SouthState Corp Has $438,000 Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

SouthState Corp raised its position in Air Products and Chemicals, Inc. (NYSE:APDGet Rating) by 58.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,752 shares of the basic materials company’s stock after acquiring an additional 644 shares during the period. SouthState Corp’s holdings in Air Products and Chemicals were worth $438,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Air Products and Chemicals by 0.4% in the 4th quarter. State Street Corp now owns 10,840,521 shares of the basic materials company’s stock worth $3,314,420,000 after buying an additional 44,161 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Air Products and Chemicals by 6.5% in the 4th quarter. JPMorgan Chase & Co. now owns 6,305,512 shares of the basic materials company’s stock worth $1,918,516,000 after buying an additional 386,592 shares in the last quarter. Geode Capital Management LLC grew its position in Air Products and Chemicals by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 3,695,491 shares of the basic materials company’s stock worth $1,121,472,000 after acquiring an additional 68,321 shares during the last quarter. Capital World Investors grew its position in Air Products and Chemicals by 49.4% during the 4th quarter. Capital World Investors now owns 2,633,053 shares of the basic materials company’s stock worth $801,133,000 after acquiring an additional 870,582 shares during the last quarter. Finally, American Century Companies Inc. grew its position in Air Products and Chemicals by 17.8% during the 4th quarter. American Century Companies Inc. now owns 2,126,489 shares of the basic materials company’s stock worth $647,006,000 after acquiring an additional 321,202 shares during the last quarter. Institutional investors and hedge funds own 80.62% of the company’s stock.

Air Products and Chemicals Stock Performance

APD opened at $257.73 on Friday. The company has a market capitalization of $57.16 billion, a price-to-earnings ratio of 25.67, a P/E/G ratio of 1.87 and a beta of 0.81. The business’s 50-day moving average price is $241.33 and its two-hundred day moving average price is $244.19. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.95 and a quick ratio of 1.79. Air Products and Chemicals, Inc. has a 1 year low of $216.24 and a 1 year high of $316.39.

Air Products and Chemicals (NYSE:APDGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The basic materials company reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.61 by $0.01. The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Air Products and Chemicals had a return on equity of 15.32% and a net margin of 19.63%. Air Products and Chemicals’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.31 EPS. Equities analysts expect that Air Products and Chemicals, Inc. will post 10.25 EPS for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Stockholders of record on Monday, October 3rd will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 2.51%. The ex-dividend date is Friday, September 30th. Air Products and Chemicals’s payout ratio is 64.54%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on APD. Wells Fargo & Company decreased their price objective on Air Products and Chemicals from $255.00 to $243.00 and set an “equal weight” rating on the stock in a research report on Monday, July 18th. Cowen cut their price target on Air Products and Chemicals from $345.00 to $305.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 19th. UBS Group cut their price target on Air Products and Chemicals from $321.00 to $295.00 in a research note on Wednesday, July 13th. Bank of America cut their price target on Air Products and Chemicals from $272.00 to $271.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 13th. Finally, Credit Suisse Group cut their price target on Air Products and Chemicals from $302.00 to $290.00 and set an “outperform” rating on the stock in a research note on Friday, May 20th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Air Products and Chemicals has an average rating of “Moderate Buy” and an average target price of $287.33.

About Air Products and Chemicals

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Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas; specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, manufacturing, food and beverage, electronics, magnetic resonance imaging, energy production and refining, and metals.

Further Reading

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Institutional Ownership by Quarter for Air Products and Chemicals (NYSE:APD)

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