Morton Community Bank Has $2.42 Million Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Morton Community Bank lifted its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 84.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,395 shares of the basic materials company’s stock after purchasing an additional 4,310 shares during the period. Morton Community Bank’s holdings in Air Products and Chemicals were worth $2,424,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Capital Research Global Investors increased its position in Air Products and Chemicals by 62.3% in the first quarter. Capital Research Global Investors now owns 11,230,051 shares of the basic materials company’s stock worth $2,720,704,000 after purchasing an additional 4,309,040 shares during the period. Norges Bank bought a new stake in shares of Air Products and Chemicals during the fourth quarter worth approximately $852,288,000. Bank of New York Mellon Corp lifted its holdings in Air Products and Chemicals by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 2,034,818 shares of the basic materials company’s stock valued at $525,085,000 after buying an additional 5,140 shares during the period. National Bank of Canada FI boosted its stake in Air Products and Chemicals by 2,931.0% in the second quarter. National Bank of Canada FI now owns 1,796,531 shares of the basic materials company’s stock valued at $444,352,000 after acquiring an additional 1,737,260 shares during the last quarter. Finally, Clearbridge Investments LLC grew its holdings in Air Products and Chemicals by 50.6% during the 1st quarter. Clearbridge Investments LLC now owns 1,547,202 shares of the basic materials company’s stock worth $374,841,000 after acquiring an additional 520,179 shares during the period. 81.66% of the stock is owned by institutional investors.

Air Products and Chemicals Stock Down 1.8 %

Air Products and Chemicals stock traded down $4.84 during midday trading on Friday, reaching $268.71. The stock had a trading volume of 1,066,164 shares, compared to its average volume of 1,647,773. The stock has a market capitalization of $59.74 billion, a P/E ratio of 24.25, a price-to-earnings-growth ratio of 3.72 and a beta of 0.82. The firm’s fifty day simple moving average is $268.38 and its 200-day simple moving average is $256.18. 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, Inc. has a 1-year low of $212.24 and a 1-year high of $307.71.

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

Air Products and Chemicals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, October 1st will be paid a dividend of $1.77 per share. The ex-dividend date is Tuesday, October 1st. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.63%. Air Products and Chemicals’s dividend payout ratio is 63.90%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Morgan Stanley raised their price target on Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 5th. UBS Group raised their target price on Air Products and Chemicals from $276.00 to $281.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Barclays upped their price target on Air Products and Chemicals from $290.00 to $295.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Wells Fargo & Company boosted their price objective on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Bank of America increased their target price on shares of Air Products and Chemicals from $275.00 to $312.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Two research 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 data from MarketBeat.com, Air Products and Chemicals has a consensus rating of “Hold” and an average price target of $297.40.

Air Products and Chemicals 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.