Air Products and Chemicals, Inc. (NYSE:APD) Stake Raised by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC lifted its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 2.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,763 shares of the basic materials company’s stock after purchasing an additional 39 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Air Products and Chemicals were worth $455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in APD. Sachetta LLC acquired a new position in Air Products and Chemicals in the 4th quarter worth about $27,000. Security National Bank bought a new position in Air Products and Chemicals in the 4th quarter worth $27,000. Thompson Investment Management Inc. acquired a new position in Air Products and Chemicals during the 1st quarter worth $27,000. Transcendent Capital Group LLC bought a new stake in Air Products and Chemicals during the fourth quarter valued at about $28,000. Finally, Hexagon Capital Partners LLC boosted its position in shares of Air Products and Chemicals by 2,250.0% in the first quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 135 shares during the period. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Air Products and Chemicals Price Performance

Shares of NYSE APD traded up $2.98 during mid-day trading on Monday, hitting $278.84. 1,058,396 shares of the stock were exchanged, compared to its average volume of 1,678,862. The company has a market cap of $61.99 billion, a P/E ratio of 25.17, a PEG ratio of 3.17 and a beta of 0.81. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.31 and a current ratio of 1.27. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $307.71. The stock’s fifty day simple moving average is $267.08 and its two-hundred day simple moving average is $253.08.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings data on Thursday, August 1st. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.16. The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.04 billion. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. As a group, analysts forecast that Air Products and Chemicals, Inc. will post 12.29 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, October 1st will be given a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.54%. The ex-dividend date is Tuesday, October 1st. Air Products and Chemicals’s payout ratio is presently 63.90%.

Analyst Upgrades and Downgrades

APD has been the topic of several research analyst reports. Barclays raised their price objective on shares of Air Products and Chemicals from $290.00 to $295.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Wells Fargo & Company lifted their target price on Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. StockNews.com upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Tuesday, August 20th. Mizuho reduced their price objective 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, The Goldman Sachs Group upped their target price on Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Air Products and Chemicals currently has an average rating of “Hold” and an average target price 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.