Appian Way Asset Management LP Makes New Investment in Air Products and Chemicals, Inc. (NYSE:APD)

Appian Way Asset Management LP acquired a new stake in Air Products and Chemicals, Inc. (NYSE:APD) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 20,131 shares of the basic materials company’s stock, valued at approximately $5,195,000. Air Products and Chemicals makes up 1.3% of Appian Way Asset Management LP’s holdings, making the stock its 19th biggest holding.

Several other large investors have also made changes to their positions in the business. Security National Bank purchased a new position in Air Products and Chemicals during the fourth quarter valued at $27,000. Thompson Investment Management Inc. purchased a new stake in Air Products and Chemicals during the 1st quarter worth approximately $27,000. Transcendent Capital Group LLC acquired a new position in shares of Air Products and Chemicals during the fourth quarter valued at approximately $28,000. Meeder Asset Management Inc. purchased a new position in shares of Air Products and Chemicals in the second quarter valued at approximately $32,000. Finally, Hexagon Capital Partners LLC boosted its stake in shares of Air Products and Chemicals by 2,250.0% in the first quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 135 shares during the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on APD. Deutsche Bank Aktiengesellschaft lowered Air Products and Chemicals from a “buy” rating to a “hold” rating and decreased their price objective for the company from $310.00 to $280.00 in a report on Monday, July 22nd. BMO Capital Markets boosted their price target on shares of Air Products and Chemicals from $300.00 to $323.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. The Goldman Sachs Group increased their price objective on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a report on Monday, August 5th. StockNews.com upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Monday. Finally, Wells Fargo & Company lifted their price objective on Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $297.40.

Air Products and Chemicals Trading Up 1.4 %

NYSE APD opened at $291.99 on Tuesday. 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 $64.91 billion, a P/E ratio of 26.35, a PEG ratio of 3.70 and a beta of 0.82. The firm’s 50-day moving average is $274.87 and its two-hundred day moving average is $260.12. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $296.00.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data on Thursday, August 1st. The basic materials company reported $3.20 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.16. The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations 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, sell-side analysts anticipate that Air Products and Chemicals, Inc. will post 12.32 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

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 annualized dividend and a yield of 2.42%. The ex-dividend date is Tuesday, October 1st. Air Products and Chemicals’s payout ratio is 63.90%.

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.