Stock Yards Bank & Trust Co. Purchases 240 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Stock Yards Bank & Trust Co. boosted its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 2.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,801 shares of the basic materials company’s stock after acquiring an additional 240 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Air Products and Chemicals were worth $2,529,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cape Investment Advisory Inc. raised its position in Air Products and Chemicals by 1.0% during the first quarter. Cape Investment Advisory Inc. now owns 3,740 shares of the basic materials company’s stock worth $906,000 after acquiring an additional 37 shares in the last quarter. First Citizens Bank & Trust Co. raised its position in shares of Air Products and Chemicals by 0.4% in the second quarter. First Citizens Bank & Trust Co. now owns 10,906 shares of the basic materials company’s stock valued at $2,814,000 after purchasing an additional 39 shares during the period. Verdence Capital Advisors LLC raised its position in shares of Air Products and Chemicals by 2.3% in the second quarter. Verdence Capital Advisors LLC now owns 1,763 shares of the basic materials company’s stock valued at $455,000 after purchasing an additional 39 shares during the period. Stokes Family Office LLC raised its position in shares of Air Products and Chemicals by 3.4% in the second quarter. Stokes Family Office LLC now owns 1,213 shares of the basic materials company’s stock valued at $313,000 after purchasing an additional 40 shares during the period. Finally, Invesco LLC raised its position in shares of Air Products and Chemicals by 2.6% in the second quarter. Invesco LLC now owns 1,581 shares of the basic materials company’s stock valued at $408,000 after purchasing an additional 40 shares during the period. 81.66% of the stock is owned by institutional investors.

Air Products and Chemicals Trading Up 0.8 %

Shares of Air Products and Chemicals stock opened at $291.13 on Wednesday. The company has a market capitalization of $64.72 billion, a price-to-earnings ratio of 26.28, a PEG ratio of 3.70 and a beta of 0.81. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.77. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $301.90. The firm’s 50-day moving average price is $272.46 and its two-hundred day moving average price is $258.79.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.16. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.04 billion. On average, analysts forecast that Air Products and Chemicals, Inc. will post 12.32 earnings per share for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, October 1st will be paid a $1.77 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.43%. Air Products and Chemicals’s payout ratio is currently 63.90%.

Analyst Ratings Changes

APD has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Air Products and Chemicals from $300.00 to $340.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. 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 report on Friday, July 12th. The Goldman Sachs Group raised their price target 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 lowered shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and lowered their price target for the stock from $310.00 to $280.00 in a research report on Monday, July 22nd. Finally, UBS Group raised their price target on shares of Air Products and Chemicals from $276.00 to $281.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $297.40.

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.