Atlantic Union Bankshares Corp Has $2.19 Million Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Atlantic Union Bankshares Corp decreased its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 18.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,057 shares of the basic materials company’s stock after selling 2,021 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Air Products and Chemicals were worth $2,194,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Capital Research Global Investors lifted its stake in shares of Air Products and Chemicals by 167.2% in the 4th 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 period. Morgan Stanley lifted its stake in shares of Air Products and Chemicals by 4.6% in the 3rd quarter. Morgan Stanley now owns 5,302,455 shares of the basic materials company’s stock valued at $1,502,717,000 after purchasing an additional 235,037 shares during the period. Norges Bank acquired a new position in shares of Air Products and Chemicals in the 4th quarter valued at $852,288,000. Raymond James & Associates lifted its stake in shares of Air Products and Chemicals by 3.6% in the 4th quarter. Raymond James & Associates now owns 1,931,619 shares of the basic materials company’s stock valued at $528,877,000 after purchasing an additional 66,906 shares during the period. Finally, Stifel Financial Corp lifted its stake in shares of Air Products and Chemicals by 12.6% in the 4th quarter. Stifel Financial Corp now owns 1,508,625 shares of the basic materials company’s stock valued at $413,078,000 after purchasing an additional 168,959 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Trading Down 2.0 %

Shares of NYSE:APD opened at $257.74 on Friday. Air Products and Chemicals, Inc. has a 52-week low of $212.24 and a 52-week high of $307.71. The company has a market capitalization of $57.30 billion, a P/E ratio of 23.26, a price-to-earnings-growth ratio of 2.86 and a beta of 0.84. The company has a 50-day simple moving average of $259.73 and a 200 day simple moving average of $251.94. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.31 and a current ratio of 1.49.

Air Products and Chemicals (NYSE:APD) last issued its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.15. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same period last year, the business posted $2.74 EPS. Air Products and Chemicals’s revenue was down 8.4% on a year-over-year basis. Sell-side analysts forecast that Air Products and Chemicals, Inc. will post 12.3 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 12th. Shareholders of record on Monday, July 1st will be given a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $7.08 annualized dividend and a yield of 2.75%. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 63.90%.

Wall Street Analyst Weigh In

APD has been the subject of a number of recent analyst reports. BMO Capital Markets upped their price objective on shares of Air Products and Chemicals from $276.00 to $294.00 and gave the company an “outperform” rating in a research report on Monday, June 10th. Morgan Stanley increased their target price on Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 5th. StockNews.com upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Saturday. Wolfe Research started coverage on Air Products and Chemicals in a report on Friday, March 1st. They set an “outperform” rating and a $279.00 target price for the company. Finally, TD Cowen increased their target price on Air Products and Chemicals from $305.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $287.29.

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.