Air Products and Chemicals, Inc. (NYSE:APD) Shares Bought by Agate Pass Investment Management LLC

Agate Pass Investment Management LLC raised its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 6.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,737 shares of the basic materials company’s stock after acquiring an additional 415 shares during the period. Agate Pass Investment Management LLC’s holdings in Air Products and Chemicals were worth $1,738,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Air Products and Chemicals in the 4th quarter valued at about $27,000. Roble Belko & Company Inc acquired a new position in Air Products and Chemicals in the fourth quarter valued at approximately $27,000. Sachetta LLC purchased a new stake in Air Products and Chemicals in the 4th quarter worth approximately $27,000. Security National Bank purchased a new position in shares of Air Products and Chemicals during the 4th quarter valued at approximately $27,000. Finally, Thompson Investment Management Inc. acquired a new position in shares of Air Products and Chemicals in the 1st quarter valued at $27,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Air Products and Chemicals Price Performance

APD traded up $2.72 during trading on Tuesday, reaching $276.65. The company’s stock had a trading volume of 695,254 shares, compared to its average volume of 1,736,040. The company has a market cap of $61.50 billion, a price-to-earnings ratio of 24.97, a PEG ratio of 3.17 and a beta of 0.81. The firm has a fifty day simple moving average of $267.37 and a two-hundred day simple moving average of $250.77. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $307.71. The company has a quick ratio of 1.31, a current ratio of 1.27 and a debt-to-equity ratio of 0.77.

Air Products and Chemicals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, October 1st will be given a dividend of $1.77 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $7.08 dividend on an annualized basis and a yield of 2.56%. Air Products and Chemicals’s payout ratio is 63.90%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on APD. Morgan Stanley raised their price target on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 5th. TD Cowen lifted their price target on Air Products and Chemicals from $305.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Citigroup increased their price target on 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. JPMorgan Chase & Co. boosted their price objective on Air Products and Chemicals from $300.00 to $340.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, BMO Capital Markets increased their target price on Air Products and Chemicals from $300.00 to $323.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $296.53.

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.