Air Products and Chemicals, Inc. (NYSE:APD) Shares Bought by Summit Trail Advisors LLC

Summit Trail Advisors LLC lifted its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 32.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,074 shares of the basic materials company’s stock after acquiring an additional 506 shares during the period. Summit Trail Advisors LLC’s holdings in Air Products and Chemicals were worth $535,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in APD. Security National Bank purchased a new stake in shares of Air Products and Chemicals in the fourth quarter valued at about $27,000. Thompson Investment Management Inc. purchased a new stake in Air Products and Chemicals in the 1st quarter valued at approximately $27,000. Transcendent Capital Group LLC acquired a new stake in Air Products and Chemicals during the 4th quarter valued at $28,000. Meeder Asset Management Inc. purchased a new position in Air Products and Chemicals during the second quarter worth $32,000. Finally, Hexagon Capital Partners LLC raised its holdings in shares of Air Products and Chemicals by 2,250.0% in the first quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 135 shares during the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Performance

Shares of NYSE:APD opened at $287.98 on Monday. The business has a 50-day moving average of $274.23 and a two-hundred day moving average of $259.79. The firm has a market capitalization of $64.02 billion, a PE ratio of 25.99, a P/E/G ratio of 3.70 and a beta of 0.82. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.10. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $296.00.

Air Products and Chemicals (NYSE:APD) last posted its earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.16. The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate 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, research analysts forecast that Air Products and Chemicals, Inc. will post 12.32 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, October 1st will be given 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 yield of 2.46%. Air Products and Chemicals’s dividend payout ratio (DPR) is 63.90%.

Wall Street Analyst Weigh In

A number of analysts recently commented on APD shares. StockNews.com cut Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. BMO Capital Markets lifted their price target on shares of Air Products and Chemicals from $300.00 to $323.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Morgan Stanley boosted their price objective on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 5th. JPMorgan Chase & Co. raised 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 research report on Friday, August 2nd. Finally, Bank of America boosted their price target on Air Products and Chemicals from $275.00 to $312.00 and gave the company a “buy” rating in a report on Monday, June 10th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $297.40.

About Air Products and Chemicals

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.