3Chopt Investment Partners LLC Acquires Shares of 2,249 Air Products and Chemicals, Inc. (NYSE:APD)

3Chopt Investment Partners LLC bought a new position in shares of Air Products and Chemicals, Inc. (NYSE:APD) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,249 shares of the basic materials company’s stock, valued at approximately $580,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Security National Bank acquired a new position in Air Products and Chemicals during the fourth quarter worth $27,000. Thompson Investment Management Inc. acquired a new position in shares of Air Products and Chemicals during the 1st quarter worth about $27,000. Transcendent Capital Group LLC purchased a new position in Air Products and Chemicals in the 4th quarter valued at about $28,000. Meeder Asset Management Inc. acquired a new stake in Air Products and Chemicals in the 2nd quarter worth about $32,000. Finally, Hexagon Capital Partners LLC increased its stake in Air Products and Chemicals by 2,250.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company’s stock worth $34,000 after buying an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

APD has been the topic of several research reports. BMO Capital Markets raised their target price on Air Products and Chemicals from $300.00 to $323.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. The Goldman Sachs Group raised their price objective on Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a report on Monday, August 5th. 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. Deutsche Bank Aktiengesellschaft lowered shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and lowered their price target for the stock from $310.00 to $280.00 in a research report on Monday, July 22nd. Finally, Barclays increased their price objective on shares of Air Products and Chemicals from $290.00 to $295.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $296.50.

Air Products and Chemicals Trading Down 0.9 %

Shares of Air Products and Chemicals stock opened at $297.74 on Tuesday. The stock has a 50 day moving average of $278.33 and a 200 day moving average of $261.96. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.27. The firm has a market capitalization of $66.19 billion, a price-to-earnings ratio of 26.87, a PEG ratio of 3.89 and a beta of 0.82. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $302.03.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings results 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 business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations 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 predict that Air Products and Chemicals, Inc. will post 12.33 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. Shareholders of record on Tuesday, October 1st will be given a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.38%. 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.