Fiduciary Financial Group LLC Acquires New Position in Air Products and Chemicals, Inc. (NYSE:APD)

Fiduciary Financial Group LLC acquired a new stake in Air Products and Chemicals, Inc. (NYSE:APD) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 902 shares of the basic materials company’s stock, valued at approximately $241,000.

Other hedge funds have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Air Products and Chemicals by 4.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 85,173 shares of the basic materials company’s stock worth $23,320,000 after buying an additional 3,491 shares during the period. Slow Capital Inc. boosted its stake in Air Products and Chemicals by 14.1% during the fourth quarter. Slow Capital Inc. now owns 6,138 shares of the basic materials company’s stock worth $1,688,000 after buying an additional 758 shares during the period. Rakuten Securities Inc. purchased a new position in Air Products and Chemicals during the fourth quarter worth about $33,000. Telos Capital Management Inc. purchased a new position in Air Products and Chemicals during the fourth quarter worth about $1,031,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Air Products and Chemicals by 50.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 663 shares of the basic materials company’s stock worth $183,000 after buying an additional 221 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

APD has been the subject of several recent research reports. Morgan Stanley raised their price objective on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 5th. The Goldman Sachs Group raised their price objective on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Citigroup raised their price objective on shares of Air Products and Chemicals from $280.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Bank of America raised their price objective on shares of Air Products and Chemicals from $275.00 to $312.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Finally, Wells Fargo & Company raised their price objective on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $296.53.

Air Products and Chemicals Stock Up 0.8 %

APD stock traded up $2.16 during midday trading on Friday, reaching $276.04. 763,947 shares of the company were exchanged, compared to its average volume of 1,718,380. The stock’s 50-day simple moving average is $267.70 and its 200 day simple moving average is $251.21. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $307.71. The company has a market cap of $61.37 billion, a price-to-earnings ratio of 24.91, a price-to-earnings-growth ratio of 3.17 and a beta of 0.81. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.31 and a current ratio of 1.27.

Air Products and Chemicals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, October 1st will be given a $1.77 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $7.08 annualized dividend and a yield of 2.56%. Air Products and Chemicals’s dividend payout ratio (DPR) is 63.90%.

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; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.