Chase Investment Counsel Corp Boosts Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Chase Investment Counsel Corp lifted its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 15.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,642 shares of the basic materials company’s stock after acquiring an additional 223 shares during the quarter. Chase Investment Counsel Corp’s holdings in Air Products and Chemicals were worth $423,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Security National Bank purchased a new position in Air Products and Chemicals in the 4th quarter valued at about $27,000. Thompson Investment Management Inc. acquired a new stake in shares of Air Products and Chemicals during the 1st quarter worth approximately $27,000. Transcendent Capital Group LLC acquired a new stake in shares of Air Products and Chemicals during the 4th quarter worth approximately $28,000. Meeder Asset Management Inc. acquired a new stake in shares of Air Products and Chemicals during the 2nd quarter worth approximately $32,000. Finally, Hexagon Capital Partners LLC increased its holdings in Air Products and Chemicals by 2,250.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 135 shares during the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Price Performance

Shares of NYSE APD opened at $300.36 on Monday. 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 twelve month low of $212.24 and a twelve month high of $302.03. The stock has a 50 day moving average of $277.35 and a two-hundred day moving average of $261.59. The stock has a market cap of $66.77 billion, a P/E ratio of 27.11, a P/E/G ratio of 3.89 and a beta of 0.82.

Air Products and Chemicals (NYSE:APD) last released 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. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $3.04 billion. On average, research analysts forecast that Air Products and Chemicals, Inc. will post 12.33 earnings per share 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 dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend is Tuesday, October 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 63.90%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on APD shares. Morgan Stanley lifted their target price on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the company an “equal weight” rating in a report on Wednesday, June 5th. BMO Capital Markets lifted their target price on shares of Air Products and Chemicals from $300.00 to $323.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Bank of America lifted their target price 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. Barclays lifted their target price on shares of Air Products and Chemicals from $290.00 to $295.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Finally, Citigroup raised their price target on shares of Air Products and Chemicals from $280.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average 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.