Park Avenue Securities LLC Has $2.18 Million Position in Air Products and Chemicals, Inc. (NYSE:APD)

Park Avenue Securities LLC increased its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 95.9% in the 2nd quarter, Holdings Channel reports. The firm owned 8,460 shares of the basic materials company’s stock after purchasing an additional 4,142 shares during the period. Park Avenue Securities LLC’s holdings in Air Products and Chemicals were worth $2,183,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Capital Research Global Investors lifted its holdings in shares of Air Products and Chemicals by 62.3% during 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 buying an additional 4,309,040 shares during the last quarter. Norges Bank acquired a new position in shares of Air Products and Chemicals in the fourth quarter valued at $852,288,000. Raymond James & Associates raised its stake in shares of Air Products and Chemicals by 8.7% in the first quarter. Raymond James & Associates now owns 2,099,419 shares of the basic materials company’s stock valued at $508,626,000 after purchasing an additional 167,800 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Air Products and Chemicals by 3.3% in the first quarter. Bank of New York Mellon Corp now owns 2,029,678 shares of the basic materials company’s stock valued at $491,730,000 after purchasing an additional 64,427 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of Air Products and Chemicals by 50.6% in the first quarter. Clearbridge Investments LLC now owns 1,547,202 shares of the basic materials company’s stock valued at $374,841,000 after purchasing an additional 520,179 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on APD. JPMorgan Chase & Co. upped their target price on Air Products and Chemicals from $300.00 to $340.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Mizuho lowered their price target on Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Bank of America upped their price target on 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. Citigroup upped their price target on Air Products and Chemicals from $280.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Finally, TD Cowen upped their price target on Air Products and Chemicals from $305.00 to $320.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $296.53.

Air Products and Chemicals Price Performance

NYSE APD traded down $1.14 during midday trading on Wednesday, hitting $277.42. The company had a trading volume of 1,167,883 shares, compared to its average volume of 1,754,609. The company has a market capitalization of $61.67 billion, a PE ratio of 25.14, a P/E/G ratio of 3.17 and a beta of 0.81. The company has a current ratio of 1.27, a quick ratio of 1.31 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average price of $266.36 and a 200-day moving average price of $250.32. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $307.71.

Air Products and Chemicals Dividend Announcement

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 given 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 yield of 2.55%. Air Products and Chemicals’s dividend payout ratio is currently 63.90%.

Air Products and Chemicals Company 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.