Iowa State Bank bought a new position in Air Products and Chemicals, Inc. (NYSE:APD – Free Report) in the 3rd quarter, HoldingsChannel reports. The fund bought 4,000 shares of the basic materials company’s stock, valued at approximately $1,113,000.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Legacy Private Trust Co. lifted its stake in Air Products and Chemicals by 1,319.7% during the third quarter. Legacy Private Trust Co. now owns 43,217 shares of the basic materials company’s stock worth $11,779,000 after purchasing an additional 40,173 shares during the last quarter. Rosenberg Matthew Hamilton increased its stake in Air Products and Chemicals by 252.3% during the third quarter. Rosenberg Matthew Hamilton now owns 2,540 shares of the basic materials company’s stock valued at $696,000 after purchasing an additional 1,819 shares during the last quarter. Acima Private Wealth LLC increased its stake in Air Products and Chemicals by 244.7% during the third quarter. Acima Private Wealth LLC now owns 5,171 shares of the basic materials company’s stock valued at $1,416,000 after purchasing an additional 3,671 shares during the last quarter. Olistico Wealth LLC raised its holdings in shares of Air Products and Chemicals by 270.5% during the third quarter. Olistico Wealth LLC now owns 741 shares of the basic materials company’s stock worth $203,000 after purchasing an additional 541 shares during the period. Finally, Park National Corp OH lifted its position in shares of Air Products and Chemicals by 66.7% in the 3rd quarter. Park National Corp OH now owns 24,538 shares of the basic materials company’s stock worth $6,761,000 after buying an additional 9,817 shares during the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.
Air Products and Chemicals Stock Performance
Shares of APD stock traded up $2.76 during trading hours on Tuesday, reaching $282.21. The stock had a trading volume of 266,223 shares, compared to its average volume of 1,286,668. The firm has a market capitalization of $62.84 billion, a PE ratio of -1,282.77, a price-to-earnings-growth ratio of 2.61 and a beta of 0.76. The firm has a 50-day simple moving average of $295.61 and a 200-day simple moving average of $293.30. Air Products and Chemicals, Inc. has a twelve month low of $229.11 and a twelve month high of $314.87. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.08 and a quick ratio of 0.92.
Air Products and Chemicals Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Thursday, October 1st will be issued a $1.81 dividend. This represents a $7.24 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Thursday, October 1st. Air Products and Chemicals’s dividend payout ratio is -3,290.91%.
Wall Street Analyst Weigh In
Several research firms have recently commented on APD. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $320.00 price target on shares of Air Products and Chemicals in a report on Monday, August 3rd. KeyCorp initiated coverage on shares of Air Products and Chemicals in a report on Thursday, September 10th. They issued a “sector weight” rating on the stock. Mizuho lifted their target price on Air Products and Chemicals from $345.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $373.00 target price on shares of Air Products and Chemicals in a report on Friday, July 31st. Finally, Evercore reiterated an “outperform” rating and set a $342.00 price target on shares of Air Products and Chemicals in a research report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $334.69.
Read Our Latest Analysis on APD
Air Products and Chemicals Company Profile
Air Products and Chemicals, Inc is a global industrial gases and related equipment company headquartered in Allentown, Pennsylvania. The company supplies atmospheric gases such as oxygen, nitrogen and argon, as well as process and specialty gases including hydrogen, helium, carbon dioxide and syngas.
Air Products serves customers in a range of industries, including refining, chemicals, metals, electronics, manufacturing, food and beverage, healthcare and energy. Its offerings include gases delivered through pipelines, bulk and packaged distribution, and on-site production systems, along with gas-processing equipment and technologies used in applications such as hydrogen production, natural gas liquefaction and carbon capture.
Founded in 1940, Air Products operates across North America, Europe, the Middle East, Asia and other international markets.
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