Shares of Air Products and Chemicals, Inc. (NYSE:APD) bought by Natixis Advisors LLC

VaselineSeptember 3, 2024

0 4 minutes read

Natixis Advisors LLC increased its stake in Air Products and Chemicals, Inc. (NYSE:APD – Free Report) by 2.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 118,869 shares of the basic materials company’s stock after buying an additional 3,288 shares during the quarter. Natixis Advisors LLC owned approximately 0.05% of Air Products and Chemicals worth $30,674,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. GUNN & Co INVESTMENT MANAGEMENT INC. purchased a new position in shares of Air Products and Chemicals in the fourth quarter valued at about $315,000. Merit Financial Group LLC boosted its stake in Air Products and Chemicals by 23.1% in the fourth quarter. Merit Financial Group LLC now owns 1,454 shares of the basic materials company’s stock worth $398,000 after buying an additional 273 shares in the last quarter. National Bank of Canada FI boosted its stake in Air Products and Chemicals by 0.9% in the fourth quarter. National Bank of Canada FI now owns 55,111 shares of the basic materials company’s stock worth $15,071,000 after buying an additional 506 shares in the last quarter. Spire Wealth Management boosted its holdings in shares of Air Products and Chemicals by 8.1% in the fourth quarter. Spire Wealth Management now owns 2,405 shares of the basic materials company’s stock worth $627,000 after purchasing an additional 181 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC raised its stake in shares of Air Products and Chemicals by 8.6% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 5,730 shares of the basic materials company’s stock worth $1,569,000 after buying an additional 452 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s shares.

Analysts set new price targets

A number of brokerages have commented on APD. Goldman Sachs Group raised their target price on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. BMO Capital Markets raised their target price on shares of Air Products and Chemicals from $300.00 to $323.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. UBS Group raised 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 research note on Tuesday, August 20th. Wells Fargo & Company raised their target price on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, StockNews.com raised shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $297.40.

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Inventories of air products and chemicals rose 0.6%

Shares of APD stock opened at $278.85 on Tuesday. The company has a fifty day moving average price of $267.57 and a 200 day moving average price of $255.09. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $307.71. The company has a market cap of $61.99 billion, a price-to-earnings ratio of 25.17, a price-to-earnings-growth ratio of 3.72 and a beta of 0.81. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27, and a quick ratio of 1.10.

Air Products and Chemicals (NYSE:APD – Get Your Free Report ) last posted its quarterly earnings results on Thursday, August 1st. The basic materials company reported $3.20 EPS for the quarter, topping the consensus estimate of $3.04 by $0.16. The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.04 billion. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. Sell-side analysts expect that Air Products and Chemicals, Inc. to post 12.32 earnings per share for the current year.

Air Products and Chemicals announces dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, October 1st will be paid a dividend of $1.77 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a dividend of $7.08 on an annualized basis and a yield of 2.54%. Air Products and Chemicals’s payout ratio is currently 63.90%.

Profile of Air Products and Chemicals

(Free report)

Air Products and Chemicals, Inc provides atmospheric, process and specialty gases, equipment and related services in the Americas, Asia, Europe, 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 synthesis gas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, power generation, medical, food and metals.