Advisory Services Network LLC Has $2.22 Million Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Advisory Services Network LLC lifted its stake in Air Products and Chemicals, Inc. (NYSE:APDGet Rating) by 10.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,877 shares of the basic materials company’s stock after acquiring an additional 846 shares during the quarter. Advisory Services Network LLC’s holdings in Air Products and Chemicals were worth $2,219,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Castellan Group increased its stake in shares of Air Products and Chemicals by 32.8% in the first quarter. Castellan Group now owns 7,045 shares of the basic materials company’s stock worth $1,761,000 after acquiring an additional 1,740 shares during the last quarter. Verity Asset Management Inc. increased its position in Air Products and Chemicals by 15.1% during the first quarter. Verity Asset Management Inc. now owns 1,148 shares of the basic materials company’s stock worth $287,000 after buying an additional 151 shares during the last quarter. EP Wealth Advisors LLC increased its position in Air Products and Chemicals by 11.2% during the first quarter. EP Wealth Advisors LLC now owns 1,900 shares of the basic materials company’s stock worth $475,000 after buying an additional 191 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Air Products and Chemicals by 4.5% during the first quarter. The Manufacturers Life Insurance Company now owns 176,715 shares of the basic materials company’s stock worth $44,163,000 after buying an additional 7,689 shares during the last quarter. Finally, Toroso Investments LLC increased its position in Air Products and Chemicals by 109.9% during the first quarter. Toroso Investments LLC now owns 9,607 shares of the basic materials company’s stock worth $2,401,000 after buying an additional 5,031 shares during the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

APD has been the topic of several analyst reports. Mizuho lowered their target price on shares of Air Products and Chemicals from $312.00 to $286.00 and set a “buy” rating on the stock in a research report on Thursday, July 7th. Atlantic Securities upgraded shares of Air Products and Chemicals from a “neutral” rating to an “overweight” rating and upped their price target for the company from $280.00 to $290.00 in a report on Wednesday, May 25th. Cowen decreased their price target on shares of Air Products and Chemicals from $345.00 to $305.00 and set an “outperform” rating for the company in a report on Tuesday, July 19th. UBS Group decreased their price target on shares of Air Products and Chemicals from $321.00 to $295.00 in a report on Wednesday, July 13th. Finally, Citigroup upped their price target on shares of Air Products and Chemicals to $272.00 in a report on Monday, August 15th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $292.56.

Air Products and Chemicals Stock Performance

NYSE:APD opened at $247.36 on Friday. Air Products and Chemicals, Inc. has a 12-month low of $216.24 and a 12-month high of $316.39. The company has a quick ratio of 1.72, a current ratio of 1.87 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $54.86 billion, a PE ratio of 24.11, a price-to-earnings-growth ratio of 1.70 and a beta of 0.79. The firm has a 50-day moving average price of $250.58 and a 200 day moving average price of $243.99.

Air Products and Chemicals (NYSE:APDGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The basic materials company reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.61 by $0.01. Air Products and Chemicals had a net margin of 19.08% and a return on equity of 15.61%. The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.02 billion. During the same quarter in the prior year, the business posted $2.31 earnings per share. The company’s quarterly revenue was up 22.4% compared to the same quarter last year. Research analysts anticipate that Air Products and Chemicals, Inc. will post 10.29 earnings per share for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Stockholders of record on Monday, October 3rd will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Friday, September 30th. Air Products and Chemicals’s payout ratio is 63.16%.

Air Products and Chemicals Profile

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Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas; 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, manufacturing, food and beverage, electronics, magnetic resonance imaging, energy production and refining, and metals.

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

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