First Heartland Consultants Inc. Invests $224,000 in Air Products and Chemicals, Inc. (NYSE:APD)

First Heartland Consultants Inc. purchased a new stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 867 shares of the basic materials company’s stock, valued at approximately $224,000.

A number of other large investors have also added to or reduced their stakes in the company. Capital Research Global Investors grew its stake in shares of Air Products and Chemicals by 167.2% during 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 acquiring an additional 4,330,471 shares in the last quarter. Norges Bank purchased a new stake in Air Products and Chemicals during the 4th quarter worth approximately $852,288,000. Clearbridge Investments LLC raised its position in shares of Air Products and Chemicals by 50.6% in the 1st quarter. Clearbridge Investments LLC now owns 1,547,202 shares of the basic materials company’s stock valued at $374,841,000 after purchasing an additional 520,179 shares in the last quarter. Scharf Investments LLC purchased a new position in shares of Air Products and Chemicals during the 1st quarter valued at approximately $87,173,000. Finally, Nordea Investment Management AB grew its position in shares of Air Products and Chemicals by 66.1% during 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 in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Air Products and Chemicals Stock Performance

Shares of NYSE APD opened at $278.84 on Tuesday. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $307.71. The company has a current ratio of 1.27, a quick ratio of 1.31 and a debt-to-equity ratio of 0.77. The company has a market cap of $61.99 billion, a PE ratio of 25.17, a P/E/G ratio of 3.17 and a beta of 0.81. The stock has a 50 day simple moving average of $267.08 and a 200-day simple moving average of $253.08.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $3.04 billion. On average, equities research analysts forecast that Air Products and Chemicals, Inc. will post 12.29 EPS for the current year.

Air Products and Chemicals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, October 1st will be paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Tuesday, October 1st. Air Products and Chemicals’s dividend payout ratio is currently 63.90%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on APD shares. Bank of America upped their price target on shares of Air Products and Chemicals from $275.00 to $312.00 and gave the company a “buy” rating in a report on Monday, June 10th. The Goldman Sachs Group lifted their price target on Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. upped their price objective on Air Products and Chemicals from $300.00 to $340.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. TD Cowen lifted their target price on Air Products and Chemicals from $305.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, BMO Capital Markets boosted their price target on Air Products and Chemicals from $300.00 to $323.00 and gave the company an “outperform” rating in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Air Products and Chemicals has a consensus rating of “Hold” and a consensus price target of $297.40.

Air Products and Chemicals Company 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.