AE Wealth Management LLC boosted its position in Air Products and Chemicals, Inc. (NYSE:APD – Free Report) by 28.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,056 shares of the basic materials company’s stock after purchasing an additional 3,340 shares during the quarter. AE Wealth Management LLC’s holdings in Air Products and Chemicals were worth $4,510,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Air Products and Chemicals by 0.7% in the 1st quarter. BlackRock Inc. now owns 14,595,383 shares of the basic materials company’s stock valued at $4,191,940,000 after purchasing an additional 104,973 shares during the period. Bank of America Corp DE boosted its stake in Air Products and Chemicals by 3.7% in the 1st quarter. Bank of America Corp DE now owns 6,654,402 shares of the basic materials company’s stock valued at $1,911,211,000 after purchasing an additional 239,381 shares during the period. Morgan Stanley boosted its stake in Air Products and Chemicals by 26.0% in the 4th quarter. Morgan Stanley now owns 5,414,008 shares of the basic materials company’s stock valued at $1,668,923,000 after purchasing an additional 1,115,729 shares during the period. Geode Capital Management LLC lifted its position in shares of Air Products and Chemicals by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 4,168,703 shares of the basic materials company’s stock valued at $1,283,417,000 after acquiring an additional 94,630 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in shares of Air Products and Chemicals by 0.3% during the 4th quarter. Wells Fargo & Company MN now owns 4,098,226 shares of the basic materials company’s stock worth $1,263,319,000 after purchasing an additional 13,001 shares in the last quarter. 82.62% of the stock is currently owned by institutional investors.
Air Products and Chemicals Price Performance
Shares of APD stock opened at $294.81 on Thursday. 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, Inc. has a twelve month low of $224.75 and a twelve month high of $328.56. The company has a market cap of $65.49 billion, a P/E ratio of 29.99, a P/E/G ratio of 2.55 and a beta of 0.87. The business has a fifty day simple moving average of $294.77 and a 200 day simple moving average of $287.87.
Air Products and Chemicals Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Monday, October 2nd will be given a $1.75 dividend. The ex-dividend date is Friday, September 29th. This represents a $7.00 annualized dividend and a yield of 2.37%. Air Products and Chemicals’s dividend payout ratio is presently 71.21%.
Wall Street Analysts Forecast Growth
APD has been the topic of several analyst reports. StockNews.com initiated coverage on Air Products and Chemicals in a report on Thursday, August 17th. They set a “hold” rating on the stock. Mizuho increased their target price on Air Products and Chemicals from $322.00 to $330.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Finally, Citigroup initiated coverage on Air Products and Chemicals in a report on Tuesday, June 13th. They set a “buy” rating and a $317.00 target price on the stock. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $318.93.
Air Products and Chemicals Profile
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.
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