Viking Fund Management LLC Buys 1,000 Shares of Air Products & Chemicals, Inc. (APD)
Viking Fund Management LLC raised its stake in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 8.0% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 13,500 shares of the basic materials company’s stock after buying an additional 1,000 shares during the period. Viking Fund Management LLC’s holdings in Air Products & Chemicals were worth $2,578,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the stock. LPL Financial LLC increased its position in shares of Air Products & Chemicals by 12.0% during the 3rd quarter. LPL Financial LLC now owns 16,193 shares of the basic materials company’s stock worth $2,705,000 after purchasing an additional 1,738 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Air Products & Chemicals by 15.5% in the 3rd quarter. Pacer Advisors Inc. now owns 11,728 shares of the basic materials company’s stock valued at $1,959,000 after purchasing an additional 1,576 shares during the last quarter. EP Wealth Advisors LLC bought a new position in Air Products & Chemicals during the 3rd quarter worth approximately $212,000. Wakefield Asset Management LLLP bought a new position in Air Products & Chemicals during the 3rd quarter worth approximately $365,000. Finally, Halsey Associates Inc. CT raised its holdings in Air Products & Chemicals by 20.3% during the 3rd quarter. Halsey Associates Inc. CT now owns 56,132 shares of the basic materials company’s stock worth $9,377,000 after buying an additional 9,462 shares during the period. Hedge funds and other institutional investors own 87.49% of the company’s stock.
A number of research firms have recently issued reports on APD. Zacks Investment Research downgraded shares of Air Products & Chemicals from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. KeyCorp lifted their price objective on shares of Air Products & Chemicals from $195.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday. BMO Capital Markets lifted their price objective 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. Credit Suisse Group boosted their target price on shares of Air Products & Chemicals from $188.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. Finally, Bank of America cut shares of Air Products & Chemicals from a “neutral” rating to an “underperform” rating and set a $170.00 price objective for the company. in a research report on Tuesday, January 8th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $194.20.
Air Products & Chemicals (NYSE:APD) last posted its earnings results on Friday, January 25th. The basic materials company reported $1.86 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.87 by ($0.01). Air Products & Chemicals had a net margin of 18.92% and a return on equity of 15.13%. The business had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same period last year, the firm posted $1.79 earnings per share. Air Products & Chemicals’s quarterly revenue was up .3% on a year-over-year basis. Sell-side analysts expect that Air Products & Chemicals, Inc. will post 8.18 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, April 1st will be issued a dividend of $1.16 per share. This is an increase from Air Products & Chemicals’s previous quarterly dividend of $1.10. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Friday, March 29th. Air Products & Chemicals’s dividend payout ratio is presently 62.28%.
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.
See Also: Outstanding Shares
Want to see what other hedge funds are holding APD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Air Products & Chemicals, Inc. (NYSE:APD).
Receive News & Ratings for Air Products & Chemicals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Air Products & Chemicals and related companies with MarketBeat.com's FREE daily email newsletter.