Quotient Wealth Partners LLC Acquires Shares of 1,737 Air Products and Chemicals, Inc. (NYSE:APD)

Quotient Wealth Partners LLC bought a new position in shares of Air Products and Chemicals, Inc. (NYSE:APD) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,737 shares of the basic materials company’s stock, valued at approximately $448,000.

Several other hedge funds have also modified their holdings of the business. Bowman & Co S.C. grew its holdings in Air Products and Chemicals by 9.3% during the second quarter. Bowman & Co S.C. now owns 5,613 shares of the basic materials company’s stock worth $1,449,000 after acquiring an additional 479 shares during the period. Avalon Capital Management acquired a new position in shares of Air Products and Chemicals during the 2nd quarter worth $447,000. Powers Advisory Group LLC increased its holdings in shares of Air Products and Chemicals by 2.9% in the 2nd quarter. Powers Advisory Group LLC now owns 1,753 shares of the basic materials company’s stock valued at $452,000 after purchasing an additional 49 shares in the last quarter. JB Capital LLC lifted its stake in shares of Air Products and Chemicals by 4.4% in the second quarter. JB Capital LLC now owns 9,719 shares of the basic materials company’s stock valued at $2,508,000 after purchasing an additional 407 shares during the period. Finally, &PARTNERS boosted its holdings in Air Products and Chemicals by 788.7% during the second quarter. &PARTNERS now owns 20,288 shares of the basic materials company’s stock worth $5,239,000 after buying an additional 18,005 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on APD. Mizuho reduced their price target on shares of Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. UBS Group upped their target price on Air Products and Chemicals from $276.00 to $281.00 and gave the company a “neutral” rating in a report on Tuesday. TD Cowen lifted their price target on Air Products and Chemicals from $305.00 to $320.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Citigroup increased 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. Finally, Deutsche Bank Aktiengesellschaft cut shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and cut their target price for the stock from $310.00 to $280.00 in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Air Products and Chemicals has an average rating of “Hold” and a consensus price target of $297.40.

Air Products and Chemicals Trading Up 0.5 %

Shares of NYSE:APD traded up $1.43 during midday trading on Friday, reaching $275.86. The company’s stock had a trading volume of 514,167 shares, compared to its average volume of 1,682,664. The firm has a market cap of $61.33 billion, a price-to-earnings ratio of 24.90, a price-to-earnings-growth ratio of 3.17 and a beta of 0.81. The business has a 50 day moving average price of $266.97 and a 200 day moving average price of $252.17. 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 quick ratio of 1.31, a current ratio of 1.27 and a debt-to-equity ratio of 0.77.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results on Thursday, August 1st. The basic materials company reported $3.20 EPS for the quarter, beating the consensus estimate of $3.04 by $0.16. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. Research analysts forecast that Air Products and Chemicals, Inc. will post 12.29 EPS for the current year.

Air Products and Chemicals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, October 1st will be paid a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Tuesday, October 1st. Air Products and Chemicals’s dividend payout ratio is currently 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.