Armstrong Henry H Associates Inc. Buys 101 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Armstrong Henry H Associates Inc. raised its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 0.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,092 shares of the basic materials company’s stock after buying an additional 101 shares during the period. Air Products and Chemicals accounts for 1.4% of Armstrong Henry H Associates Inc.’s holdings, making the stock its 8th largest holding. Armstrong Henry H Associates Inc.’s holdings in Air Products and Chemicals were worth $13,958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in APD. Turtle Creek Wealth Advisors LLC bought a new position in shares of Air Products and Chemicals during the fourth quarter valued at $27,000. Roble Belko & Company Inc bought a new position in shares of Air Products and Chemicals during the fourth quarter valued at $27,000. Sachetta LLC bought a new position in shares of Air Products and Chemicals during the fourth quarter valued at $27,000. Security National Bank bought a new position in shares of Air Products and Chemicals during the fourth quarter valued at $27,000. Finally, Thompson Investment Management Inc. bought a new position in shares of Air Products and Chemicals during the first quarter valued at $27,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on APD. Citigroup raised their price target on shares of Air Products and Chemicals from $280.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Morgan Stanley raised their price target on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 5th. BMO Capital Markets lifted their target price on shares of Air Products and Chemicals from $294.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, July 11th. UBS Group lifted their target price on shares of Air Products and Chemicals from $257.00 to $268.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 9th. Finally, Bank of America lifted their target price on shares of Air Products and Chemicals from $275.00 to $312.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $292.14.

Air Products and Chemicals Stock Down 2.0 %

APD traded down $5.73 during midday trading on Friday, hitting $281.74. The company had a trading volume of 1,832,140 shares, compared to its average volume of 1,710,808. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $307.71. The company has a quick ratio of 1.31, a current ratio of 1.27 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $62.63 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 3.17 and a beta of 0.81. The stock’s 50 day moving average price is $265.80 and its 200 day moving average price is $250.13.

Air Products and Chemicals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, October 1st will be paid a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.51%. 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.