First Pacific Financial Increases Stake in Air Products and Chemicals, Inc. (NYSE:APD)

First Pacific Financial increased its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 6.5% during the second quarter, Holdings Channel reports. The institutional investor owned 4,090 shares of the basic materials company’s stock after buying an additional 248 shares during the quarter. First Pacific Financial’s holdings in Air Products and Chemicals were worth $1,055,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Rakuten Securities Inc. acquired a new position in shares of Air Products and Chemicals during the 4th quarter worth about $33,000. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Air Products and Chemicals by 50.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 663 shares of the basic materials company’s stock worth $183,000 after purchasing an additional 221 shares during the last quarter. Xponance Inc. boosted its holdings in Air Products and Chemicals by 7.6% in the fourth quarter. Xponance Inc. now owns 30,092 shares of the basic materials company’s stock valued at $8,239,000 after purchasing an additional 2,137 shares in the last quarter. Fidelis Capital Partners LLC increased its stake in Air Products and Chemicals by 42.6% in the fourth quarter. Fidelis Capital Partners LLC now owns 2,790 shares of the basic materials company’s stock valued at $764,000 after purchasing an additional 833 shares during the last quarter. Finally, HTLF Bank acquired a new stake in Air Products and Chemicals during the fourth quarter worth approximately $200,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

APD has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their target price 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. Wells Fargo & Company raised their price objective on Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. BMO Capital Markets boosted their target price on Air Products and Chemicals from $300.00 to $323.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Mizuho decreased their target price on Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Finally, UBS Group lifted their price target on Air Products and Chemicals from $257.00 to $268.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Air Products and Chemicals currently has an average rating of “Hold” and a consensus target price of $296.53.

Air Products and Chemicals Stock Performance

NYSE:APD traded down $1.87 during midday trading on Monday, reaching $274.17. The stock had a trading volume of 547,989 shares, compared to its average volume of 1,711,018. The company has a quick ratio of 1.31, a current ratio of 1.27 and a debt-to-equity ratio of 0.77. The stock has a market cap of $60.95 billion, a P/E ratio of 24.74, a P/E/G ratio of 3.17 and a beta of 0.81. The firm has a fifty day simple moving average of $267.47 and a two-hundred day simple moving average of $251.33. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $307.71.

Air Products and Chemicals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, October 1st will be issued a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.58%. The ex-dividend date is Tuesday, October 1st. Air Products and Chemicals’s payout ratio is 63.90%.

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.