Stock Yards Bank & Trust Co. Has $2.53 Million Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

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

Several other hedge funds have also added to or reduced their stakes in the business. Conscious Wealth Investments LLC boosted its position in Air Products and Chemicals by 0.5% during the 2nd quarter. Conscious Wealth Investments LLC now owns 10,671 shares of the basic materials company’s stock worth $2,731,000 after buying an additional 50 shares during the period. Dimensional Fund Advisors LP boosted its position in Air Products and Chemicals by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,181,985 shares of the basic materials company’s stock worth $305,094,000 after buying an additional 84,176 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Air Products and Chemicals by 127.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,792,470 shares of the basic materials company’s stock worth $720,597,000 after buying an additional 1,564,169 shares during the period. Angeles Investment Advisors LLC boosted its position in Air Products and Chemicals by 3.8% during the 2nd quarter. Angeles Investment Advisors LLC now owns 2,299 shares of the basic materials company’s stock worth $593,000 after buying an additional 84 shares during the period. Finally, Pine Harbor Wealth Management LLC raised its holdings in Air Products and Chemicals by 9.4% during the 2nd quarter. Pine Harbor Wealth Management LLC now owns 1,238 shares of the basic materials company’s stock worth $319,000 after purchasing an additional 106 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Air Products and Chemicals Stock Performance

NYSE APD opened at $291.13 on Wednesday. The company has a fifty day simple moving average of $272.46 and a 200 day simple moving average of $258.79. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $301.90. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.77. The company has a market cap of $64.72 billion, a P/E ratio of 26.28, a PEG ratio of 3.70 and a beta of 0.81.

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 (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.04 billion. Sell-side analysts predict 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, October 1st will be given a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend is Tuesday, October 1st. Air Products and Chemicals’s payout ratio is currently 63.90%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Citigroup raised their price target on shares of Air Products and Chemicals from $280.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, July 12th. BMO Capital Markets raised their price target on shares of Air Products and Chemicals from $300.00 to $323.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Morgan Stanley raised their price target on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 5th. Wells Fargo & Company raised their price target on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. 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 report on Tuesday, August 20th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $297.40.

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.