Founders Capital Management Has $2.63 Million Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Founders Capital Management grew its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 4.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,767 shares of the basic materials company’s stock after acquiring an additional 340 shares during the period. Air Products and Chemicals accounts for 1.9% of Founders Capital Management’s holdings, making the stock its 17th largest position. Founders Capital Management’s holdings in Air Products and Chemicals were worth $2,626,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Delta Asset Management LLC TN acquired a new stake in shares of Air Products and Chemicals in the fourth quarter valued at approximately $28,000. Grey Fox Wealth Advisors LLC bought a new position in Air Products and Chemicals in the fourth quarter valued at approximately $30,000. Sageworth Trust Co bought a new position in Air Products and Chemicals in the first quarter valued at approximately $30,000. Trifecta Capital Advisors LLC increased its stake in Air Products and Chemicals by 1,250.0% in the first quarter. Trifecta Capital Advisors LLC now owns 108 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 100 shares during the last quarter. Finally, NewSquare Capital LLC bought a new position in Air Products and Chemicals in the first quarter valued at approximately $32,000. 82.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on APD shares. Mizuho lifted their price objective on shares of Air Products and Chemicals from $322.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Citigroup started coverage on shares of Air Products and Chemicals in a research note on Tuesday, June 13th. They issued a “buy” rating and a $317.00 price objective on the stock. Finally, StockNews.com started coverage on shares of Air Products and Chemicals in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $318.93.

Air Products and Chemicals Price Performance

Shares of NYSE APD traded up $0.08 during midday trading on Friday, reaching $306.18. 522,848 shares of the company were exchanged, compared to its average volume of 906,992. The stock’s 50-day moving average price is $293.69 and its 200-day moving average price is $287.49. The stock has a market cap of $68.02 billion, a P/E ratio of 31.14, a PEG ratio of 2.58 and a beta of 0.87. Air Products and Chemicals, Inc. has a one year low of $224.75 and a one year high of $328.56. The company has a quick ratio of 1.19, a current ratio of 1.36 and a debt-to-equity ratio of 0.56.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.07. Air Products and Chemicals had a net margin of 16.88% and a return on equity of 17.18%. The company had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.29 billion. During the same quarter in the previous year, the firm posted $2.62 earnings per share. Air Products and Chemicals’s revenue for the quarter was down 4.9% on a year-over-year basis. On average, sell-side analysts anticipate that Air Products and Chemicals, Inc. will post 11.47 earnings per share for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Monday, October 2nd will be issued a $1.75 dividend. The ex-dividend date is Friday, September 29th. This represents a $7.00 annualized dividend and a yield of 2.29%. Air Products and Chemicals’s payout ratio is 71.21%.

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; 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, manufacturing, electronics, magnetic resonance imaging, energy production, medical, food, and metals.