Heritage Wealth Management LLC Buys 4,662 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Jul 03, 2023

Heritage Wealth Management LLC grew its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Get Rating) by 21,190.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,684 shares of the basic materials company's stock after acquiring an additional 4,662 shares during the period. Heritage Wealth Management LLC's holdings in Air Products and Chemicals were worth $1,444,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Armstrong Advisory Group Inc. purchased a new position in Air Products and Chemicals in the fourth quarter worth $27,000. Delta Asset Management LLC TN purchased a new stake in shares of Air Products and Chemicals during the fourth quarter valued at $28,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new stake in shares of Air Products and Chemicals during the fourth quarter valued at $34,000. Align Wealth Management LLC purchased a new stake in shares of Air Products and Chemicals during the fourth quarter valued at $29,000. Finally, Salem Investment Counselors Inc. boosted its holdings in Air Products and Chemicals by 232.6% in the third quarter. Salem Investment Counselors Inc. now owns 143 shares of the basic materials company's stock valued at $34,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 82.74% of the company's stock.

Shares of Air Products and Chemicals stock traded up $7.73 during mid-day trading on Friday, hitting $280.90. The stock had a trading volume of 394,864 shares, compared to its average volume of 1,008,351. The firm has a 50-day moving average of $282.59 and a two-hundred day moving average of $293.90. Air Products and Chemicals, Inc. has a 12-month low of $218.88 and a 12-month high of $328.56. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 0.61. The firm has a market cap of $62.39 billion, a P/E ratio of 27.93, a price-to-earnings-growth ratio of 2.48 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD - Get Rating) last posted its quarterly earnings results on Tuesday, May 9th. The basic materials company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.10. Air Products and Chemicals had a net margin of 16.58% and a return on equity of 16.96%. The business had revenue of $3.20 billion during the quarter, compared to analysts' expectations of $3.08 billion. During the same quarter in the prior year, the company posted $2.38 EPS. The business's revenue for the quarter was up 8.7% on a year-over-year basis. Sell-side analysts forecast that Air Products and Chemicals, Inc. will post 11.42 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, July 3rd will be given a dividend of $1.75 per share. The ex-dividend date of this dividend is Friday, June 30th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 2.49%. Air Products and Chemicals's payout ratio is currently 71.57%.

Several equities research analysts have commented on the stock. Citigroup lowered their price target on shares of Air Products and Chemicals from $339.00 to $329.00 and set a "neutral" rating on the stock in a report on Friday, February 3rd. Vertical Research upgraded shares of Air Products and Chemicals from a "hold" rating to a "buy" rating in a research report on Monday, March 13th. StockNews.com assumed coverage on shares of Air Products and Chemicals in a research report on Thursday, May 18th. They issued a "hold" rating for the company. Morgan Stanley decreased their price objective on shares of Air Products and Chemicals from $335.00 to $315.00 and set an "equal weight" rating for the company in a research report on Monday, February 6th. Finally, Evercore ISI upped their price target on shares of Air Products and Chemicals from $295.00 to $305.00 and gave the stock an "in-line" rating in a research report on Tuesday, March 7th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Air Products and Chemicals currently has an average rating of "Hold" and a consensus target price of $312.83.

Air Products & Chemicals, Inc engages in the manufacture and distribution of atmospheric gases. It operates through the following segments: Industrial Gases-Americas, Industrial Gases-EMEA (Europe, Middle East, and Africa), Industrial Gases-Asia, Industrial Gases-Global, and Corporate & Other. The Industrial Gases-America, EMEA, and Asia segment markets and produces atmospheric gases, such as 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 and processing of gases, such as air separation units and non-cryogenic generators.

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