Clearbridge Investments LLC raised its position in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 0.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 422,409 shares of the basic materials company’s stock after buying an additional 2,496 shares during the quarter. Clearbridge Investments LLC owned about 0.19% of Air Products & Chemicals worth $69,309,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in APD. Tortoise Investment Management LLC raised its stake in Air Products & Chemicals by 3,369.6% during the third quarter. Tortoise Investment Management LLC now owns 798 shares of the basic materials company’s stock valued at $121,000 after buying an additional 775 shares in the last quarter. Cerebellum GP LLC acquired a new stake in Air Products & Chemicals during the fourth quarter valued at approximately $129,000. Prentiss Smith & Co. Inc. acquired a new stake in Air Products & Chemicals during the fourth quarter valued at approximately $139,000. San Francisco Sentry Investment Group CA raised its stake in Air Products & Chemicals by 6,110.0% during the third quarter. San Francisco Sentry Investment Group CA now owns 1,242 shares of the basic materials company’s stock valued at $188,000 after buying an additional 1,222 shares in the last quarter. Finally, Independence Bank of Kentucky acquired a new stake in Air Products & Chemicals during the fourth quarter valued at approximately $195,000. Hedge funds and other institutional investors own 87.80% of the company’s stock.
Several brokerages have issued reports on APD. Zacks Investment Research upgraded Air Products & Chemicals from a “hold” rating to a “buy” rating and set a $192.00 price objective on the stock in a research note on Monday. JPMorgan Chase & Co. upgraded Air Products & Chemicals from a “neutral” rating to an “overweight” rating in a research note on Friday, February 9th. Citigroup upped their price objective on Air Products & Chemicals from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. KeyCorp increased their price target on Air Products & Chemicals from $175.00 to $184.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 30th. Finally, Seaport Global Securities reiterated a “buy” rating and set a $185.00 price target on shares of Air Products & Chemicals in a research report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and sixteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $179.19.
Air Products & Chemicals (NYSE:APD) last issued its quarterly earnings data on Friday, January 26th. The basic materials company reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.13. Air Products & Chemicals had a return on equity of 14.80% and a net margin of 33.51%. The business had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.12 billion. During the same period in the prior year, the company posted $1.47 EPS. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. research analysts predict that Air Products & Chemicals, Inc. will post 7.32 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 14th. Investors of record on Monday, April 2nd will be issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 2.57%. This is a positive change from Air Products & Chemicals’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend is Thursday, March 29th. Air Products & Chemicals’s dividend payout ratio is 29.25%.
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Air Products & 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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