866 Shares in Air Products and Chemicals, Inc. (NYSE:APD) Bought by Wedmont Private Capital

Wedmont Private Capital bought a new position in shares of Air Products and Chemicals, Inc. (NYSE:APDGet Rating) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 866 shares of the basic materials company’s stock, valued at approximately $208,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Air Products and Chemicals by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 19,964,806 shares of the basic materials company’s stock worth $4,989,404,000 after buying an additional 326,891 shares during the last quarter. BlackRock Inc. grew its stake in Air Products and Chemicals by 1.8% during the 1st quarter. BlackRock Inc. now owns 14,555,663 shares of the basic materials company’s stock valued at $3,637,608,000 after purchasing an additional 259,383 shares during the last quarter. State Street Corp grew its stake in Air Products and Chemicals by 0.4% during the 4th quarter. State Street Corp now owns 10,840,521 shares of the basic materials company’s stock valued at $3,314,420,000 after purchasing an additional 44,161 shares during the last quarter. Capital World Investors grew its stake in Air Products and Chemicals by 49.4% during the 4th quarter. Capital World Investors now owns 2,633,053 shares of the basic materials company’s stock valued at $801,133,000 after purchasing an additional 870,582 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in Air Products and Chemicals by 9.7% during the 1st quarter. Principal Financial Group Inc. now owns 1,566,964 shares of the basic materials company’s stock valued at $391,600,000 after purchasing an additional 139,061 shares during the last quarter. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Wells Fargo & Company dropped their price target on Air Products and Chemicals from $255.00 to $243.00 and set an “equal weight” rating on the stock in a research note on Monday, July 18th. BMO Capital Markets upgraded Air Products and Chemicals from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $283.00 to $321.00 in a research note on Monday, August 15th. Jefferies Financial Group dropped their price target on Air Products and Chemicals from $270.00 to $257.00 in a research note on Thursday, June 16th. Mizuho lowered their target price on Air Products and Chemicals from $312.00 to $286.00 and set a “buy” rating on the stock in a research note on Thursday, July 7th. Finally, Bank of America lowered their target price on Air Products and Chemicals from $272.00 to $271.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 13th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Air Products and Chemicals has a consensus rating of “Moderate Buy” and an average price target of $292.56.

Air Products and Chemicals Price Performance

APD stock opened at $244.89 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.87 and a quick ratio of 1.72. The business has a 50 day simple moving average of $250.89 and a 200-day simple moving average of $244.29. The firm has a market capitalization of $54.32 billion, a PE ratio of 23.87, a price-to-earnings-growth ratio of 1.69 and a beta of 0.79. 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 posted its quarterly earnings results on Thursday, August 4th. The basic materials company reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.61 by $0.01. The business had revenue of $3.19 billion during 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 business earned $2.31 earnings per share. Equities research analysts anticipate that Air Products and Chemicals, Inc. will post 10.29 earnings per share for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Monday, October 3rd will be given a $1.62 dividend. The ex-dividend date is Friday, September 30th. This represents a $6.48 annualized dividend and a yield of 2.65%. Air Products and Chemicals’s payout ratio is 63.16%.

About Air Products and Chemicals

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

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