American National Bank increased its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD – Free Report) by 8,012.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,977 shares of the basic materials company’s stock after purchasing an additional 6,891 shares during the quarter. American National Bank’s holdings in Air Products and Chemicals were worth $2,090,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in APD. Marcum Wealth LLC increased its stake in shares of Air Products and Chemicals by 14.7% in the first quarter. Marcum Wealth LLC now owns 1,118 shares of the basic materials company’s stock worth $321,000 after acquiring an additional 143 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Air Products and Chemicals by 399.0% during the 2nd quarter. Nordea Investment Management AB now owns 70,382 shares of the basic materials company’s stock worth $20,849,000 after purchasing an additional 56,278 shares in the last quarter. Ledyard National Bank lifted its holdings in shares of Air Products and Chemicals by 3.5% during the 1st quarter. Ledyard National Bank now owns 1,782 shares of the basic materials company’s stock valued at $512,000 after buying an additional 60 shares during the last quarter. Csenge Advisory Group grew its stake in shares of Air Products and Chemicals by 102.7% in the 1st quarter. Csenge Advisory Group now owns 1,330 shares of the basic materials company’s stock valued at $382,000 after buying an additional 674 shares in the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC increased its holdings in Air Products and Chemicals by 1,540.0% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 164 shares of the basic materials company’s stock worth $47,000 after buying an additional 154 shares during the last quarter. 82.62% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research analysts have recently commented on APD shares. StockNews.com initiated coverage on shares of Air Products and Chemicals in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Mizuho increased their target price on shares of Air Products and Chemicals from $322.00 to $330.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Finally, Citigroup initiated coverage on Air Products and Chemicals in a research report on Tuesday, June 13th. They issued a “buy” rating and a $317.00 price target for the company. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $318.93.
Air Products and Chemicals Price Performance
NYSE:APD opened at $299.55 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.36 and a quick ratio of 1.19. The stock has a market cap of $66.55 billion, a P/E ratio of 30.47, a PEG ratio of 2.57 and a beta of 0.87. The company has a fifty day moving average price of $294.36 and a 200 day moving average price of $287.74. Air Products and Chemicals, Inc. has a one year low of $224.75 and a one year high of $328.56.
Air Products and Chemicals (NYSE:APD – Get Free Report) last released its earnings results on Thursday, August 3rd. The basic materials company reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.07. Air Products and Chemicals had a net margin of 16.88% and a return on equity of 17.18%. The business had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.29 billion. During the same quarter last year, the company earned $2.62 earnings per share. The firm’s revenue was down 4.9% on a year-over-year basis. Analysts anticipate that Air Products and Chemicals, Inc. will post 11.47 earnings per share for the current year.
Air Products and Chemicals Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Monday, October 2nd will be given a $1.75 dividend. The ex-dividend date is Friday, September 29th. This represents a $7.00 annualized dividend and a yield of 2.34%. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 71.21%.
Air Products and Chemicals Company 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; 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, manufacturing, electronics, magnetic resonance imaging, energy production, medical, food, and metals.
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