Main Street Financial Solutions LLC Acquires 104 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Main Street Financial Solutions LLC raised its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 2.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,936 shares of the basic materials company’s stock after buying an additional 104 shares during the period. Main Street Financial Solutions LLC’s holdings in Air Products and Chemicals were worth $1,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Essex Investment Management Co. LLC lifted its position in Air Products and Chemicals by 213.3% during the first quarter. Essex Investment Management Co. LLC now owns 94 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 64 shares during the last quarter. Meridian Wealth Partners LLC acquired a new position in shares of Air Products and Chemicals in the first quarter valued at about $30,000. Emerald Advisers LLC purchased a new position in shares of Air Products and Chemicals in the second quarter worth about $32,000. Tobam acquired a new stake in shares of Air Products and Chemicals during the first quarter worth about $39,000. Finally, Solstein Capital LLC acquired a new position in Air Products and Chemicals in the 1st quarter worth approximately $40,000. Institutional investors and hedge funds own 80.23% of the company’s stock.

A number of brokerages have recently commented on APD. Susquehanna upgraded Air Products and Chemicals from a “neutral” rating to a “positive” rating and upped their target price for the stock from $240.00 to $350.00 in a research note on Friday, June 11th. Cowen lowered their target price on shares of Air Products and Chemicals from $360.00 to $335.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 10th. HSBC dropped their price target on Air Products and Chemicals from $275.00 to $269.00 and set a “hold” rating for the company in a research report on Thursday, June 3rd. Susquehanna Bancshares upgraded shares of Air Products and Chemicals to a “positive” rating and raised their price target for the stock from $240.00 to $350.00 in a report on Friday, June 11th. Finally, Wolfe Research assumed coverage on Air Products and Chemicals in a research note on Wednesday, June 9th. They set an “outperform” rating for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $313.24.

NYSE:APD traded up $0.01 during mid-day trading on Wednesday, reaching $268.87. 15,188 shares of the stock were exchanged, compared to its average volume of 1,000,185. The stock has a market capitalization of $59.52 billion, a P/E ratio of 30.24, a P/E/G ratio of 2.83 and a beta of 0.74. Air Products and Chemicals, Inc. has a 1 year low of $245.75 and a 1 year high of $327.89. The company has a 50 day simple moving average of $279.46 and a 200-day simple moving average of $285.04. The company has a quick ratio of 2.94, a current ratio of 3.11 and a debt-to-equity ratio of 0.53.

Air Products and Chemicals (NYSE:APD) last announced its earnings results on Sunday, August 8th. The basic materials company reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.05). Air Products and Chemicals had a return on equity of 14.84% and a net margin of 20.15%. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter last year, the company posted $2.01 EPS. Air Products and Chemicals’s quarterly revenue was up 26.1% on a year-over-year basis. As a group, research analysts predict that Air Products and Chemicals, Inc. will post 9.01 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 8th. Investors of record on Friday, October 1st will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Thursday, September 30th. This represents a $6.00 annualized dividend and a dividend yield of 2.23%. Air Products and Chemicals’s payout ratio is 71.60%.

Air Products and Chemicals Profile

Air Products & Chemicals, Inc engages in the manufacture and distribution of atmospheric gases. It operates through the following segments: Industrial Gases-Americas, Industrial Gases-EMEA (Europe, Middle East, and Africa), Industrial Gases-Asia, Industrial Gases-Global and Corporate and Other. The Industrial Gases-America, EMEA and Asia segment markets and produces atmospheric gases such as oxygen, nitrogen, argon, and rare gases, process gases such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas and specialty gases and equipment for the production and processing of gases such as air separation units and non-cryogenic generators.

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

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