UMB Bank n.a. Lowers Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

UMB Bank n.a. reduced its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 0.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,161 shares of the basic materials company’s stock after selling 57 shares during the period. UMB Bank n.a.’s holdings in Air Products and Chemicals were worth $4,514,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on APD. The Goldman Sachs Group lifted their price target on Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, August 5th. StockNews.com upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft cut Air Products and Chemicals from a “buy” rating to a “hold” rating and reduced their price target for the company from $310.00 to $280.00 in a research report on Monday, July 22nd. JPMorgan Chase & Co. lifted their price target on 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. Finally, BMO Capital Markets lifted their price target on Air Products and Chemicals from $300.00 to $323.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $313.53.

Air Products and Chemicals Stock Performance

Shares of NYSE:APD opened at $314.67 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.10. The business’s 50 day moving average price is $283.53 and its 200-day moving average price is $264.65. The firm has a market capitalization of $69.95 billion, a PE ratio of 28.40, a P/E/G ratio of 3.89 and a beta of 0.82. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $323.86.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings data on Thursday, August 1st. The basic materials company reported $3.20 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 16.53% and a net margin of 21.24%. As a group, equities research analysts expect that Air Products and Chemicals, Inc. will post 12.33 earnings per share for the current fiscal year.

Air Products and Chemicals Announces Dividend

The business also recently disclosed 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 2.25%. The ex-dividend date of this dividend is Tuesday, October 1st. Air Products and Chemicals’s dividend payout ratio (DPR) 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.