Valeo Financial Advisors LLC increased its holdings in Air Products and Chemicals, Inc. (NYSE:APD – Free Report) by 452.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,462 shares of the basic materials company’s stock after buying an additional 11,843 shares during the period. Valeo Financial Advisors LLC’s holdings in Air Products and Chemicals were worth $3,952,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also added to or reduced their stakes in the stock. Evolution Wealth Management Inc. acquired a new stake in shares of Air Products and Chemicals during the 1st quarter worth $25,000. Fiduciary Financial Advisors acquired a new position in Air Products and Chemicals in the second quarter valued at about $25,000. Cornerstone Planning Group LLC lifted its position in Air Products and Chemicals by 318.2% during the first quarter. Cornerstone Planning Group LLC now owns 92 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 70 shares during the period. Main Street Group LTD acquired a new stake in Air Products and Chemicals during the first quarter worth about $27,000. Finally, MJT & Associates Financial Advisory Group Inc. raised its position in shares of Air Products and Chemicals by 77.6% in the 3rd quarter. MJT & Associates Financial Advisory Group Inc. now owns 103 shares of the basic materials company’s stock valued at $28,000 after buying an additional 45 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.
Air Products and Chemicals Trading Down 0.1%
Shares of APD stock traded down $0.27 during mid-day trading on Thursday, reaching $277.85. 278,126 shares of the stock traded hands, compared to its average volume of 1,282,460. The stock’s fifty day simple moving average is $295.02 and its two-hundred day simple moving average is $293.25. Air Products and Chemicals, Inc. has a 1-year low of $229.11 and a 1-year high of $314.87. The company has a market cap of $61.87 billion, a price-to-earnings ratio of -1,263.42, a price-to-earnings-growth ratio of 2.64 and a beta of 0.76. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.01.
Air Products and Chemicals Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Thursday, October 1st will be given a dividend of $1.81 per share. 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 currently -3,290.91%.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on APD shares. Royal Bank Of Canada lifted their price objective on shares of Air Products and Chemicals from $358.00 to $360.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $320.00 target price on shares of Air Products and Chemicals in a report on Monday, August 3rd. UBS Group lowered their price target on Air Products and Chemicals from $336.00 to $305.00 and set a “neutral” rating for the company in a report on Monday. Sanford C. Bernstein restated an “outperform” rating and set a $373.00 price objective on shares of Air Products and Chemicals in a research report on Friday, July 31st. Finally, Weiss Ratings lowered Air Products and Chemicals from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $333.56.
Read Our Latest Stock Analysis on APD
Air Products and Chemicals 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.
Further Reading
- Five stocks we like better than Air Products and Chemicals
- PepsiCo Stock Looks Poised to Bottom With High Yield, Deep Value
- Alphabet’s $1.8 Billion Black Hills Deal Powers AI Data Center Push
- This Space ETF Offers SpaceX Exposure—But Investors Are Paying for the Volatilit
- Does Lemonade’s Growth Signal Profits Ahead?
Want to see what other hedge funds are holding APD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Air Products and Chemicals, Inc. (NYSE:APD – Free Report).
Receive News & Ratings for Air Products and Chemicals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Air Products and Chemicals and related companies with MarketBeat.com's FREE daily email newsletter.
