38 EPS for the current year.

Air Products and Chemicals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, April 1st will be given a dividend of $1.77 per share. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.75. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $7.08 dividend on an annualized basis and a yield of 2.93%. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 66.79%.

Air Products and Chemicals 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.