Air Products and Chemicals, Inc. (NYSE:APD) Position Boosted by Linscomb Wealth Inc.

Key Points

• Linscomb Wealth Inc. increased its holdings in Air Products and Chemicals, Inc. by 1,105 shares, raising its total shares to 19,613, valued at approximately $5.78 million.
• The company announced a quarterly dividend of $1.79 per share, with an annualized yield of 2.5%, to be paid on November 10th.
• Air Products and Chemicals reported a Q2 earnings per share of $3.09, exceeding estimates, with revenues of $3.02 billion, showing growth compared to the previous year.

Linscomb Wealth Inc. increased its position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 6.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,613 shares of the basic materials company's stock after purchasing an additional 1,105 shares during the quarter. Linscomb Wealth Inc.'s holdings in Air Products and Chemicals were worth $5,784,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC raised its holdings in Air Products and Chemicals by 14.5% in the fourth quarter. Brighton Jones LLC now owns 3,260 shares of the basic materials company's stock valued at $945,000 after acquiring an additional 412 shares in the last quarter. Wellington Management Group LLP raised its holdings in Air Products and Chemicals by 36.6% in the fourth quarter. Wellington Management Group LLP now owns 8,775 shares of the basic materials company's stock valued at $2,545,000 after acquiring an additional 2,352 shares in the last quarter. FIL Ltd acquired a new stake in Air Products and Chemicals in the fourth quarter valued at $7,371,000. CenterBook Partners LP acquired a new stake in Air Products and Chemicals in the fourth quarter valued at $296,000. Finally, Sagespring Wealth Partners LLC acquired a new stake in Air Products and Chemicals in the fourth quarter valued at $2,026,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Morgan Stanley assumed coverage on shares of Air Products and Chemicals in a report on Thursday, May 29th. They set an "equal weight" rating and a $290.00 target price on the stock. Wall Street Zen raised shares of Air Products and Chemicals from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Citigroup increased their target price on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the stock a "buy" rating in a report on Monday, June 30th. UBS Group increased their target price on shares of Air Products and Chemicals from $328.00 to $344.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Finally, Mizuho increased their target price on shares of Air Products and Chemicals from $310.00 to $325.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $335.07.

Air Products and Chemicals Stock Performance

Shares of APD stock traded down $1.56 during trading hours on Friday, reaching $290.61. The stock had a trading volume of 314,103 shares, compared to its average volume of 1,313,623. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.29 and a quick ratio of 1.12. Air Products and Chemicals, Inc. has a twelve month low of $243.69 and a twelve month high of $341.14. The firm has a 50-day simple moving average of $287.41 and a 200-day simple moving average of $288.65. The firm has a market capitalization of $64.68 billion, a PE ratio of 41.84, a price-to-earnings-growth ratio of 6.57 and a beta of 0.81.

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

Air Products and Chemicals Dividend Announcement

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

Insider Transactions at Air Products and Chemicals

In related news, VP Victoria Brifo sold 1,359 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $292.38, for a total value of $397,344.42. Following the completion of the transaction, the vice president owned 8,686 shares in the company, valued at $2,539,612.68. This represents a 13.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.41% of the stock is owned by corporate insiders.

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.