Midland Wealth Advisors LLC Sells 175 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Midland Wealth Advisors LLC decreased its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 13.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,084 shares of the basic materials company’s stock after selling 175 shares during the period. Midland Wealth Advisors LLC’s holdings in Air Products and Chemicals were worth $280,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in APD. Legacy Capital Wealth Partners LLC purchased a new stake in shares of Air Products and Chemicals during the 2nd quarter worth approximately $622,000. Wolverine Asset Management LLC purchased a new position in Air Products and Chemicals during the 2nd quarter valued at $774,000. Tortoise Investment Management LLC increased its stake in Air Products and Chemicals by 14.7% in the second quarter. Tortoise Investment Management LLC now owns 593 shares of the basic materials company’s stock worth $153,000 after purchasing an additional 76 shares during the period. Chilton Capital Management LLC grew its holdings in shares of Air Products and Chemicals by 3.8% in the second quarter. Chilton Capital Management LLC now owns 4,684 shares of the basic materials company’s stock worth $1,209,000 after purchasing an additional 170 shares during the last quarter. Finally, Two Point Capital Management Inc. purchased a new position in Air Products and Chemicals in the 2nd quarter worth about $6,859,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on APD. Barclays raised their price objective on Air Products and Chemicals from $290.00 to $295.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. JPMorgan Chase & Co. lifted their price target on Air Products and Chemicals from $300.00 to $340.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Citigroup lifted their target price on Air Products and Chemicals from $280.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Morgan Stanley raised 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. Finally, Wells Fargo & Company boosted their price objective on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $297.40.

Air Products and Chemicals Stock Performance

Shares of APD stock opened at $275.19 on Wednesday. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.77. The business’s 50 day moving average is $267.73 and its two-hundred day moving average is $255.43. The company has a market capitalization of $61.18 billion, a P/E ratio of 24.84, a P/E/G ratio of 3.72 and a beta of 0.81. 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 (NYSE:APD) last released 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. The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. Analysts expect that Air Products and Chemicals, Inc. will post 12.32 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

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 dividend of $1.77 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $7.08 annualized dividend and a yield of 2.57%. Air Products and Chemicals’s dividend payout ratio (DPR) is 63.90%.

Air Products and Chemicals 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.