Air Products and Chemicals, Inc. (NYSE:APD) Holdings Increased by Tobam

Tobam increased its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 50.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 410 shares of the basic materials company’s stock after acquiring an additional 138 shares during the period. Tobam’s holdings in Air Products and Chemicals were worth $122,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Thompson Investment Management Inc. acquired a new stake in Air Products and Chemicals in the 1st quarter valued at about $27,000. Transcendent Capital Group LLC acquired a new stake in shares of Air Products and Chemicals during the 4th quarter valued at $28,000. Meeder Asset Management Inc. bought a new stake in shares of Air Products and Chemicals during the 2nd quarter worth $32,000. Hexagon Capital Partners LLC raised its position in shares of Air Products and Chemicals by 2,250.0% during the first quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 135 shares during the period. Finally, Trifecta Capital Advisors LLC boosted its position in shares of Air Products and Chemicals by 1,700.0% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 136 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Trading Up 0.2 %

Shares of APD opened at $314.67 on Friday. The stock has a 50 day simple moving average of $283.53 and a 200-day simple moving average of $264.65. 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 stock has a market cap of $69.95 billion, a PE ratio of 28.40, a PEG ratio of 3.89 and a beta of 0.82. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $323.86.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings results 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. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $3.04 billion. On average, sell-side analysts predict that Air Products and Chemicals, Inc. will post 12.33 EPS for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, October 1st will be paid a dividend of $1.77 per share. The ex-dividend date is Tuesday, October 1st. This represents a $7.08 annualized dividend and a dividend yield of 2.25%. Air Products and Chemicals’s dividend payout ratio is presently 63.90%.

Analyst Upgrades and Downgrades

APD has been the topic of several recent analyst reports. Evercore ISI upgraded Air Products and Chemicals from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $305.00 to $365.00 in a report on Monday. Jefferies Financial Group raised Air Products and Chemicals from a “hold” rating to a “buy” rating and increased their price objective for the stock from $295.00 to $364.00 in a research note on Monday. StockNews.com upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. raised their price target on shares of 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, Wells Fargo & Company upped their price objective on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $313.53.

About Air Products and Chemicals

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.