Wesbanco Bank Inc. Has $2.37 Million Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Wesbanco Bank Inc. reduced its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 27.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,961 shares of the basic materials company’s stock after selling 2,993 shares during the quarter. Wesbanco Bank Inc.’s holdings in Air Products and Chemicals were worth $2,370,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. CX Institutional grew its holdings in Air Products and Chemicals by 2.6% in the 3rd quarter. CX Institutional now owns 1,343 shares of the basic materials company’s stock valued at $400,000 after buying an additional 34 shares during the last quarter. Cape Investment Advisory Inc. boosted its position in shares of Air Products and Chemicals by 1.0% in the first quarter. Cape Investment Advisory Inc. now owns 3,740 shares of the basic materials company’s stock valued at $906,000 after acquiring an additional 37 shares during the period. Exchange Traded Concepts LLC grew its stake in shares of Air Products and Chemicals by 22.3% in the third quarter. Exchange Traded Concepts LLC now owns 203 shares of the basic materials company’s stock worth $60,000 after acquiring an additional 37 shares during the last quarter. First Citizens Bank & Trust Co. increased its position in Air Products and Chemicals by 0.4% during the second quarter. First Citizens Bank & Trust Co. now owns 10,906 shares of the basic materials company’s stock worth $2,814,000 after acquiring an additional 39 shares during the period. Finally, Verdence Capital Advisors LLC raised its stake in Air Products and Chemicals by 2.3% during the 2nd quarter. Verdence Capital Advisors LLC now owns 1,763 shares of the basic materials company’s stock valued at $455,000 after purchasing an additional 39 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors.

Air Products and Chemicals Trading Up 0.9 %

APD stock opened at $323.23 on Wednesday. The business has a fifty day moving average price of $286.51 and a 200 day moving average price of $267.02. 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 $324.52. The stock has a market capitalization of $71.86 billion, a price-to-earnings ratio of 29.17, a P/E/G ratio of 3.87 and a beta of 0.82.

Air Products and Chemicals (NYSE:APD) last announced its earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.16. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.04 billion. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. Analysts expect that Air Products and Chemicals, Inc. will post 12.33 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders 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 dividend yield of 2.19%. Air Products and Chemicals’s payout ratio is 63.90%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on APD. StockNews.com upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. Wells Fargo & Company raised their target price on Air Products and Chemicals from $280.00 to $330.00 and gave the stock an “equal weight” rating in a research report on Friday, October 11th. BMO Capital Markets boosted their price target on shares of Air Products and Chemicals from $300.00 to $323.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Evercore ISI upgraded shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $305.00 to $365.00 in a research note on Monday, October 7th. Finally, Barclays lifted their target price on shares of Air Products and Chemicals from $290.00 to $295.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Air Products and Chemicals currently has a consensus rating of “Moderate Buy” and a consensus target price of $320.24.

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.