Air Products and Chemicals, Inc. (NYSE:APD) Shares Bought by American National Bank & Trust

American National Bank & Trust grew its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 44.9% in the third quarter, Holdings Channel reports. The fund owned 26,400 shares of the basic materials company’s stock after purchasing an additional 8,183 shares during the period. American National Bank & Trust’s holdings in Air Products and Chemicals were worth $7,860,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Cape Investment Advisory Inc. increased its stake in Air Products and Chemicals by 1.0% during the first quarter. Cape Investment Advisory Inc. now owns 3,740 shares of the basic materials company’s stock worth $906,000 after acquiring an additional 37 shares during the last quarter. First Citizens Bank & Trust Co. increased its position in shares of Air Products and Chemicals by 0.4% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 10,906 shares of the basic materials company’s stock worth $2,814,000 after purchasing an additional 39 shares during the last quarter. Verdence Capital Advisors LLC raised its holdings in Air Products and Chemicals by 2.3% in the 2nd quarter. Verdence Capital Advisors LLC now owns 1,763 shares of the basic materials company’s stock valued at $455,000 after buying an additional 39 shares during the period. Stokes Family Office LLC lifted its position in Air Products and Chemicals by 3.4% in the second quarter. Stokes Family Office LLC now owns 1,213 shares of the basic materials company’s stock valued at $313,000 after buying an additional 40 shares during the last quarter. Finally, Invesco LLC boosted its stake in Air Products and Chemicals by 2.6% during the second quarter. Invesco LLC now owns 1,581 shares of the basic materials company’s stock worth $408,000 after buying an additional 40 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on APD. BMO Capital Markets upped their price objective on shares of Air Products and Chemicals from $300.00 to $323.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Morgan Stanley upped their price target on 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. JPMorgan Chase & Co. raised their price target 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. Bank of America boosted their price objective on Air Products and Chemicals from $275.00 to $312.00 and gave the company a “buy” rating in a report on Monday, June 10th. Finally, StockNews.com upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. One equities 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $296.50.

Air Products and Chemicals Trading Down 0.5 %

APD opened at $290.00 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.27. Air Products and Chemicals, Inc. has a one year low of $212.24 and a one year high of $302.03. The company has a market cap of $64.47 billion, a P/E ratio of 26.17, a PEG ratio of 3.89 and a beta of 0.82. The business’s 50-day simple moving average is $279.64 and its 200-day simple moving average is $262.49.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings data on Thursday, August 1st. The basic materials company reported $3.20 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.16. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.04 billion. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. As a group, equities research analysts expect 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 announced a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, October 1st will be issued a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend 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.