Spinnaker Trust Holds Stake in Air Products and Chemicals, Inc. (APD)

Spinnaker Trust held its position in Air Products and Chemicals, Inc. (NYSE:APD) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,070 shares of the basic materials company’s stock at the end of the second quarter. Spinnaker Trust’s holdings in Air Products and Chemicals were worth $439,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. iAB Financial Bank purchased a new stake in Air Products and Chemicals during the first quarter valued at about $100,000. Patten Group Inc. increased its stake in Air Products and Chemicals by 3.7% in the first quarter. Patten Group Inc. now owns 778 shares of the basic materials company’s stock valued at $105,000 after buying an additional 28 shares during the period. State of Alaska Department of Revenue purchased a new stake in Air Products and Chemicals during the first quarter valued at about $109,000. Guardian Life Insurance Co. of America increased its stake in Air Products and Chemicals by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 838 shares of the basic materials company’s stock valued at $113,000 after buying an additional 6 shares during the period. Finally, Webster Bank N. A. increased its stake in Air Products and Chemicals by 68.2% in the first quarter. Webster Bank N. A. now owns 851 shares of the basic materials company’s stock valued at $115,000 after buying an additional 345 shares during the period. 88.92% of the stock is currently owned by institutional investors and hedge funds.

Shares of Air Products and Chemicals, Inc. (NYSE:APD) opened at 145.02 on Friday. The stock’s 50 day moving average price is $144.80 and its 200-day moving average price is $141.91. The company has a market capitalization of $31.61 billion, a P/E ratio of 10.89 and a beta of 1.25. Air Products and Chemicals, Inc. has a 52-week low of $129.00 and a 52-week high of $150.45.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $1.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.06. The company had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Air Products and Chemicals had a return on equity of 17.23% and a net margin of 34.63%. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.92 earnings per share. On average, equities analysts expect that Air Products and Chemicals, Inc. will post $6.23 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Stockholders of record on Tuesday, October 10th will be given a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Friday, October 6th. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 28.51%.

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Several research firms recently issued reports on APD. Deutsche Bank AG boosted their price target on Air Products and Chemicals from $160.00 to $168.00 and gave the company a “hold” rating in a research note on Wednesday, August 2nd. Jefferies Group LLC restated a “hold” rating and issued a $155.00 price target on shares of Air Products and Chemicals in a research note on Friday, July 14th. Zacks Investment Research downgraded Air Products and Chemicals from a “buy” rating to a “hold” rating in a research note on Monday, May 1st. Vertical Research upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating and set a $146.00 price target for the company in a research note on Monday. Finally, BidaskClub downgraded Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. Air Products and Chemicals presently has a consensus rating of “Hold” and an average target price of $153.29.

Air Products and Chemicals Company Profile

Air Products and Chemicals, Inc, is an industrial gases company. The Company’s Industrial Gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. The Company is also a supplier of liquefied natural gas process technology and equipment.

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Institutional Ownership by Quarter for Air Products and Chemicals (NYSE:APD)

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