Legacy Capital Wealth Partners LLC Buys Shares of 2,412 Air Products and Chemicals, Inc. (NYSE:APD)

Legacy Capital Wealth Partners LLC purchased a new position in shares of Air Products and Chemicals, Inc. (NYSE:APD) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,412 shares of the basic materials company’s stock, valued at approximately $622,000.

Several other hedge funds have also recently modified their holdings of APD. Sachetta LLC acquired a new position in Air Products and Chemicals during the 4th quarter worth approximately $27,000. Security National Bank purchased a new stake in shares of Air Products and Chemicals in the fourth quarter valued at approximately $27,000. Thompson Investment Management Inc. acquired a new position in Air Products and Chemicals during the first quarter worth $27,000. Transcendent Capital Group LLC purchased a new position in Air Products and Chemicals in the fourth quarter worth $28,000. Finally, Hexagon Capital Partners LLC lifted its holdings in 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 owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Morgan Stanley increased their price target on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the company an “equal weight” rating in a report on Wednesday, June 5th. The Goldman Sachs Group increased their target price on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a report on Monday, August 5th. BMO Capital Markets boosted their price target on Air Products and Chemicals from $300.00 to $323.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. lifted their price objective on Air Products and Chemicals from $300.00 to $340.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft downgraded Air Products and Chemicals from a “buy” rating to a “hold” rating and decreased their target price for the stock from $310.00 to $280.00 in a research report on Monday, July 22nd. One 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $297.40.

Air Products and Chemicals Stock Down 1.3 %

Shares of NYSE APD opened at $275.19 on Wednesday. The firm’s 50 day moving average price is $267.73 and its 200 day moving average price is $255.43. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.27. The firm has a market cap of $61.18 billion, a P/E ratio of 24.84, a price-to-earnings-growth ratio of 3.72 and a beta of 0.81. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $307.71.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data on Thursday, August 1st. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.16. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $3.04 billion. As a group, sell-side analysts anticipate that Air Products and Chemicals, Inc. will post 12.32 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, October 1st will be issued a $1.77 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.57%. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 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.