Marion Wealth Management Has $1.59 Million Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Marion Wealth Management raised its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 6.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,339 shares of the basic materials company’s stock after acquiring an additional 304 shares during the period. Marion Wealth Management’s holdings in Air Products and Chemicals were worth $1,590,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Blue Zone Wealth Advisors LLC increased its holdings in Air Products and Chemicals by 1.8% in the 3rd quarter. Blue Zone Wealth Advisors LLC now owns 14,636 shares of the basic materials company’s stock valued at $4,358,000 after buying an additional 253 shares during the period. Chesley Taft & Associates LLC raised its position in Air Products and Chemicals by 1.9% during the third quarter. Chesley Taft & Associates LLC now owns 24,577 shares of the basic materials company’s stock valued at $7,318,000 after purchasing an additional 450 shares in the last quarter. Callan Family Office LLC bought a new stake in Air Products and Chemicals during the third quarter worth $233,000. Aprio Wealth Management LLC acquired a new stake in shares of Air Products and Chemicals in the 3rd quarter valued at $220,000. Finally, Chapin Davis Inc. raised its holdings in shares of Air Products and Chemicals by 5.8% during the 3rd quarter. Chapin Davis Inc. now owns 7,384 shares of the basic materials company’s stock worth $2,199,000 after buying an additional 404 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Air Products and Chemicals Trading Down 1.4 %

Shares of APD stock opened at $308.35 on Tuesday. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $313.00. 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 stock has a 50 day simple moving average of $280.67 and a two-hundred day simple moving average of $263.24. The company has a market cap of $68.55 billion, a P/E ratio of 28.03, a PEG ratio of 3.89 and a beta of 0.82.

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

Air Products and Chemicals Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 2.30%. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 63.90%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wells Fargo & Company raised 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. Vertical Research raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price objective for the company in a research note on Monday. Bank of America upped their price target on shares of Air Products and Chemicals from $275.00 to $312.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Jefferies Financial Group raised Air Products and Chemicals from a “hold” rating to a “buy” rating and lifted their price target for the company from $295.00 to $364.00 in a research note on Monday. Finally, The Goldman Sachs Group lifted their target price on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Air Products and Chemicals currently has an average rating of “Moderate Buy” and a consensus target price of $309.18.

Air Products and Chemicals Company 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.