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

Canandaigua National Bank & Trust Co. lifted its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 1.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,673 shares of the basic materials company’s stock after buying an additional 129 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Air Products and Chemicals were worth $2,582,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in APD. Capital Research Global Investors increased its position in shares of Air Products and Chemicals by 62.3% in the 1st quarter. Capital Research Global Investors now owns 11,230,051 shares of the basic materials company’s stock valued at $2,720,704,000 after purchasing an additional 4,309,040 shares during the last quarter. National Bank of Canada FI increased 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 buying an additional 1,737,260 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake 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 valued at $720,597,000 after buying an additional 1,564,169 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in Air Products and Chemicals by 50.6% during the 1st 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 last quarter. Finally, Scharf Investments LLC acquired a new position in shares of Air Products and Chemicals during the 1st quarter worth about $87,173,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Price Performance

Air Products and Chemicals stock opened at $285.58 on Friday. The business has a 50 day simple moving average of $280.18 and a 200-day simple moving average of $262.65. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $302.03. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.10. The stock has a market capitalization of $63.49 billion, a PE ratio of 25.77, a price-to-earnings-growth ratio of 3.89 and a beta of 0.82.

Air Products and Chemicals (NYSE:APD) last released its 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. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Equities analysts predict that Air Products and Chemicals, Inc. will post 12.33 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, October 1st will be given a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Tuesday, October 1st. Air Products and Chemicals’s payout ratio is 63.90%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on APD. JPMorgan Chase & Co. boosted their target price on Air Products and Chemicals from $300.00 to $340.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. UBS Group upped their target price on shares of Air Products and Chemicals from $276.00 to $281.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Bank of America lifted their price target on shares of 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. Wells Fargo & Company upped their price objective on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft cut 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 research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $296.50.

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.