Central Pacific Bank Trust Division Acquires 2,200 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Central Pacific Bank Trust Division increased its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 18.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,117 shares of the basic materials company’s stock after purchasing an additional 2,200 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Air Products and Chemicals were worth $4,203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of 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 buying an additional 4,309,040 shares during the period. National Bank of Canada FI lifted its holdings 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 during the period. Massachusetts Financial Services Co. MA lifted its holdings in Air Products and Chemicals by 127.3% in the second 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 period. Clearbridge Investments LLC lifted its holdings in Air Products and Chemicals by 50.6% in the first quarter. Clearbridge Investments LLC now owns 1,547,202 shares of the basic materials company’s stock worth $374,841,000 after buying an additional 520,179 shares during the period. Finally, Scharf Investments LLC purchased a new stake in Air Products and Chemicals in the first quarter worth about $87,173,000. 81.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on APD. Deutsche Bank Aktiengesellschaft lowered shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $310.00 to $280.00 in a report on Monday, July 22nd. 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. Wells Fargo & Company lifted their target price on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Citigroup lifted 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 report on Friday, July 12th. Finally, The Goldman Sachs Group lifted 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. One investment 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, Air Products and Chemicals has an average rating of “Hold” and a consensus target price of $296.50.

Air Products and Chemicals Trading Down 0.5 %

Shares of Air Products and Chemicals stock opened at $290.00 on Thursday. The company has a market capitalization of $64.47 billion, a P/E ratio of 26.17, a P/E/G ratio of 3.89 and a beta of 0.82. 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 has a fifty day moving average of $279.64 and a 200 day moving average of $262.49. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $302.03.

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, sell-side analysts anticipate that Air Products and Chemicals, Inc. will post 12.33 earnings per share for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, October 1st will be paid a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.44%. The ex-dividend date is Tuesday, October 1st. Air Products and Chemicals’s payout ratio is currently 63.90%.

Air Products and Chemicals Company 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.