Air Products and Chemicals, Inc. (NYSE:APD) Shares Purchased by Belpointe Asset Management LLC

Belpointe Asset Management LLC increased its position in Air Products and Chemicals, Inc. (NYSE:APD) by 8.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,176 shares of the basic materials company’s stock after acquiring an additional 667 shares during the period. Belpointe Asset Management LLC’s holdings in Air Products and Chemicals were worth $2,110,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Capital Research Global Investors boosted its holdings in Air Products and Chemicals by 167.2% in the fourth quarter. Capital Research Global Investors now owns 6,921,011 shares of the basic materials company’s stock valued at $1,894,973,000 after purchasing an additional 4,330,471 shares during the last quarter. Norges Bank bought a new stake in shares of Air Products and Chemicals during the fourth quarter valued at about $852,288,000. Clearbridge Investments LLC lifted its position in Air Products and Chemicals by 50.6% in the first quarter. Clearbridge Investments LLC now owns 1,547,202 shares of the basic materials company’s stock worth $374,841,000 after purchasing an additional 520,179 shares during the period. Scharf Investments LLC bought a new stake in Air Products and Chemicals in the first quarter worth about $87,173,000. Finally, Nordea Investment Management AB grew its position in Air Products and Chemicals by 66.1% in the first quarter. Nordea Investment Management AB now owns 860,519 shares of the basic materials company’s stock worth $207,807,000 after buying an additional 342,322 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on APD shares. UBS Group raised their price objective on shares of Air Products and Chemicals from $276.00 to $281.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. BMO Capital Markets lifted their price target on shares of Air Products and Chemicals from $300.00 to $323.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. StockNews.com raised shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Tuesday, August 20th. Wells Fargo & Company lifted their target price on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Bank of America boosted their target price on shares of Air Products and Chemicals from $275.00 to $312.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. One 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $297.40.

Air Products and Chemicals Trading Down 0.2 %

NYSE:APD opened at $274.72 on Thursday. The business’s 50-day simple moving average is $267.95 and its 200-day simple moving average is $255.57. The stock has a market capitalization of $61.07 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 3.72 and a beta of 0.81. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.10. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $307.71.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.04 billion. Sell-side analysts expect that Air Products and Chemicals, Inc. will post 12.32 earnings per share for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, October 1st will be paid a $1.77 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $7.08 annualized dividend and a dividend yield of 2.58%. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 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.