SIR Capital Management L.P. grew its holdings in Air Products and Chemicals, Inc. (NYSE:APD – Free Report) by 260.0% during the second quarter, HoldingsChannel.com reports. The fund owned 40,500 shares of the basic materials company’s stock after purchasing an additional 29,251 shares during the quarter. SIR Capital Management L.P.’s holdings in Air Products and Chemicals were worth $10,451,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in APD. Sachetta LLC acquired a new stake in Air Products and Chemicals during the 4th quarter valued at $27,000. Security National Bank bought a new position in shares of Air Products and Chemicals in the 4th quarter worth about $27,000. Transcendent Capital Group LLC bought a new position in shares of Air Products and Chemicals in the 4th quarter worth about $28,000. Thompson Investment Management Inc. bought a new position in shares of Air Products and Chemicals in the 1st quarter worth about $27,000. Finally, Clear Investment Research LLC lifted its position in Air Products and Chemicals by 700.0% in the 4th quarter. Clear Investment Research LLC now owns 128 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 112 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have commented on APD. The Goldman Sachs Group boosted 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. Morgan Stanley lifted their target price on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 5th. BMO Capital Markets boosted their price objective on shares of 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. JPMorgan Chase & Co. boosted 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. Finally, Wells Fargo & Company lifted their target price on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Air Products and Chemicals currently has an average rating of “Hold” and a consensus price target of $297.40.
Air Products and Chemicals Price Performance
Shares of APD opened at $273.82 on Tuesday. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $307.71. The business’s fifty day moving average is $268.91 and its 200 day moving average is $256.67. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.77. The stock has a market cap of $60.87 billion, a P/E ratio of 24.71, a P/E/G ratio of 3.58 and a beta of 0.81.
Air Products and Chemicals (NYSE:APD – Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The basic materials company reported $3.20 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.16. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.04 billion. Sell-side analysts anticipate 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, October 1st will be issued a dividend of $1.77 per share. The ex-dividend date is Tuesday, October 1st. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.59%. Air Products and Chemicals’s dividend payout ratio is 63.90%.
About Air Products and Chemicals
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.
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