Air Products and Chemicals, Inc. (NYSE:APD) Shares Bought by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC boosted its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 9.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,878 shares of the basic materials company’s stock after buying an additional 239 shares during the period. Pallas Capital Advisors LLC’s holdings in Air Products and Chemicals were worth $767,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Roble Belko & Company Inc bought a new stake in Air Products and Chemicals during the fourth quarter worth approximately $27,000. Sachetta LLC bought a new position in Air Products and Chemicals during the fourth quarter valued at about $27,000. Security National Bank acquired a new position in Air Products and Chemicals during the fourth quarter worth about $27,000. Thompson Investment Management Inc. acquired a new stake in Air Products and Chemicals in the 1st quarter valued at about $27,000. Finally, Transcendent Capital Group LLC bought a new position in shares of Air Products and Chemicals during the 4th quarter valued at about $28,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on APD shares. UBS Group boosted their target price on shares of Air Products and Chemicals from $276.00 to $281.00 and gave the stock a “neutral” rating in a report on Tuesday. Mizuho decreased their target price on Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. TD Cowen increased their price target on Air Products and Chemicals from $305.00 to $320.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. The Goldman Sachs Group boosted their price objective on Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Morgan Stanley upped 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. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $297.40.

Air Products and Chemicals Stock Performance

NYSE:APD traded down $1.21 during trading hours on Tuesday, hitting $272.96. 217,223 shares of the company traded hands, compared to its average volume of 1,701,682. The company has a current ratio of 1.27, a quick ratio of 1.31 and a debt-to-equity ratio of 0.77. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $307.71. The firm has a 50-day moving average of $267.47 and a 200 day moving average of $251.33. The stock has a market capitalization of $60.68 billion, a price-to-earnings ratio of 24.74, a P/E/G ratio of 3.17 and a beta of 0.81.

Air Products and Chemicals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, October 1st will be paid a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend is Tuesday, October 1st. Air Products and Chemicals’s payout ratio is presently 63.90%.

Air Products and Chemicals Company 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.