Umpqua Bank Raises Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Umpqua Bank lifted its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 3.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,396 shares of the basic materials company’s stock after acquiring an additional 192 shares during the quarter. Umpqua Bank’s holdings in Air Products and Chemicals were worth $1,650,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cape Investment Advisory Inc. boosted its stake in shares of Air Products and Chemicals by 1.0% in the first quarter. Cape Investment Advisory Inc. now owns 3,740 shares of the basic materials company’s stock worth $906,000 after buying an additional 37 shares during the last quarter. First Citizens Bank & Trust Co. grew its stake in Air Products and Chemicals by 0.4% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 10,906 shares of the basic materials company’s stock valued at $2,814,000 after acquiring an additional 39 shares during the period. Verdence Capital Advisors LLC raised its position in Air Products and Chemicals by 2.3% during the second quarter. Verdence Capital Advisors LLC now owns 1,763 shares of the basic materials company’s stock worth $455,000 after acquiring an additional 39 shares during the period. Stokes Family Office LLC increased its stake in shares of Air Products and Chemicals by 3.4% during the second quarter. Stokes Family Office LLC now owns 1,213 shares of the basic materials company’s stock worth $313,000 after purchasing an additional 40 shares in the last quarter. Finally, Legacy Capital Group California Inc. boosted its stake in shares of Air Products and Chemicals by 1.0% in the second quarter. Legacy Capital Group California Inc. now owns 3,984 shares of the basic materials company’s stock worth $1,028,000 after acquiring an additional 41 shares during the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

APD has been the subject of a number of recent research reports. Citigroup increased their price objective on shares of Air Products and Chemicals from $280.00 to $305.00 and gave the company a “buy” rating in a report on Friday, July 12th. 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 report on Friday, August 2nd. Bank of America lifted their target price on Air Products and Chemicals from $275.00 to $312.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Morgan Stanley increased their price target 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. Finally, UBS Group upped their target price on shares of Air Products and Chemicals from $276.00 to $281.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. According to 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 Price Performance

Shares of APD opened at $268.71 on Friday. The firm has a market capitalization of $59.74 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 3.72 and a beta of 0.81. The stock’s fifty day moving average is $268.38 and its 200-day moving average is $256.18. Air Products and Chemicals, Inc. has a one year low of $212.24 and a one year high of $307.71. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.27.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data on Thursday, August 1st. The basic materials company reported $3.20 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.16. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.04 billion. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. Equities analysts anticipate that Air Products and Chemicals, Inc. will post 12.32 EPS for the current year.

Air Products and Chemicals Dividend Announcement

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 2.63%. The ex-dividend date of this dividend is Tuesday, October 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 63.90%.

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.