Massmutual Trust Co. FSB ADV lifted its position in Air Products and Chemicals, Inc. (NYSE:APD – Get Rating) by 132.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,114 shares of the basic materials company’s stock after acquiring an additional 4,050 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Air Products and Chemicals were worth $1,711,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. bought a new position in Air Products and Chemicals in the 1st quarter worth approximately $30,000. Rise Advisors LLC increased its holdings in shares of Air Products and Chemicals by 57.7% during the first quarter. Rise Advisors LLC now owns 123 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 45 shares during the period. Rational Advisors LLC raised its stake in shares of Air Products and Chemicals by 68.6% during the first quarter. Rational Advisors LLC now owns 145 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 59 shares in the last quarter. Quent Capital LLC acquired a new stake in Air Products and Chemicals in the fourth quarter worth about $40,000. Finally, FinTrust Capital Advisors LLC grew its position in Air Products and Chemicals by 617.4% in the 1st quarter. FinTrust Capital Advisors LLC now owns 165 shares of the basic materials company’s stock valued at $41,000 after buying an additional 142 shares in the last quarter. Institutional investors own 82.68% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on APD. Cowen reduced their price target on shares of Air Products and Chemicals from $345.00 to $305.00 in a research note on Tuesday, July 19th. Citigroup lifted their price target on Air Products and Chemicals to $272.00 in a research report on Monday, August 15th. JPMorgan Chase & Co. upped their price objective on Air Products and Chemicals from $275.00 to $295.00 in a report on Friday, August 5th. Jefferies Financial Group lowered their target price on Air Products and Chemicals from $270.00 to $257.00 in a report on Thursday, June 16th. Finally, Mizuho cut their price target on shares of Air Products and Chemicals from $312.00 to $286.00 and set a “buy” rating for the company in a report on Thursday, July 7th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $292.56.
Air Products and Chemicals Trading Down 0.4 %
Air Products and Chemicals (NYSE:APD – Get Rating) last issued its earnings results on Thursday, August 4th. The basic materials company reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.61 by $0.01. The company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.02 billion. Air Products and Chemicals had a return on equity of 15.61% and a net margin of 19.08%. The business’s revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.31 EPS. As a group, sell-side analysts anticipate that Air Products and Chemicals, Inc. will post 10.29 earnings per share for the current fiscal year.
Air Products and Chemicals Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 14th. Stockholders of record on Monday, October 3rd will be issued a dividend of $1.62 per share. The ex-dividend date is Friday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.62%. Air Products and Chemicals’s dividend payout ratio is currently 63.16%.
About Air Products and 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, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, 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, gasification, metals, manufacturing, food and beverage, electronics, magnetic resonance imaging, energy production and refining, and metals.
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