Zacks Investment Management boosted its holdings in Air Products & Chemicals, Inc. (NYSE:APD) by 0.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 252,114 shares of the basic materials company’s stock after buying an additional 1,791 shares during the quarter. Zacks Investment Management owned approximately 0.11% of Air Products & Chemicals worth $39,262,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of APD. FMR LLC raised its holdings in Air Products & Chemicals by 52.8% in the 2nd quarter. FMR LLC now owns 4,457,144 shares of the basic materials company’s stock valued at $694,111,000 after buying an additional 1,540,875 shares during the last quarter. Ceredex Value Advisors LLC bought a new position in Air Products & Chemicals in the 1st quarter valued at approximately $108,911,000. BlackRock Inc. raised its holdings in Air Products & Chemicals by 3.1% in the 1st quarter. BlackRock Inc. now owns 18,097,057 shares of the basic materials company’s stock valued at $2,877,973,000 after buying an additional 552,393 shares during the last quarter. Rothschild Asset Management Inc. bought a new position in Air Products & Chemicals in the 1st quarter valued at approximately $56,392,000. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Air Products & Chemicals by 326.6% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 457,066 shares of the basic materials company’s stock valued at $71,221,000 after buying an additional 349,926 shares during the last quarter. Institutional investors and hedge funds own 86.08% of the company’s stock.
A number of research analysts recently issued reports on APD shares. Credit Suisse Group raised their price objective on shares of Air Products & Chemicals from $182.00 to $188.00 and gave the company a “buy” rating in a report on Friday, July 27th. Zacks Investment Research upgraded shares of Air Products & Chemicals from a “sell” rating to a “hold” rating and set a $181.00 price objective for the company in a report on Monday, July 30th. Vertical Research upgraded shares of Air Products & Chemicals from a “hold” rating to a “buy” rating in a report on Wednesday, August 29th. ValuEngine lowered shares of Air Products & Chemicals from a “buy” rating to a “hold” rating in a report on Tuesday, June 5th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Air Products & Chemicals from $172.00 to $170.00 and set an “overweight” rating for the company in a report on Friday, July 27th. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $183.47.
NYSE:APD traded down $0.42 on Tuesday, reaching $165.64. 2,057 shares of the stock traded hands, compared to its average volume of 904,853. The company has a market capitalization of $36.15 billion, a PE ratio of 26.23, a P/E/G ratio of 1.37 and a beta of 1.06. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.24 and a current ratio of 2.40. Air Products & Chemicals, Inc. has a 1-year low of $145.37 and a 1-year high of $175.17.
Air Products & Chemicals (NYSE:APD) last released its earnings results on Thursday, July 26th. The basic materials company reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.11. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.31 billion. Air Products & Chemicals had a net margin of 17.13% and a return on equity of 15.15%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.65 EPS. research analysts predict that Air Products & Chemicals, Inc. will post 7.45 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 12th. Stockholders of record on Monday, October 1st will be given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 2.66%. The ex-dividend date is Friday, September 28th. Air Products & Chemicals’s dividend payout ratio (DPR) is 69.73%.
Air Products & Chemicals Profile
Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, electronics and performance materials, 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 metals, glass, chemical processing, electronics, energy production and refining, food processing, metallurgical, medical, and general manufacturing.
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