Trustcore Financial Services LLC Grows Position in Air Products & Chemicals, Inc. (APD)

Trustcore Financial Services LLC increased its position in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 3.2% in the 1st quarter, Holdings Channel reports. The firm owned 1,610 shares of the basic materials company’s stock after purchasing an additional 50 shares during the quarter. Trustcore Financial Services LLC’s holdings in Air Products & Chemicals were worth $307,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Evermay Wealth Management LLC raised its holdings in Air Products & Chemicals by 3.5% in the 1st quarter. Evermay Wealth Management LLC now owns 1,472 shares of the basic materials company’s stock valued at $281,000 after acquiring an additional 50 shares in the last quarter. Canandaigua National Bank & Trust Co. raised its holdings in Air Products & Chemicals by 2.3% in the 1st quarter. Canandaigua National Bank & Trust Co. now owns 2,394 shares of the basic materials company’s stock valued at $457,000 after acquiring an additional 53 shares in the last quarter. Bank OZK raised its holdings in Air Products & Chemicals by 3.5% in the 1st quarter. Bank OZK now owns 1,561 shares of the basic materials company’s stock valued at $298,000 after acquiring an additional 53 shares in the last quarter. Old North State Trust LLC raised its holdings in Air Products & Chemicals by 26.0% in the 1st quarter. Old North State Trust LLC now owns 276 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 57 shares in the last quarter. Finally, Wambolt & Associates LLC raised its holdings in Air Products & Chemicals by 2.0% in the 1st quarter. Wambolt & Associates LLC now owns 3,085 shares of the basic materials company’s stock valued at $593,000 after acquiring an additional 61 shares in the last quarter. 87.41% of the stock is owned by institutional investors and hedge funds.

Shares of APD traded up $3.88 during midday trading on Thursday, hitting $208.90. The company’s stock had a trading volume of 17,698 shares, compared to its average volume of 1,172,940. Air Products & Chemicals, Inc. has a one year low of $148.44 and a one year high of $209.86. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 2.36. The firm has a market cap of $45.03 billion, a price-to-earnings ratio of 28.07, a PEG ratio of 2.11 and a beta of 0.83.

Air Products & Chemicals (NYSE:APD) last issued its quarterly earnings results on Wednesday, April 24th. The basic materials company reported $1.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.88 by $0.04. Air Products & Chemicals had a return on equity of 15.28% and a net margin of 18.90%. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same quarter last year, the company posted $1.71 EPS. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, research analysts forecast that Air Products & Chemicals, Inc. will post 8.22 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 12th. Stockholders of record on Monday, July 1st will be paid a $1.16 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $4.64 annualized dividend and a dividend yield of 2.22%. Air Products & Chemicals’s payout ratio is 62.28%.

Several brokerages have weighed in on APD. BMO Capital Markets lifted their price objective on Air Products & Chemicals to $235.00 and gave the company an “outperform” rating in a report on Monday. Barclays lifted their price objective on Air Products & Chemicals from $184.00 to $220.00 and gave the company an “overweight” rating in a report on Friday, April 26th. JPMorgan Chase & Co. lifted their price objective on Air Products & Chemicals from $167.00 to $207.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Bank of America raised Air Products & Chemicals from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $170.00 to $215.00 in a report on Thursday, April 25th. Finally, Deutsche Bank lifted their price objective on Air Products & Chemicals from $182.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company’s stock. Air Products & Chemicals presently has a consensus rating of “Buy” and a consensus target price of $211.50.

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Air Products & Chemicals Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.

Further Reading: What is an SEC Filing?

Want to see what other hedge funds are holding APD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Air Products & Chemicals, Inc. (NYSE:APD).

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

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