740 Shares in Air Products and Chemicals, Inc. (NYSE:APD) Purchased by Aprio Wealth Management LLC

Aprio Wealth Management LLC purchased a new position in Air Products and Chemicals, Inc. (NYSE:APD) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 740 shares of the basic materials company’s stock, valued at approximately $220,000.

A number of other institutional investors also recently bought and sold shares of APD. Capital Research Global Investors increased its stake in shares of Air Products and Chemicals by 62.3% in the first quarter. Capital Research Global Investors now owns 11,230,051 shares of the basic materials company’s stock worth $2,720,704,000 after acquiring an additional 4,309,040 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Air Products and Chemicals by 4.2% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,062,859 shares of the basic materials company’s stock valued at $790,371,000 after purchasing an additional 122,676 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Air Products and Chemicals by 127.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,792,470 shares of the basic materials company’s stock worth $720,597,000 after purchasing an additional 1,564,169 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Air Products and Chemicals by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,034,818 shares of the basic materials company’s stock valued at $525,085,000 after buying an additional 5,140 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in shares of Air Products and Chemicals by 25.2% in the 2nd quarter. Clearbridge Investments LLC now owns 1,936,582 shares of the basic materials company’s stock valued at $499,735,000 after buying an additional 389,380 shares during the period. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Performance

Shares of NYSE:APD opened at $310.36 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.10. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $313.00. The firm has a market capitalization of $68.99 billion, a PE ratio of 28.01, a P/E/G ratio of 3.89 and a beta of 0.82. The business’s 50 day moving average price is $281.61 and its 200-day moving average price is $263.79.

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

Air Products and Chemicals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, October 1st will be issued a $1.77 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $7.08 dividend on an annualized basis and a yield of 2.28%. Air Products and Chemicals’s payout ratio is 63.90%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on APD shares. The Goldman Sachs Group raised 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. Evercore ISI upgraded shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $305.00 to $365.00 in a research note on Monday. JPMorgan Chase & Co. raised their price target on shares of Air Products and Chemicals from $300.00 to $340.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Citigroup lifted their price objective on shares of Air Products and Chemicals from $330.00 to $345.00 and gave the company a “buy” rating in a report on Monday. Finally, Wells Fargo & Company raised their target price on Air Products and Chemicals from $240.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $309.18.

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.