State of Alaska Department of Revenue Buys 1,290 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

State of Alaska Department of Revenue increased its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APDGet Rating) by 3.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 39,282 shares of the basic materials company’s stock after buying an additional 1,290 shares during the quarter. State of Alaska Department of Revenue’s holdings in Air Products and Chemicals were worth $9,445,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Connecticut Wealth Management LLC lifted its position in shares of Air Products and Chemicals by 1.4% during the 1st quarter. Connecticut Wealth Management LLC now owns 3,014 shares of the basic materials company’s stock worth $753,000 after buying an additional 41 shares during the last quarter. Mascoma Wealth Management LLC lifted its position in shares of Air Products and Chemicals by 13.4% during the 1st quarter. Mascoma Wealth Management LLC now owns 355 shares of the basic materials company’s stock worth $89,000 after buying an additional 42 shares during the last quarter. Clearstead Advisors LLC lifted its position in shares of Air Products and Chemicals by 0.7% during the 1st quarter. Clearstead Advisors LLC now owns 6,316 shares of the basic materials company’s stock worth $1,578,000 after buying an additional 44 shares during the last quarter. Carolinas Wealth Consulting LLC lifted its position in shares of Air Products and Chemicals by 25.6% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 221 shares of the basic materials company’s stock worth $67,000 after buying an additional 45 shares during the last quarter. Finally, Field & Main Bank lifted its position in shares of Air Products and Chemicals by 1.8% during the 1st quarter. Field & Main Bank now owns 2,562 shares of the basic materials company’s stock worth $640,000 after buying an additional 45 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

APD has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on Air Products and Chemicals from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. BMO Capital Markets raised Air Products and Chemicals from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $283.00 to $321.00 in a report on Monday, August 15th. JPMorgan Chase & Co. upped their target price on Air Products and Chemicals from $275.00 to $295.00 in a report on Friday, August 5th. Cowen lowered their target price on Air Products and Chemicals from $345.00 to $305.00 and set an “outperform” rating for the company in a report on Tuesday, July 19th. Finally, Citigroup upped their target price on Air Products and Chemicals to $272.00 in a report on Monday, August 15th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, 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 %

Shares of APD stock opened at $247.36 on Monday. The stock has a market cap of $54.86 billion, a price-to-earnings ratio of 24.11, a PEG ratio of 1.69 and a beta of 0.79. The stock has a 50-day moving average of $250.58 and a 200-day moving average of $244.06. The company has a current ratio of 1.87, a quick ratio of 1.72 and a debt-to-equity ratio of 0.48. Air Products and Chemicals, Inc. has a 1-year low of $216.24 and a 1-year high of $316.39.

Air Products and Chemicals (NYSE:APDGet Rating) last released its earnings results on Thursday, August 4th. The basic materials company reported $2.62 EPS for the quarter, topping the consensus estimate of $2.61 by $0.01. Air Products and Chemicals had a return on equity of 15.61% and a net margin of 19.08%. The business had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.02 billion. During the same quarter last year, the firm posted $2.31 earnings per share. The firm’s revenue was up 22.4% on a year-over-year basis. On average, equities research analysts forecast that Air Products and Chemicals, Inc. will post 10.29 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Monday, October 3rd will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, September 30th. This represents a $6.48 annualized dividend and a yield of 2.62%. Air Products and Chemicals’s dividend payout ratio is currently 63.16%.

Air Products and Chemicals Profile

(Get Rating)

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.

Further Reading

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

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