Ieq Capital LLC Buys 1,046 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Ieq Capital LLC boosted its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 11.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,265 shares of the basic materials company’s stock after purchasing an additional 1,046 shares during the period. Ieq Capital LLC’s holdings in Air Products and Chemicals were worth $2,649,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Security National Bank acquired a new stake in shares of Air Products and Chemicals during the 4th quarter valued at $27,000. Transcendent Capital Group LLC acquired a new stake in shares of Air Products and Chemicals during the fourth quarter valued at about $28,000. Thompson Investment Management Inc. bought a new stake in shares of Air Products and Chemicals during the first quarter worth about $27,000. Meeder Asset Management Inc. acquired a new position in shares of Air Products and Chemicals in the second quarter valued at approximately $32,000. Finally, Clear Investment Research LLC raised its holdings in Air Products and Chemicals by 700.0% in the 4th quarter. Clear Investment Research LLC now owns 128 shares of the basic materials company’s stock valued at $35,000 after buying an additional 112 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on APD shares. UBS Group upped their price target on shares of 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 increased their price objective on Air Products and Chemicals from $240.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft downgraded Air Products and Chemicals from a “buy” rating to a “hold” rating and cut their target price for the stock from $310.00 to $280.00 in a report on Monday, July 22nd. The Goldman Sachs Group increased their price target on Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, Barclays lifted their price objective on Air Products and Chemicals from $290.00 to $295.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $297.40.

Air Products and Chemicals Stock Up 0.1 %

Air Products and Chemicals stock opened at $287.98 on Friday. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $296.00. 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 firm’s 50-day simple moving average is $274.23 and its 200 day simple moving average is $259.67. The stock has a market cap of $64.02 billion, a PE ratio of 25.99, a price-to-earnings-growth ratio of 3.70 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, August 1st. The basic materials company reported $3.20 EPS 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 company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.04 billion. Research analysts predict that Air Products and Chemicals, Inc. will post 12.32 EPS 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. Investors of record on Tuesday, October 1st will be issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Tuesday, October 1st. Air Products and Chemicals’s dividend payout ratio (DPR) 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.