Clarius Group LLC increased its holdings in Air Products & Chemicals, Inc. (NYSE:APD) by 2.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,882 shares of the basic materials company’s stock after acquiring an additional 40 shares during the quarter. Clarius Group LLC’s holdings in Air Products & Chemicals were worth $454,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Wealth Quarterback LLC purchased a new position in shares of Air Products & Chemicals in the fourth quarter worth approximately $915,811,000. JPMorgan Chase & Co. raised its stake in Air Products & Chemicals by 0.5% during the 1st quarter. JPMorgan Chase & Co. now owns 6,081,946 shares of the basic materials company’s stock worth $1,214,015,000 after acquiring an additional 29,037 shares during the period. Capital International Investors raised its stake in Air Products & Chemicals by 3.6% during the 1st quarter. Capital International Investors now owns 5,491,295 shares of the basic materials company’s stock worth $1,096,117,000 after acquiring an additional 188,508 shares during the period. Franklin Resources Inc. raised its stake in Air Products & Chemicals by 14.6% during the 1st quarter. Franklin Resources Inc. now owns 5,029,995 shares of the basic materials company’s stock worth $1,004,036,000 after acquiring an additional 641,003 shares during the period. Finally, Capital World Investors raised its stake in Air Products & Chemicals by 36.8% during the 1st quarter. Capital World Investors now owns 3,495,798 shares of the basic materials company’s stock worth $697,796,000 after acquiring an additional 941,066 shares during the period. 83.66% of the stock is currently owned by institutional investors.
A number of research firms have commented on APD. Morgan Stanley decreased their target price on shares of Air Products & Chemicals from $280.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday, March 30th. Citigroup raised their target price on shares of Air Products & Chemicals from $256.00 to $261.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Sanford C. Bernstein upgraded shares of Air Products & Chemicals from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $246.00 to $262.00 in a research report on Wednesday, April 15th. Zacks Investment Research cut shares of Air Products & Chemicals from a “hold” rating to a “sell” rating and set a $230.00 price objective on the stock. in a research report on Monday, April 27th. Finally, BMO Capital Markets lifted their price objective on shares of Air Products & Chemicals from $270.00 to $295.00 and gave the company an “outperform” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $255.28.
Air Products & Chemicals (NYSE:APD) last posted its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.04 EPS for the quarter, missing the consensus estimate of $2.06 by ($0.02). The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Air Products & Chemicals had a return on equity of 16.36% and a net margin of 21.66%. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.00 earnings per share. Equities research analysts anticipate that Air Products & Chemicals, Inc. will post 8.48 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Wednesday, July 1st will be paid a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Tuesday, June 30th. Air Products & Chemicals’s dividend payout ratio is currently 65.29%.
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: Understanding Average Daily Trade Volume
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