Hsbc Holdings PLC Acquires 320,651 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Hsbc Holdings PLC grew its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 69.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 784,760 shares of the basic materials company’s stock after buying an additional 320,651 shares during the quarter. Hsbc Holdings PLC owned approximately 0.35% of Air Products and Chemicals worth $203,513,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of APD. Sachetta LLC acquired a new stake in Air Products and Chemicals in the fourth quarter valued at $27,000. Security National Bank bought a new stake in shares of Air Products and Chemicals in the 4th quarter valued at about $27,000. Thompson Investment Management Inc. acquired a new stake in Air Products and Chemicals in the 1st quarter valued at about $27,000. Transcendent Capital Group LLC bought a new position in Air Products and Chemicals during the fourth quarter worth about $28,000. Finally, Meeder Asset Management Inc. acquired a new position in Air Products and Chemicals during the second quarter worth approximately $32,000. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Trading Up 0.8 %

APD opened at $291.13 on Wednesday. The company’s 50 day moving average price is $272.46 and its two-hundred day moving average price is $258.79. The firm 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. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $301.90. 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 (NYSE:APD) last announced its earnings results on Thursday, August 1st. The basic materials company reported $3.20 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.04 billion. As a group, research analysts predict that Air Products and Chemicals, Inc. will post 12.32 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

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 $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Tuesday, October 1st. Air Products and Chemicals’s dividend payout ratio is currently 63.90%.

Analysts Set New Price Targets

APD has been the subject of a number of recent analyst reports. Barclays raised their price objective on Air Products and Chemicals from $290.00 to $295.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. The Goldman Sachs Group increased their price objective on shares of 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. Bank of America upped their price target on shares of Air Products and Chemicals from $275.00 to $312.00 and gave the company a “buy” rating in a research note on Monday, June 10th. StockNews.com downgraded shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. Finally, BMO Capital Markets upped their target price 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. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average 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.