7,710 Shares in Air Products and Chemicals, Inc. (NYSE:APD) Bought by L & S Advisors Inc

L & S Advisors Inc bought a new stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,710 shares of the basic materials company’s stock, valued at approximately $1,990,000.

A number of other large investors have also bought and sold shares of the company. Sachetta LLC bought a new stake in shares of Air Products and Chemicals in the fourth quarter valued at approximately $27,000. Security National Bank bought a new stake in shares of Air Products and Chemicals during the 4th quarter worth $27,000. Transcendent Capital Group LLC purchased a new position in shares of Air Products and Chemicals in the 4th quarter worth about $28,000. Thompson Investment Management Inc. purchased a new position in shares of Air Products and Chemicals during the first quarter worth approximately $27,000. Finally, Meeder Asset Management Inc. purchased a new position in Air Products and Chemicals in the 2nd quarter worth $32,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on APD. Wells Fargo & Company increased their price objective on Air Products and Chemicals from $240.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. StockNews.com cut shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. Bank of America boosted their price objective on shares of Air Products and Chemicals from $275.00 to $312.00 and gave the company a “buy” rating in a research report on Monday, June 10th. The Goldman Sachs Group increased their target price on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, UBS Group boosted their price target on Air Products and Chemicals from $276.00 to $281.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $297.40.

Air Products and Chemicals Price Performance

Shares of NYSE APD opened at $288.87 on Tuesday. The company has a 50 day simple moving average of $271.74 and a two-hundred day simple moving average of $258.40. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $301.90. The company has a market capitalization of $64.22 billion, a price-to-earnings ratio of 26.07, a P/E/G ratio of 3.70 and a beta of 0.82. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.27.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.16. The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.04 billion. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. Analysts expect that Air Products and Chemicals, Inc. will post 12.32 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, October 1st will be paid 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 2.45%. Air Products and Chemicals’s dividend payout ratio is presently 63.90%.

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.