Commerce Bank Decreases Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Key Points

• Commerce Bank has reduced its holdings in Air Products and Chemicals, Inc. by 12.8%, owning 36,899 shares after selling 5,439 in the latest quarter, valued at approximately $10.88 million.
• Major institutional investors like Bank of America and Principal Financial Group significantly increased their stakes, with Bank of America growing its position by 129.4% during the same period.
• Analysts have a consensus rating of "Moderate Buy" for Air Products, with target prices ranging from $282 to $355, indicating varying levels of optimism about the stock's potential performance.

Commerce Bank reduced its position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 12.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 36,899 shares of the basic materials company's stock after selling 5,439 shares during the quarter. Commerce Bank's holdings in Air Products and Chemicals were worth $10,882,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in APD. Wayfinding Financial LLC bought a new position in shares of Air Products and Chemicals in the first quarter worth about $25,000. Citizens National Bank Trust Department grew its holdings in shares of Air Products and Chemicals by 833.3% in the first quarter. Citizens National Bank Trust Department now owns 112 shares of the basic materials company's stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. Sunbelt Securities Inc. raised its stake in Air Products and Chemicals by 525.9% during the fourth quarter. Sunbelt Securities Inc. now owns 169 shares of the basic materials company's stock valued at $49,000 after purchasing an additional 142 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Air Products and Chemicals during the fourth quarter valued at $50,000. Finally, Peoples Bank KS bought a new stake in shares of Air Products and Chemicals in the 1st quarter worth about $59,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on APD shares. Citigroup lifted their price target on Air Products and Chemicals from $310.00 to $320.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. UBS Group increased their price target on Air Products and Chemicals from $328.00 to $344.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Morgan Stanley assumed coverage on shares of Air Products and Chemicals in a research report on Thursday, May 29th. They set an "equal weight" rating and a $290.00 price objective on the stock. Barclays dropped their price target on shares of Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Finally, Mizuho raised their price objective on shares of Air Products and Chemicals from $310.00 to $325.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $334.75.

Air Products and Chemicals Price Performance

Shares of NYSE:APD traded up $5.25 during trading on Monday, reaching $287.00. 855,450 shares of the company's stock traded hands, compared to its average volume of 987,648. The firm has a market cap of $63.87 billion, a PE ratio of 41.30, a P/E/G ratio of 5.41 and a beta of 0.81. Air Products and Chemicals, Inc. has a fifty-two week low of $243.69 and a fifty-two week high of $341.14. The company has a quick ratio of 1.12, a current ratio of 1.29 and a debt-to-equity ratio of 0.93. The company has a 50-day simple moving average of $285.05 and a 200-day simple moving average of $290.21.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $3.09 EPS for the quarter, topping the consensus estimate of $2.99 by $0.10. Air Products and Chemicals had a net margin of 12.86% and a return on equity of 15.11%. The company had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the previous year, the firm earned $3.20 EPS. The firm's revenue was up 1.2% compared to the same quarter last year. As a group, analysts predict that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Wednesday, October 1st will be given a dividend of $1.79 per share. The ex-dividend date is Wednesday, October 1st. This represents a $7.16 dividend on an annualized basis and a yield of 2.5%. Air Products and Chemicals's dividend payout ratio (DPR) is presently 103.02%.

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.