Burke & Herbert Bank & Trust Co. Takes Position in Air Products and Chemicals, Inc. (NYSE:APD)

Burke & Herbert Bank & Trust Co. purchased a new stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 4,400 shares of the basic materials company’s stock, valued at approximately $1,135,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Air Products and Chemicals in the fourth quarter worth approximately $27,000. Roble Belko & Company Inc purchased a new position in shares of Air Products and Chemicals in the fourth quarter worth approximately $27,000. Sachetta LLC purchased a new position in shares of Air Products and Chemicals in the fourth quarter worth approximately $27,000. Security National Bank purchased a new position in shares of Air Products and Chemicals in the fourth quarter worth approximately $27,000. Finally, Thompson Investment Management Inc. purchased a new position in shares of Air Products and Chemicals in the first quarter worth approximately $27,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analyst Ratings Changes

APD has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft downgraded shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $310.00 to $280.00 in a report on Monday, July 22nd. BMO Capital Markets raised their price objective on shares of Air Products and Chemicals from $300.00 to $323.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Citigroup lifted their price target on shares of Air Products and Chemicals from $280.00 to $305.00 and gave the company a “buy” rating in a report on Friday, July 12th. UBS Group lifted their price target on shares of Air Products and Chemicals from $257.00 to $268.00 and gave the company a “neutral” rating in a report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Air Products and Chemicals from $300.00 to $340.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $296.53.

Air Products and Chemicals Trading Up 1.0 %

NYSE APD traded up $2.72 on Tuesday, hitting $276.65. 695,254 shares of the stock were exchanged, compared to its average volume of 1,736,040. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.31 and a current ratio of 1.27. The stock has a fifty day moving average price of $267.37 and a two-hundred day moving average price of $250.77. The firm has a market capitalization of $61.50 billion, a P/E ratio of 24.97, a P/E/G ratio of 3.17 and a beta of 0.81. Air Products and Chemicals, Inc. has a 52-week low of $212.24 and a 52-week high of $307.71.

Air Products and Chemicals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, October 1st will be paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend is Tuesday, October 1st. Air Products and Chemicals’s payout ratio is 63.90%.

About Air Products and Chemicals

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.