Bank of Montreal Can Boosts Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Bank of Montreal Can grew its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 52.2% in the second quarter, Holdings Channel reports. The firm owned 931,411 shares of the basic materials company’s stock after purchasing an additional 319,319 shares during the period. Bank of Montreal Can’s holdings in Air Products and Chemicals were worth $266,765,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in APD. Cape Investment Advisory Inc. raised its holdings in shares of Air Products and Chemicals by 1.0% during the first quarter. Cape Investment Advisory Inc. now owns 3,740 shares of the basic materials company’s stock valued at $906,000 after purchasing an additional 37 shares during the last quarter. First Citizens Bank & Trust Co. raised its stake in Air Products and Chemicals by 0.4% during 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 buying an additional 39 shares during the last quarter. Verdence Capital Advisors LLC lifted its holdings in shares of Air Products and Chemicals by 2.3% during the 2nd quarter. Verdence Capital Advisors LLC now owns 1,763 shares of the basic materials company’s stock valued at $455,000 after buying an additional 39 shares during the period. Stokes Family Office LLC boosted its stake in shares of Air Products and Chemicals by 3.4% in the 2nd quarter. Stokes Family Office LLC now owns 1,213 shares of the basic materials company’s stock worth $313,000 after buying an additional 40 shares during the last quarter. Finally, Invesco LLC grew its holdings in shares of Air Products and Chemicals by 2.6% in the second quarter. Invesco LLC now owns 1,581 shares of the basic materials company’s stock worth $408,000 after acquiring an additional 40 shares during the period. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Price Performance

APD stock opened at $287.98 on Monday. 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 company’s fifty day moving average price is $274.23 and its 200-day moving average price is $259.79. Air Products and Chemicals, Inc. has a one year low of $212.24 and a one year high of $296.00. The company has a market capitalization of $64.02 billion, a PE ratio of 25.99, a price-to-earnings-growth ratio of 3.70 and a beta of 0.82.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings results on Thursday, August 1st. The basic materials company reported $3.20 EPS for the quarter, topping the consensus estimate 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%. On average, equities analysts anticipate that Air Products and Chemicals, Inc. will post 12.32 EPS for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, October 1st will be issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.46%. The ex-dividend date is Tuesday, October 1st. Air Products and Chemicals’s dividend payout ratio is presently 63.90%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on APD shares. Bank of America raised their target price on Air Products and Chemicals from $275.00 to $312.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. StockNews.com downgraded shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, September 6th. The Goldman Sachs Group upped their target price on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft cut Air Products and Chemicals from a “buy” rating to a “hold” rating and reduced their price target for the stock from $310.00 to $280.00 in a research report on Monday, July 22nd. Finally, UBS Group lifted their price objective on 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 research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Air Products and Chemicals has an average rating of “Hold” and an average target price of $297.40.

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.