Wedmont Private Capital Has $470,000 Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Wedmont Private Capital lifted its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 9.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,503 shares of the basic materials company’s stock after buying an additional 126 shares during the period. Wedmont Private Capital’s holdings in Air Products and Chemicals were worth $470,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Abner Herrman & Brock LLC lifted its stake in Air Products and Chemicals by 1.0% in the 3rd quarter. Abner Herrman & Brock LLC now owns 34,934 shares of the basic materials company’s stock valued at $10,401,000 after purchasing an additional 330 shares during the last quarter. Saxon Interests Inc. lifted its stake in Air Products and Chemicals by 13.3% in the 3rd quarter. Saxon Interests Inc. now owns 4,136 shares of the basic materials company’s stock valued at $1,232,000 after purchasing an additional 487 shares during the last quarter. Tilia Fiduciary Partners Inc. lifted its stake in Air Products and Chemicals by 4.7% in the 3rd quarter. Tilia Fiduciary Partners Inc. now owns 1,340 shares of the basic materials company’s stock valued at $399,000 after purchasing an additional 60 shares during the last quarter. Sage Capital Advisors llc lifted its stake in Air Products and Chemicals by 0.3% in the 3rd quarter. Sage Capital Advisors llc now owns 14,693 shares of the basic materials company’s stock valued at $4,375,000 after purchasing an additional 47 shares during the last quarter. Finally, Olistico Wealth LLC lifted its stake in Air Products and Chemicals by 22.5% in the 3rd quarter. Olistico Wealth LLC now owns 1,090 shares of the basic materials company’s stock valued at $325,000 after purchasing an additional 200 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Mizuho raised their target price on shares of Air Products and Chemicals from $308.00 to $360.00 and gave the company an “outperform” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft cut shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and lowered their price target for the company from $310.00 to $280.00 in a report on Monday, July 22nd. 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 report on Tuesday, August 20th. Evercore ISI raised shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and increased their price target for the company from $305.00 to $365.00 in a report on Monday, October 7th. Finally, Wells Fargo & Company increased their price target on shares of Air Products and Chemicals from $280.00 to $330.00 and gave the company an “equal weight” rating in a report on Friday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Air Products and Chemicals presently has a consensus rating of “Moderate Buy” and an average target price of $316.47.

Air Products and Chemicals Stock Performance

Shares of Air Products and Chemicals stock opened at $316.81 on Friday. The firm has a market capitalization of $70.43 billion, a P/E ratio of 27.45, a P/E/G ratio of 3.87 and a beta of 0.82. The company’s 50 day moving average price is $284.78 and its two-hundred day moving average price is $265.55. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.10. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $323.86.

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, topping analysts’ consensus estimates of $3.04 by $0.16. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $3.04 billion. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. On average, equities analysts forecast that Air Products and Chemicals, Inc. will post 12.33 earnings per share for the current fiscal year.

Air Products and Chemicals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, October 1st will be paid a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Tuesday, October 1st. Air Products and Chemicals’s dividend payout ratio is presently 61.35%.

About Air Products and Chemicals

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.