Air Products and Chemicals, Inc. (NYSE:APD) Shares Acquired by Truist Financial Corp

Truist Financial Corp boosted its position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 9.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 118,148 shares of the basic materials company's stock after acquiring an additional 9,951 shares during the period. Truist Financial Corp owned about 0.05% of Air Products and Chemicals worth $34,844,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of APD. Brighton Jones LLC grew its stake in Air Products and Chemicals by 14.5% in the 4th quarter. Brighton Jones LLC now owns 3,260 shares of the basic materials company's stock worth $945,000 after acquiring an additional 412 shares during the period. Proficio Capital Partners LLC purchased a new stake in Air Products and Chemicals in the 4th quarter worth approximately $246,000. Ashton Thomas Private Wealth LLC grew its stake in Air Products and Chemicals by 16.6% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 2,831 shares of the basic materials company's stock worth $821,000 after acquiring an additional 404 shares during the period. Mesirow Financial Investment Management Inc. grew its stake in Air Products and Chemicals by 26.9% in the 4th quarter. Mesirow Financial Investment Management Inc. now owns 958 shares of the basic materials company's stock worth $278,000 after acquiring an additional 203 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Air Products and Chemicals by 312.5% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 198 shares of the basic materials company's stock valued at $63,000 after buying an additional 150 shares during the period. 81.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Royal Bank Of Canada assumed coverage on shares of Air Products and Chemicals in a research note on Friday, June 13th. They set an "outperform" rating and a $355.00 price objective for the company. Wells Fargo & Company lowered their price objective on shares of Air Products and Chemicals from $365.00 to $320.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Citigroup boosted their price objective on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Bank of America cut shares of Air Products and Chemicals from a "neutral" rating to an "underperform" rating and lowered their price objective for the company from $330.00 to $282.00 in a research note on Tuesday, April 15th. Finally, Morgan Stanley began coverage on shares of Air Products and Chemicals in a research note on Thursday, May 29th. They set an "equal weight" rating and a $290.00 price objective for the company. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Air Products and Chemicals currently has an average rating of "Moderate Buy" and an average target price of $332.12.

Air Products and Chemicals Stock Down 0.0%

APD stock traded down $0.04 during trading on Thursday, reaching $294.20. The stock had a trading volume of 981,640 shares, compared to its average volume of 1,365,401. Air Products and Chemicals, Inc. has a 1-year low of $243.69 and a 1-year high of $341.14. The company has a current ratio of 1.00, a quick ratio of 0.85 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $65.47 billion, a P/E ratio of 42.76, a PEG ratio of 5.61 and a beta of 0.85. The firm has a fifty day moving average price of $278.09 and a 200 day moving average price of $290.28.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The basic materials company reported $2.69 EPS for the quarter, missing analysts' consensus estimates of $2.83 by ($0.14). Air Products and Chemicals had a return on equity of 15.48% and a net margin of 12.76%. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the prior year, the firm earned $2.85 EPS. The business's quarterly revenue was down .5% compared to the same quarter last year. On average, equities analysts anticipate 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, August 11th. Stockholders of record on Tuesday, July 1st will be paid a $1.79 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.43%. Air Products and Chemicals's dividend payout ratio (DPR) is presently 104.07%.

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.