Sumitomo Mitsui DS Asset Management Company Ltd Raises Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Air Products and Chemicals, Inc. (NYSE:APDGet Rating) by 4.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,249 shares of the basic materials company’s stock after acquiring an additional 608 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Air Products and Chemicals were worth $3,667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. SJS Investment Consulting Inc. purchased a new position in shares of Air Products and Chemicals in the 1st quarter worth $30,000. Rise Advisors LLC raised its holdings in Air Products and Chemicals by 57.7% during the first quarter. Rise Advisors LLC now owns 123 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 45 shares during the period. Rational Advisors LLC raised its holdings in Air Products and Chemicals by 68.6% during the first quarter. Rational Advisors LLC now owns 145 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 59 shares during the period. Quent Capital LLC bought a new stake in Air Products and Chemicals during the fourth quarter valued at about $40,000. Finally, FinTrust Capital Advisors LLC raised its holdings in Air Products and Chemicals by 617.4% during the first quarter. FinTrust Capital Advisors LLC now owns 165 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 142 shares during the period. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Performance

Shares of NYSE:APD opened at $241.46 on Thursday. The company has a market capitalization of $53.56 billion, a price-to-earnings ratio of 23.53, a price-to-earnings-growth ratio of 1.70 and a beta of 0.79. Air Products and Chemicals, Inc. has a 52 week low of $216.24 and a 52 week 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 50 day moving average of $251.42 and a 200 day moving average of $244.28.

Air Products and Chemicals (NYSE:APDGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The basic materials company reported $2.62 EPS for the quarter, beating 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 company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same period in the prior year, the company earned $2.31 earnings per share. The firm’s revenue was up 22.4% on a year-over-year basis. On average, sell-side analysts predict 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 firm also recently declared a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Monday, October 3rd will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 2.68%. The ex-dividend date is Friday, September 30th. Air Products and Chemicals’s payout ratio is 63.16%.

Analyst Upgrades and Downgrades

A number of research firms have commented on APD. Bank of America decreased their price target on Air Products and Chemicals from $272.00 to $271.00 and set a “neutral” rating on the stock in a report on Wednesday, July 13th. Jefferies Financial Group decreased their price target on Air Products and Chemicals from $270.00 to $257.00 in a report on Thursday, June 16th. UBS Group reduced their target price on Air Products and Chemicals from $321.00 to $295.00 in a report on Wednesday, July 13th. Cowen reduced their target price on Air Products and Chemicals from $345.00 to $305.00 and set an “outperform” rating on the stock in a report on Tuesday, July 19th. Finally, Mizuho reduced their target price on Air Products and Chemicals from $312.00 to $286.00 and set a “buy” rating on the stock in a report on Thursday, July 7th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $292.56.

About Air Products and Chemicals

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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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