Ieq Capital LLC Grows Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Ieq Capital LLC increased its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APDGet Rating) by 39.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,308 shares of the basic materials company’s stock after acquiring an additional 1,781 shares during the period. Ieq Capital LLC’s holdings in Air Products and Chemicals were worth $1,468,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of APD. Sierra Capital LLC raised its position in shares of Air Products and Chemicals by 1,060.0% during the 2nd quarter. Sierra Capital LLC now owns 116 shares of the basic materials company’s stock valued at $28,000 after buying an additional 106 shares during the period. Western Pacific Wealth Management LP purchased a new stake in Air Products and Chemicals in the third quarter valued at approximately $31,000. Artemis Wealth Advisors LLC purchased a new stake in Air Products and Chemicals in the second quarter valued at approximately $33,000. Heritage Financial Services LLC purchased a new stake in Air Products and Chemicals in the second quarter valued at approximately $36,000. Finally, Tobam purchased a new stake in Air Products and Chemicals in the third quarter valued at approximately $51,000. 82.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. BMO Capital Markets boosted their target price on Air Products and Chemicals from $339.00 to $390.00 and gave the company an “outperform” rating in a research report on Tuesday, November 22nd. JPMorgan Chase & Co. decreased their price objective on Air Products and Chemicals from $295.00 to $290.00 in a research note on Friday, November 4th. Berenberg Bank cut their target price on shares of Air Products and Chemicals from $290.00 to $260.00 and set a “hold” rating on the stock in a research note on Wednesday, October 12th. Bank of America raised their target price on shares of Air Products and Chemicals from $281.00 to $308.00 in a report on Monday, November 7th. Finally, The Goldman Sachs Group increased their price objective on shares of Air Products and Chemicals from $295.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, November 9th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $313.79.

Insider Activity

In related news, VP Sean D. Major sold 485 shares of Air Products and Chemicals stock in a transaction on Tuesday, December 20th. The shares were sold at an average price of $313.00, for a total value of $151,805.00. Following the transaction, the vice president now directly owns 14,275 shares in the company, valued at approximately $4,468,075. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.40% of the company’s stock.

Air Products and Chemicals Stock Performance

Shares of Air Products and Chemicals stock opened at $313.34 on Wednesday. The firm’s fifty day simple moving average is $310.03 and its 200-day simple moving average is $271.23. The stock has a market capitalization of $69.52 billion, a price-to-earnings ratio of 30.90, a PEG ratio of 2.04 and a beta of 0.83. Air Products and Chemicals, Inc. has a 12 month low of $216.24 and a 12 month high of $328.56. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.81 and a quick ratio of 1.66.

Air Products and Chemicals (NYSE:APDGet Rating) last announced its earnings results on Thursday, November 3rd. The basic materials company reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.12. The business had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.23 billion. Air Products and Chemicals had a net margin of 17.77% and a return on equity of 16.31%. The company’s quarterly revenue was up 25.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.51 EPS. As a group, equities analysts forecast that Air Products and Chemicals, Inc. will post 11.42 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 13th. Stockholders of record on Tuesday, January 3rd will be issued a $1.62 dividend. The ex-dividend date of this dividend is Friday, December 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.07%. Air Products and Chemicals’s payout ratio is 63.91%.

Air Products and Chemicals Profile

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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.

Further Reading

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

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