Allspring Global Investments Holdings LLC Acquires 69 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Allspring Global Investments Holdings LLC grew its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 0.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,720 shares of the basic materials company’s stock after buying an additional 69 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Air Products and Chemicals were worth $2,766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Cape Investment Advisory Inc. increased its holdings in Air Products and Chemicals by 1.0% in the 1st quarter. Cape Investment Advisory Inc. now owns 3,740 shares of the basic materials company’s stock valued at $906,000 after acquiring an additional 37 shares during the last quarter. First Citizens Bank & Trust Co. increased its holdings in shares of Air Products and Chemicals by 0.4% in the second quarter. First Citizens Bank & Trust Co. now owns 10,906 shares of the basic materials company’s stock worth $2,814,000 after purchasing an additional 39 shares during the last quarter. Verdence Capital Advisors LLC lifted its position in shares of Air Products and Chemicals by 2.3% in the second quarter. Verdence Capital Advisors LLC now owns 1,763 shares of the basic materials company’s stock worth $455,000 after buying an additional 39 shares in the last quarter. Stokes Family Office LLC lifted its position in shares of Air Products and Chemicals by 3.4% in the second quarter. Stokes Family Office LLC now owns 1,213 shares of the basic materials company’s stock worth $313,000 after buying an additional 40 shares in the last quarter. Finally, Legacy Capital Group California Inc. grew its holdings in Air Products and Chemicals by 1.0% during the 2nd quarter. Legacy Capital Group California Inc. now owns 3,984 shares of the basic materials company’s stock valued at $1,028,000 after buying an additional 41 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Price Performance

Air Products and Chemicals stock opened at $278.85 on Tuesday. The stock has a market cap of $61.99 billion, a price-to-earnings ratio of 25.17, a price-to-earnings-growth ratio of 3.72 and a beta of 0.81. The firm has a 50-day moving average of $267.57 and a two-hundred day moving average of $255.09. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $307.71. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.10.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data on Thursday, August 1st. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.16. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. On average, research analysts forecast that Air Products and Chemicals, Inc. will post 12.32 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, October 1st will be issued a $1.77 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $7.08 annualized dividend and a dividend yield of 2.54%. Air Products and Chemicals’s payout ratio is currently 63.90%.

Analyst Ratings Changes

Several analysts have recently issued reports on APD shares. Citigroup upped their price objective on Air Products and Chemicals from $280.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, July 12th. JPMorgan Chase & Co. lifted their price target on Air Products and Chemicals from $300.00 to $340.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Barclays upped their price objective on Air Products and Chemicals from $290.00 to $295.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Bank of America lifted their target price on Air Products and Chemicals from $275.00 to $312.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Finally, Deutsche Bank Aktiengesellschaft lowered Air Products and Chemicals from a “buy” rating to a “hold” rating and decreased their price target for the company from $310.00 to $280.00 in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price 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.