Miracle Mile Advisors LLC Invests $222,000 in Air Products & Chemicals, Inc. (APD)

Miracle Mile Advisors LLC bought a new stake in Air Products & Chemicals, Inc. (NYSE:APD) in the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 1,162 shares of the basic materials company’s stock, valued at approximately $222,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Evermay Wealth Management LLC raised its position in Air Products & Chemicals by 3.5% in the first quarter. Evermay Wealth Management LLC now owns 1,472 shares of the basic materials company’s stock worth $281,000 after purchasing an additional 50 shares in the last quarter. Trustcore Financial Services LLC raised its position in Air Products & Chemicals by 3.2% in the first quarter. Trustcore Financial Services LLC now owns 1,610 shares of the basic materials company’s stock worth $307,000 after purchasing an additional 50 shares in the last quarter. Canandaigua National Bank & Trust Co. raised its position in Air Products & Chemicals by 2.3% in the first quarter. Canandaigua National Bank & Trust Co. now owns 2,394 shares of the basic materials company’s stock worth $457,000 after purchasing an additional 53 shares in the last quarter. Bank OZK raised its position in Air Products & Chemicals by 3.5% in the first quarter. Bank OZK now owns 1,561 shares of the basic materials company’s stock worth $298,000 after purchasing an additional 53 shares in the last quarter. Finally, Old North State Trust LLC raised its position in Air Products & Chemicals by 26.0% in the first quarter. Old North State Trust LLC now owns 276 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 57 shares in the last quarter. Institutional investors and hedge funds own 87.41% of the company’s stock.

Several research analysts recently issued reports on APD shares. UBS Group increased their price target on shares of Air Products & Chemicals from $215.00 to $224.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Bank of America raised shares of Air Products & Chemicals from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $170.00 to $215.00 in a research report on Thursday, April 25th. Credit Suisse Group increased their price target on shares of Air Products & Chemicals from $200.00 to $222.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. BMO Capital Markets increased their price target on shares of Air Products & Chemicals from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 9th. Finally, Barclays increased their price target on shares of Air Products & Chemicals from $184.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company. Air Products & Chemicals presently has a consensus rating of “Buy” and a consensus target price of $211.50.

NYSE APD opened at $209.92 on Friday. The company has a market cap of $46.21 billion, a PE ratio of 28.18, a PEG ratio of 2.17 and a beta of 0.83. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.36 and a quick ratio of 2.16. Air Products & Chemicals, Inc. has a 1-year low of $148.44 and a 1-year high of $210.15.

Air Products & Chemicals (NYSE:APD) last posted its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $1.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.88 by $0.04. The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.23 billion. Air Products & Chemicals had a net margin of 18.90% and a return on equity of 15.28%. The company’s revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the business posted $1.71 earnings per share. Equities analysts predict that Air Products & Chemicals, Inc. will post 8.22 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 12th. Stockholders of record on Monday, July 1st will be issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Friday, June 28th. Air Products & Chemicals’s payout ratio is 62.28%.

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About Air Products & Chemicals

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.

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Institutional Ownership by Quarter for Air Products & Chemicals (NYSE:APD)

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