Zurcher Kantonalbank Zurich Cantonalbank Has $23.32 Million Position in Air Products and Chemicals, Inc. (NYSE:APD)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 4.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,173 shares of the basic materials company’s stock after purchasing an additional 3,491 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Air Products and Chemicals were worth $23,320,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Air Products and Chemicals in the 4th quarter worth about $27,000. Legacy Bridge LLC bought a new position in Air Products and Chemicals during the fourth quarter worth about $35,000. FinTrust Capital Advisors LLC boosted its position in Air Products and Chemicals by 40.4% during the third quarter. FinTrust Capital Advisors LLC now owns 132 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 38 shares during the period. Artemis Wealth Advisors LLC bought a new position in Air Products and Chemicals during the third quarter worth about $39,000. Finally, Fortitude Family Office LLC bought a new position in Air Products and Chemicals during the fourth quarter worth about $42,000. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Up 0.6 %

NYSE APD opened at $229.08 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.58 and a current ratio of 1.81. The company has a market capitalization of $50.92 billion, a P/E ratio of 21.86, a P/E/G ratio of 2.54 and a beta of 0.81. Air Products and Chemicals, Inc. has a one year low of $212.24 and a one year high of $307.71. The stock has a 50 day moving average price of $235.38 and a 200-day moving average price of $257.98.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings results on Monday, February 5th. The basic materials company reported $2.82 EPS for the quarter, missing the consensus estimate of $3.00 by ($0.18). Air Products and Chemicals had a net margin of 18.82% and a return on equity of 16.84%. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.20 billion. During the same quarter in the prior year, the business posted $2.64 EPS. The business’s quarterly revenue was down 5.6% on a year-over-year basis. As a group, equities analysts predict that Air Products and Chemicals, Inc. will post 12.38 EPS for the current fiscal year.

Air Products and Chemicals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Monday, April 1st will be given a dividend of $1.77 per share. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.75. This represents a $7.08 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Thursday, March 28th. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 67.56%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on APD. Citigroup increased their target price on shares of Air Products and Chemicals from $260.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Wolfe Research began coverage on shares of Air Products and Chemicals in a research report on Friday, March 1st. They issued an “outperform” rating and a $279.00 price objective for the company. Argus lowered shares of Air Products and Chemicals from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Morgan Stanley cut their price objective on shares of Air Products and Chemicals from $285.00 to $240.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 7th. Finally, Mizuho cut their price objective on shares of Air Products and Chemicals from $304.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Air Products and Chemicals currently has an average rating of “Hold” and a consensus target price of $276.36.

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.