Wedmont Private Capital Invests $208,000 in Air Products and Chemicals, Inc. (NYSE:APD)

Wedmont Private Capital bought a new position in shares of Air Products and Chemicals, Inc. (NYSE:APDGet Rating) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 866 shares of the basic materials company’s stock, valued at approximately $208,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SJS Investment Consulting Inc. acquired a new stake in shares of Air Products and Chemicals during the first quarter worth about $30,000. Rise Advisors LLC increased its position in shares of Air Products and Chemicals by 57.7% during the first quarter. Rise Advisors LLC now owns 123 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 45 shares in the last quarter. Quent Capital LLC purchased a new position in shares of Air Products and Chemicals during the fourth quarter worth about $40,000. Rational Advisors LLC grew its holdings in shares of Air Products and Chemicals by 68.6% during the first quarter. Rational Advisors LLC now owns 145 shares of the basic materials company’s stock worth $36,000 after buying an additional 59 shares during the last quarter. Finally, FinTrust Capital Advisors LLC grew its holdings in shares of Air Products and Chemicals by 617.4% during the first quarter. FinTrust Capital Advisors LLC now owns 165 shares of the basic materials company’s stock worth $41,000 after buying an additional 142 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Air Products and Chemicals Price Performance

APD stock opened at $244.89 on Wednesday. The firm has a 50 day moving average of $250.89 and a 200-day moving average of $244.29. Air Products and Chemicals, Inc. has a 12-month low of $216.24 and a 12-month high of $316.39. The company has a current ratio of 1.87, a quick ratio of 1.72 and a debt-to-equity ratio of 0.48. The company has a market cap of $54.32 billion, a price-to-earnings ratio of 23.87, a PEG ratio of 1.69 and a beta of 0.79.

Air Products and Chemicals (NYSE:APDGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The basic materials company reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.61 by $0.01. Air Products and Chemicals had a net margin of 19.08% and a return on equity of 15.61%. The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same period last year, the firm earned $2.31 EPS. The company’s revenue for the quarter was up 22.4% on a year-over-year basis. As a group, equities analysts expect that Air Products and Chemicals, Inc. will post 10.29 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 14th. Stockholders of record on Monday, October 3rd will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.65%. Air Products and Chemicals’s payout ratio is 63.16%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on APD shares. JPMorgan Chase & Co. raised their price target on Air Products and Chemicals from $275.00 to $295.00 in a report on Friday, August 5th. Barclays raised their price target on Air Products and Chemicals from $275.00 to $295.00 and gave the stock an “equal weight” rating in a report on Monday, August 8th. BMO Capital Markets raised Air Products and Chemicals from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $283.00 to $321.00 in a report on Monday, August 15th. Wells Fargo & Company lowered their price target on Air Products and Chemicals from $255.00 to $243.00 and set an “equal weight” rating on the stock in a report on Monday, July 18th. Finally, Citigroup raised their price target on Air Products and Chemicals to $272.00 in a report on Monday, August 15th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $292.56.

Air Products and Chemicals Profile

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Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas; specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, manufacturing, food and beverage, electronics, magnetic resonance imaging, energy production and refining, and metals.

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Institutional Ownership by Quarter for Air Products and Chemicals (NYSE:APD)

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