Adirondack Trust Co. Has $274,000 Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Adirondack Trust Co. cut its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 8.9% in the third quarter, HoldingsChannel reports. The firm owned 919 shares of the basic materials company’s stock after selling 90 shares during the period. Adirondack Trust Co.’s holdings in Air Products and Chemicals were worth $274,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Thompson Investment Management Inc. acquired a new stake in shares of Air Products and Chemicals in the first quarter worth $27,000. Transcendent Capital Group LLC acquired a new position in Air Products and Chemicals during the 4th quarter worth $28,000. Meeder Asset Management Inc. bought a new stake in Air Products and Chemicals during the second quarter valued at about $32,000. Hexagon Capital Partners LLC grew its position 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 valued at $34,000 after purchasing an additional 135 shares during the last quarter. Finally, Trifecta Capital Advisors LLC increased its stake in shares of Air Products and Chemicals by 1,700.0% in the second quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 136 shares during the period. 81.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on APD shares. JPMorgan Chase & Co. raised their target price 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. Deutsche Bank Aktiengesellschaft lowered shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and dropped their target price for the stock from $310.00 to $280.00 in a research report on Monday, July 22nd. Vertical Research raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price target for the company in a report on Monday. Jefferies Financial Group upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $295.00 to $364.00 in a report on Monday. Finally, The Goldman Sachs Group lifted their target price on Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Air Products and Chemicals has a consensus rating of “Moderate Buy” and a consensus target price of $313.53.

Air Products and Chemicals Trading Up 1.2 %

Shares of APD opened at $314.09 on Thursday. The stock has a fifty day moving average price of $282.53 and a two-hundred day moving average price of $264.30. 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 market cap of $69.82 billion, a price-to-earnings ratio of 28.35, a PEG ratio of 3.89 and a beta of 0.82. Air Products and Chemicals, Inc. has a 52-week low of $212.24 and a 52-week high of $318.32.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.04 billion. Analysts predict that Air Products and Chemicals, Inc. will post 12.33 EPS for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, October 1st will be issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Tuesday, October 1st. Air Products and Chemicals’s dividend payout ratio is 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.