Nemes Rush Group LLC Buys 1,662 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Nemes Rush Group LLC grew its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 3.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,889 shares of the basic materials company’s stock after buying an additional 1,662 shares during the quarter. Air Products and Chemicals accounts for approximately 1.7% of Nemes Rush Group LLC’s holdings, making the stock its 19th largest position. Nemes Rush Group LLC’s holdings in Air Products and Chemicals were worth $12,358,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of APD. Magnolia Capital Advisors LLC bought a new position in Air Products and Chemicals in the second quarter valued at about $12,853,000. Creative Planning lifted its position in Air Products and Chemicals by 3.7% during the second quarter. Creative Planning now owns 69,071 shares of the basic materials company’s stock valued at $17,824,000 after purchasing an additional 2,433 shares in the last quarter. Doheny Asset Management CA purchased a new position in shares of Air Products and Chemicals during the 2nd quarter valued at about $357,000. MidWestOne Financial Group Inc. lifted its holdings in Air Products and Chemicals by 22.1% during the second quarter. MidWestOne Financial Group Inc. now owns 1,464 shares of the basic materials company’s stock valued at $378,000 after purchasing an additional 265 shares in the last quarter. Finally, Kathmere Capital Management LLC bought a new stake in shares of Air Products and Chemicals during the 2nd quarter valued at $359,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on APD shares. JPMorgan Chase & Co. upped their target price on shares of Air Products and Chemicals from $300.00 to $340.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. BMO Capital Markets increased their price objective 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. Barclays raised 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 note on Monday, August 5th. Morgan Stanley increased 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 report on Wednesday, June 5th. Finally, The Goldman Sachs Group lifted their target price on Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Air Products and Chemicals has an average rating of “Hold” and an average price target of $296.50.

Air Products and Chemicals Trading Up 0.3 %

Shares of NYSE APD opened at $300.36 on Friday. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $302.03. 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 business’s 50 day moving average is $277.35 and its two-hundred day moving average is $261.49. The stock has a market capitalization of $66.77 billion, a P/E ratio of 27.11, a PEG ratio of 3.89 and a beta of 0.82.

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 for the quarter, beating the consensus estimate of $3.04 by $0.16. The firm 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%. As a group, research analysts expect that Air Products and Chemicals, Inc. will post 12.33 EPS for the current year.

Air Products and Chemicals Announces Dividend

The company also recently declared 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. 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 2.36%. Air Products and Chemicals’s dividend payout ratio 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.