Air Products and Chemicals, Inc. (NYSE:APD) Shares Bought by MBB Public Markets I LLC

MBB Public Markets I LLC raised its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 1,240.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,697 shares of the basic materials company’s stock after purchasing an additional 14,526 shares during the quarter. MBB Public Markets I LLC’s holdings in Air Products and Chemicals were worth $4,051,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of APD. Capital Research Global Investors grew its position in Air Products and Chemicals by 62.3% during 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. Barrow Hanley Mewhinney & Strauss LLC grew its holdings 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 acquiring an additional 122,676 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Air Products and Chemicals by 127.3% in the 2nd 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 raised 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 worth $525,085,000 after purchasing an additional 5,140 shares during the last quarter. Finally, National Bank of Canada FI grew 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 valued at $444,352,000 after purchasing an additional 1,737,260 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on APD shares. Bank of America lifted their price target on Air Products and Chemicals from $275.00 to $312.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Citigroup lifted their target price on shares of Air Products and Chemicals from $280.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. UBS Group increased 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. JPMorgan Chase & Co. lifted their price objective on Air Products and Chemicals from $300.00 to $340.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Morgan Stanley raised their price target on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Air Products and Chemicals currently has an average rating of “Hold” and a consensus target price of $296.50.

Air Products and Chemicals Price Performance

Air Products and Chemicals stock opened at $300.36 on Friday. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $302.03. 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 has a 50 day moving average price of $277.35 and a 200 day moving average price of $261.38. 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.

Air Products and Chemicals (NYSE:APD) last posted its earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.04 billion. Sell-side analysts predict 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 disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, October 1st will be given a $1.77 dividend. This represents a $7.08 annualized dividend 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 (DPR) is presently 63.90%.

Air Products and Chemicals 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.