Atlantic Union Bankshares Corp Reduces Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Atlantic Union Bankshares Corp reduced its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 12.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,902 shares of the basic materials company’s stock after selling 1,155 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Air Products and Chemicals were worth $2,039,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Sachetta LLC bought a new stake in shares of Air Products and Chemicals in the 4th quarter worth about $27,000. Security National Bank acquired a new position in shares of Air Products and Chemicals during the fourth quarter valued at $27,000. Transcendent Capital Group LLC bought a new position in shares of Air Products and Chemicals during the fourth quarter worth about $28,000. Thompson Investment Management Inc. acquired a new stake in shares of Air Products and Chemicals in the 1st quarter worth about $27,000. Finally, Stuart Chaussee & Associates Inc. lifted its position in Air Products and Chemicals by 257.6% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 118 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 85 shares during the last quarter. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Trading Up 0.5 %

Shares of NYSE APD opened at $275.86 on Friday. The company has a quick ratio of 1.31, a current ratio of 1.27 and a debt-to-equity ratio of 0.77. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $307.71. The company has a market cap of $61.33 billion, a price-to-earnings ratio of 24.90, a P/E/G ratio of 3.17 and a beta of 0.81. The business has a fifty day simple moving average of $266.97 and a 200-day simple moving average of $252.41.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data on Thursday, August 1st. The basic materials company reported $3.20 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.16. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.04 billion. Sell-side analysts predict that Air Products and Chemicals, Inc. will post 12.29 EPS for the current year.

Air Products and Chemicals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, October 1st will be paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date is Tuesday, October 1st. Air Products and Chemicals’s dividend payout ratio is 63.90%.

Analysts Set New Price Targets

APD has been the topic of a number of recent analyst reports. Bank of America lifted their price target on Air Products and Chemicals from $275.00 to $312.00 and gave the company a “buy” rating in a report on Monday, June 10th. JPMorgan Chase & Co. increased their price target on Air Products and Chemicals from $300.00 to $340.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. StockNews.com upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Tuesday, August 20th. BMO Capital Markets increased their target price on shares of Air Products and Chemicals from $300.00 to $323.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, TD Cowen boosted their price target on shares of Air Products and Chemicals from $305.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Air Products and Chemicals has a consensus rating of “Hold” and an average price target of $297.40.

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; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.