Doheny Asset Management CA Makes New $357,000 Investment in Air Products and Chemicals, Inc. (NYSE:APD)

Doheny Asset Management CA acquired a new stake in Air Products and Chemicals, Inc. (NYSE:APD) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,477 shares of the basic materials company’s stock, valued at approximately $357,000.

A number of other institutional investors and hedge funds have also made changes to their positions in APD. Cape Investment Advisory Inc. lifted its position in shares of Air Products and Chemicals by 1.0% during the 1st quarter. Cape Investment Advisory Inc. now owns 3,740 shares of the basic materials company’s stock worth $906,000 after purchasing an additional 37 shares during the last quarter. First Citizens Bank & Trust Co. boosted its holdings in Air Products and Chemicals by 0.4% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 10,906 shares of the basic materials company’s stock valued at $2,814,000 after purchasing an additional 39 shares in the last quarter. Verdence Capital Advisors LLC increased its position 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 worth $455,000 after purchasing an additional 39 shares during the period. Stokes Family Office LLC raised its stake in shares of Air Products and Chemicals by 3.4% during the 2nd quarter. Stokes Family Office LLC now owns 1,213 shares of the basic materials company’s stock worth $313,000 after buying an additional 40 shares in the last quarter. Finally, Invesco LLC lifted its holdings in shares of Air Products and Chemicals by 2.6% in the 2nd quarter. Invesco LLC now owns 1,581 shares of the basic materials company’s stock valued at $408,000 after buying an additional 40 shares during the period. 81.66% of the stock is owned by institutional investors and hedge funds.

Air Products and Chemicals Price Performance

Shares of NYSE:APD opened at $300.36 on Friday. The company has a market cap of $66.77 billion, a P/E ratio of 27.11, a P/E/G ratio of 3.89 and a beta of 0.82. The business has a fifty day simple moving average of $277.35 and a 200-day simple moving average of $261.49. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $302.03. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.77.

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

Air Products and Chemicals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, October 1st will be given a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.36%. The ex-dividend date is Tuesday, October 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 63.90%.

Analysts Set New Price Targets

APD has been the topic of a number of recent analyst reports. StockNews.com raised Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. Morgan Stanley raised their price objective on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 5th. UBS Group upped 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 research report on Tuesday, August 20th. Barclays lifted their price target 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. Finally, JPMorgan Chase & Co. raised their price objective on Air Products and Chemicals from $300.00 to $340.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $296.50.

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.