Nemes Rush Group LLC Raises Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Nemes Rush Group LLC boosted its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 3.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,889 shares of the basic materials company’s stock after acquiring an additional 1,662 shares during the quarter. Air Products and Chemicals accounts for 1.7% of Nemes Rush Group LLC’s portfolio, making the stock its 19th biggest holding. Nemes Rush Group LLC’s holdings in Air Products and Chemicals were worth $12,358,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several brokerages have issued reports on APD. JPMorgan Chase & Co. increased their target price on Air Products and Chemicals from $300.00 to $340.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. UBS Group raised 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. Wells Fargo & Company boosted their target price on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft cut shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and lowered their price target for the company from $310.00 to $280.00 in a report on Monday, July 22nd. Finally, Citigroup increased their target price 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 analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $296.50.

Air Products and Chemicals Price Performance

NYSE APD opened at $300.36 on Friday. The company has a market cap of $66.77 billion, a price-to-earnings ratio of 27.11, a PEG ratio of 3.89 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. The stock’s fifty day moving average price is $277.35 and its 200 day moving average price is $261.49. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $302.03.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data on Thursday, August 1st. The basic materials company reported $3.20 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $3.04 billion. As a group, equities 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, October 1st will be given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis 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 presently 63.90%.

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.