DNB Asset Management AS Raises Position in Air Products & Chemicals, Inc. (NYSE:APD)

DNB Asset Management AS raised its holdings in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 24.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 44,319 shares of the basic materials company’s stock after purchasing an additional 8,618 shares during the period. DNB Asset Management AS’s holdings in Air Products & Chemicals were worth $10,701,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. increased its stake in Air Products & Chemicals by 1.5% during the 4th quarter. Victory Capital Management Inc. now owns 347,386 shares of the basic materials company’s stock valued at $81,632,000 after purchasing an additional 5,290 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Air Products & Chemicals by 0.8% in the fourth quarter. Franklin Resources Inc. now owns 4,388,992 shares of the basic materials company’s stock worth $1,031,370,000 after buying an additional 33,570 shares in the last quarter. Vestcor Investment Management Corp purchased a new position in shares of Air Products & Chemicals in the fourth quarter worth about $1,124,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Air Products & Chemicals by 0.6% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 51,997 shares of the basic materials company’s stock worth $12,219,000 after buying an additional 300 shares in the last quarter. Finally, AJO LP lifted its stake in shares of Air Products & Chemicals by 30.0% in the fourth quarter. AJO LP now owns 13,311 shares of the basic materials company’s stock worth $3,127,000 after buying an additional 3,068 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Shares of APD stock opened at $269.79 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.37 and a current ratio of 2.59. The stock has a market capitalization of $58.56 billion, a P/E ratio of 30.80, a price-to-earnings-growth ratio of 3.52 and a beta of 0.85. The company has a 50 day moving average price of $240.64 and a 200 day moving average price of $229.75. Air Products & Chemicals, Inc. has a fifty-two week low of $167.43 and a fifty-two week high of $276.86.

Air Products & Chemicals (NYSE:APD) last announced its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.04 earnings per share for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.02). The business had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.16 billion. Air Products & Chemicals had a net margin of 21.66% and a return on equity of 16.36%. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.00 EPS. On average, research analysts forecast that Air Products & Chemicals, Inc. will post 8.48 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Wednesday, July 1st will be issued a $1.34 dividend. 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 (DPR) is currently 65.29%.

APD has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Air Products & Chemicals from a “hold” rating to a “sell” rating and set a $230.00 price objective for the company. in a research report on Monday, April 27th. Sanford C. Bernstein upgraded shares of Air Products & Chemicals from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $246.00 to $262.00 in a research report on Wednesday, April 15th. SunTrust Banks raised their price objective on shares of Air Products & Chemicals from $265.00 to $295.00 and gave the stock a “buy” rating in a research report on Wednesday. Wells Fargo & Co cut their price objective on shares of Air Products & Chemicals from $265.00 to $260.00 and set an “overweight” rating for the company in a research report on Friday, April 24th. Finally, Atlantic Securities upgraded shares of Air Products & Chemicals to a “buy” rating in a research report on Monday, March 16th. One equities research 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. The stock currently has an average rating of “Buy” and an average target price of $255.28.

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.

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

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