Shares of Air Products and Chemicals, Inc. (NYSE:APD) sold by FineMark National Bank & Trust

VaselineSeptember 6, 2024

0 3 minutes read

FineMark National Bank & Trust reduced its holdings in Air Products and Chemicals, Inc. (NYSE:APD – Free Report) by 15.5% in the second quarter, Holdings Channel.com reports. The fund owned 6,518 shares of the basic materials company’s stock after selling 1,194 shares during the period. FineMark National Bank & Trust’s holdings in Air Products and Chemicals were worth $1,682,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Sachetta LLC acquired a new stake in Air Products and Chemicals in the fourth quarter valued at approximately $27,000. Security National Bank acquired a new stake in shares of Air Products and Chemicals during the fourth quarter valued at $27,000. Transcendent Capital Group LLC acquired a new position in shares of Air Products and Chemicals in the 4th quarter valued at $28,000. Thompson Investment Management Inc. purchased a new position in Air Products and Chemicals in the first quarter worth $27,000. Finally, Clear Investment Research LLC lifted its position in Air Products and Chemicals by 700.0% during the 4th quarter. Clear Investment Research LLC now owns 128 shares of the basic materials company’s stock worth $35,000 , after acquiring an additional 112 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s shares.

Analyst upgrades and downgrades

A number of research analysts recently weighed in on the company. Citigroup boosted their price objective on Air Products and Chemicals from $280.00 to $305.00 and gave the company a “buy” rating in a report on Friday, July 12th. Goldman Sachs Group upped 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 report on Monday, August 5th. Deutsche Bank Aktiengesellschaft downgraded shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and decreased their price objective for the company from $310.00 to $280.00 in a report from Monday, July 22. 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, August 20th. Finally, Barclays boosted their target price on shares of Air Products and Chemicals from $290.00 to $295.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $297.40, based on data from MarketBeat.

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Trading of air products and chemicals fell by 0.4%

Shares of NYSE:APD opened at $273.50 on Friday. The firm has a market cap of $60.80 billion, a price-to-earnings ratio of 24.68, a price-to-earnings-growth ratio of 3.72 and a beta of 0.81. The company’s 50-day moving average price is $268.16 and its 200-day moving average price is $255.69. 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, Inc. has a 1 year low of $212.24 and a 1 year high of $307.71.

Air Products and Chemicals (NYSE:APD – Get Free Report ) last announced its earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.16. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $3.04 billion. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. On average, equities research analysts forecast that Air Products and Chemicals, Inc. will post 12.32 earnings per share for the current fiscal 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 an annualized dividend of $7.08 and a yield of 2.59%. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 63.90%.

About 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.