Doheny Asset Management CA Takes Position in Air Products and Chemicals, Inc. (NYSE:APD)

Doheny Asset Management CA acquired a new position in Air Products and Chemicals, Inc. (NYSE:APD) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,477 shares of the basic materials company’s stock, valued at approximately $357,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Capital Research Global Investors lifted its holdings in Air Products and Chemicals by 62.3% in the first quarter. Capital Research Global Investors now owns 11,230,051 shares of the basic materials company’s stock worth $2,720,704,000 after acquiring an additional 4,309,040 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Air Products and Chemicals by 4.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,062,859 shares of the basic materials company’s stock valued at $790,371,000 after purchasing an additional 122,676 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Air Products and Chemicals by 127.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,792,470 shares of the basic materials company’s stock worth $720,597,000 after buying an additional 1,564,169 shares during the last quarter. Bank of New York Mellon Corp increased its position in Air Products and Chemicals by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 2,034,818 shares of the basic materials company’s stock worth $525,085,000 after buying an additional 5,140 shares during the period. Finally, National Bank of Canada FI lifted its stake in Air Products and Chemicals by 2,931.0% in the second quarter. National Bank of Canada FI now owns 1,796,531 shares of the basic materials company’s stock valued at $444,352,000 after buying an additional 1,737,260 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Price Performance

APD stock opened at $300.36 on Friday. The firm has a 50-day moving average of $277.35 and a two-hundred day moving average of $261.49. The firm has a market capitalization of $66.77 billion, a PE ratio of 27.11, a P/E/G ratio of 3.89 and a beta of 0.82. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.77. Air Products and Chemicals, Inc. has a one year low of $212.24 and a one year high of $302.03.

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. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.04 billion. On average, analysts forecast that Air Products and Chemicals, Inc. will post 12.33 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, October 1st will be paid a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Tuesday, October 1st. Air Products and Chemicals’s dividend payout ratio is currently 63.90%.

Analyst Ratings Changes

APD has been the subject of several recent research reports. StockNews.com upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Monday, September 23rd. Barclays upped their target price on shares of Air Products and Chemicals from $290.00 to $295.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. lifted their price target 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. BMO Capital Markets raised their target price on Air Products and Chemicals from $300.00 to $323.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, Citigroup boosted their price target on Air Products and Chemicals from $280.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Air Products and Chemicals presently has an average rating of “Hold” and a consensus target price of $296.50.

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.