Beach Investment Counsel Inc. PA Has $379,000 Holdings in Air Products & Chemicals, Inc. (NYSE:APD)

Beach Investment Counsel Inc. PA lowered its stake in Air Products & Chemicals, Inc. (NYSE:APD) by 3.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,611 shares of the basic materials company’s stock after selling 50 shares during the period. Beach Investment Counsel Inc. PA’s holdings in Air Products & Chemicals were worth $379,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in APD. BlackRock Inc. increased its stake in shares of Air Products & Chemicals by 2.8% in the second quarter. BlackRock Inc. now owns 16,830,640 shares of the basic materials company’s stock worth $3,809,950,000 after purchasing an additional 454,016 shares during the period. M&G Investment Management Ltd. bought a new position in shares of Air Products & Chemicals in the fourth quarter worth about $76,067,000. Voloridge Investment Management LLC increased its stake in shares of Air Products & Chemicals by 3,218.3% in the third quarter. Voloridge Investment Management LLC now owns 115,279 shares of the basic materials company’s stock worth $25,576,000 after purchasing an additional 111,805 shares during the period. California Public Employees Retirement System increased its stake in shares of Air Products & Chemicals by 29.2% in the third quarter. California Public Employees Retirement System now owns 486,512 shares of the basic materials company’s stock worth $107,938,000 after purchasing an additional 110,071 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of Air Products & Chemicals by 15.6% in the fourth quarter. First Trust Advisors LP now owns 652,649 shares of the basic materials company’s stock worth $153,366,000 after purchasing an additional 88,196 shares during the period. 83.71% of the stock is owned by institutional investors.

In related news, Director Edward L. Monser acquired 200 shares of the stock in a transaction dated Wednesday, January 29th. The shares were bought at an average cost of $237.60 per share, for a total transaction of $47,520.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.35% of the company’s stock.

A number of research firms have recently commented on APD. Barclays lifted their price objective on Air Products & Chemicals from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. BMO Capital Markets lifted their price objective on Air Products & Chemicals from $271.00 to $275.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. UBS Group dropped their price objective on Air Products & Chemicals from $232.00 to $230.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Berenberg Bank assumed coverage on Air Products & Chemicals in a research note on Tuesday, November 26th. They issued a “hold” rating and a $241.00 price objective on the stock. Finally, Morgan Stanley upgraded Air Products & Chemicals from an “equal weight” rating to an “overweight” rating and set a $280.00 price target on the stock in a research note on Monday. Twelve analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $247.83.

Shares of APD opened at $254.88 on Friday. Air Products & Chemicals, Inc. has a 12-month low of $169.89 and a 12-month high of $256.32. The company has a quick ratio of 2.37, a current ratio of 2.59 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $55.55 billion, a price-to-earnings ratio of 29.95, a P/E/G ratio of 2.04 and a beta of 0.86. The stock’s 50-day moving average price is $238.42 and its 200 day moving average price is $228.40.

Air Products & Chemicals (NYSE:APD) last issued its quarterly earnings results on Friday, January 24th. The basic materials company reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.06. Air Products & Chemicals had a return on equity of 16.20% and a net margin of 21.10%. The firm had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same period in the previous year, the company posted $1.86 earnings per share. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. Equities research analysts expect that Air Products & Chemicals, Inc. will post 9.52 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 11th. Stockholders of record on Wednesday, April 1st will be paid a $1.34 dividend. This is a positive change from Air Products & Chemicals’s previous quarterly dividend of $1.16. This represents a $5.36 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Tuesday, March 31st. Air Products & Chemicals’s dividend payout ratio is currently 56.52%.

Air Products & Chemicals Company 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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