JGP Wealth Management LLC grew its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD – Free Report) by 2.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,638 shares of the basic materials company’s stock after acquiring an additional 900 shares during the period. Air Products and Chemicals accounts for approximately 1.7% of JGP Wealth Management LLC’s investment portfolio, making the stock its 19th biggest holding. JGP Wealth Management LLC’s holdings in Air Products and Chemicals were worth $13,588,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Avantax Advisory Services Inc. grew its holdings in Air Products and Chemicals by 151.3% in the first quarter. Avantax Advisory Services Inc. now owns 24,881 shares of the basic materials company’s stock worth $6,028,000 after purchasing an additional 14,981 shares during the period. 1832 Asset Management L.P. grew its stake in Air Products and Chemicals by 3.6% in the first quarter. 1832 Asset Management L.P. now owns 67,507 shares of the basic materials company’s stock valued at $16,355,000 after acquiring an additional 2,321 shares during the period. Trilogy Capital Inc. bought a new stake in shares of Air Products and Chemicals during the first quarter valued at approximately $2,625,000. FORA Capital LLC raised its position in shares of Air Products and Chemicals by 13.0% during the first quarter. FORA Capital LLC now owns 33,823 shares of the basic materials company’s stock worth $8,194,000 after purchasing an additional 3,881 shares during the period. Finally, Mizuho Markets Americas LLC grew its position in Air Products and Chemicals by 140.1% in the 1st quarter. Mizuho Markets Americas LLC now owns 39,164 shares of the basic materials company’s stock valued at $9,488,000 after purchasing an additional 22,850 shares during the period. 81.66% of the stock is owned by institutional investors.
Analysts Set New Price Targets
APD has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their target price 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. BMO Capital Markets lifted their target price on 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. Mizuho raised their price objective on Air Products and Chemicals from $308.00 to $360.00 and gave the company an “outperform” rating in a research note on Wednesday. Wells Fargo & Company upped 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 research note on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and dropped their price target for the company from $310.00 to $280.00 in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Air Products and Chemicals has an average rating of “Moderate Buy” and an average target price of $313.53.
Air Products and Chemicals Price Performance
APD traded up $1.78 during trading on Friday, reaching $316.39. The stock had a trading volume of 174,871 shares, compared to its average volume of 1,628,430. 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 stock has a market cap of $70.34 billion, a PE ratio of 27.49, a PEG ratio of 3.87 and a beta of 0.82. The business has a 50-day moving average of $284.08 and a 200-day moving average of $265.00. Air Products and Chemicals, Inc. has a one year low of $212.24 and a one year high of $323.86.
Air Products and Chemicals (NYSE:APD – Get Free Report) last issued 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. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. As a group, equities research analysts anticipate that Air Products and Chemicals, Inc. will post 12.33 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. Stockholders of record on Tuesday, October 1st will be paid a dividend of $1.77 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.24%. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 61.35%.
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.
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