Frank Rimerman Advisors LLC Acquires New Shares in Air Products and Chemicals, Inc. (NYSE:APD)

Frank Rimerman Advisors LLC bought a new stake in Air Products and Chemicals, Inc. (NYSE:APD) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,055 shares of the basic materials company’s stock, valued at approximately $530,000.

Other large investors have also modified their holdings of the company. Gryphon Financial Partners LLC acquired a new position in Air Products and Chemicals during the fourth quarter worth $486,000. Quest Partners LLC acquired a new position in Air Products and Chemicals in the 4th quarter valued at about $230,000. Congress Wealth Management LLC DE increased its stake in Air Products and Chemicals by 98.1% during the fourth quarter. Congress Wealth Management LLC DE now owns 7,826 shares of the basic materials company’s stock worth $2,143,000 after purchasing an additional 3,876 shares during the period. Hsbc Holdings PLC lifted its position in shares of Air Products and Chemicals by 36.2% during the fourth quarter. Hsbc Holdings PLC now owns 400,894 shares of the basic materials company’s stock worth $109,732,000 after purchasing an additional 106,614 shares in the last quarter. Finally, Hilltop Holdings Inc. boosted its stake in shares of Air Products and Chemicals by 65.9% in the fourth quarter. Hilltop Holdings Inc. now owns 2,511 shares of the basic materials company’s stock valued at $688,000 after purchasing an additional 997 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. UBS Group increased their target price on shares of Air Products and Chemicals from $276.00 to $281.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. BMO Capital Markets upped their price target on Air Products and Chemicals from $300.00 to $323.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Wells Fargo & Company lifted their price objective on 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. StockNews.com raised Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Monday. Finally, Bank of America raised their target price on shares of Air Products and Chemicals from $275.00 to $312.00 and gave the company a “buy” rating in a report on Monday, June 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Air Products and Chemicals currently has a consensus rating of “Hold” and a consensus target price of $297.40.

Air Products and Chemicals Stock Performance

Shares of APD opened at $291.99 on Tuesday. The firm has a market capitalization of $64.91 billion, a PE ratio of 26.35, a P/E/G ratio of 3.70 and a beta of 0.82. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average price of $274.87 and a 200 day moving average price of $260.12. Air Products and Chemicals, Inc. has a 52-week low of $212.24 and a 52-week 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 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 the consensus estimate of $3.04 billion. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. On average, sell-side analysts anticipate that Air Products and Chemicals, Inc. will post 12.32 earnings per share for the current fiscal 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 paid a dividend of $1.77 per share. The ex-dividend date is Tuesday, October 1st. This represents a $7.08 annualized dividend and a yield of 2.42%. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 63.90%.

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.