Barings LLC Raises Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Barings LLC lifted its position in Air Products and Chemicals, Inc. (NYSE:APD) by 18.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,331 shares of the basic materials company’s stock after purchasing an additional 4,352 shares during the period. Barings LLC’s holdings in Air Products and Chemicals were worth $7,863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of APD. Essex Investment Management Co. LLC lifted its stake in shares of Air Products and Chemicals by 213.3% in the 1st quarter. Essex Investment Management Co. LLC now owns 94 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 64 shares during the period. Meridian Wealth Partners LLC purchased a new position in shares of Air Products and Chemicals in the 1st quarter valued at about $30,000. Emerald Advisers LLC purchased a new position in shares of Air Products and Chemicals in the 2nd quarter valued at about $32,000. Tobam purchased a new position in shares of Air Products and Chemicals in the 1st quarter valued at about $39,000. Finally, Solstein Capital LLC purchased a new position in shares of Air Products and Chemicals in the 1st quarter valued at about $40,000. Hedge funds and other institutional investors own 80.23% of the company’s stock.

APD stock traded up $2.31 during trading on Wednesday, reaching $259.70. 10,693 shares of the stock were exchanged, compared to its average volume of 1,004,820. The company has a current ratio of 3.11, a quick ratio of 2.94 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average price of $276.73 and a 200-day moving average price of $285.06. Air Products and Chemicals, Inc. has a 1 year low of $245.75 and a 1 year high of $327.89. The firm has a market capitalization of $57.49 billion, a price-to-earnings ratio of 28.95, a P/E/G ratio of 2.83 and a beta of 0.74.

Air Products and Chemicals (NYSE:APD) last issued its earnings results on Sunday, August 8th. The basic materials company reported $2.31 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.05). Air Products and Chemicals had a return on equity of 14.84% and a net margin of 20.15%. The firm had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same period last year, the firm earned $2.01 earnings per share. Air Products and Chemicals’s revenue for the quarter was up 26.1% on a year-over-year basis. On average, research analysts anticipate that Air Products and Chemicals, Inc. will post 9.01 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 8th. Shareholders of record on Friday, October 1st will be paid a dividend of $1.50 per share. The ex-dividend date is Thursday, September 30th. This represents a $6.00 annualized dividend and a yield of 2.31%. Air Products and Chemicals’s dividend payout ratio (DPR) is 71.60%.

A number of equities research analysts recently issued reports on the stock. Cowen dropped their price target on shares of Air Products and Chemicals from $360.00 to $335.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 10th. Susquehanna raised shares of Air Products and Chemicals from a “neutral” rating to a “positive” rating and raised their price target for the company from $240.00 to $350.00 in a research note on Friday, June 11th. Societe Generale raised their price target on shares of Air Products and Chemicals from $295.00 to $334.00 and gave the company a “buy” rating in a research note on Tuesday, June 22nd. HSBC decreased their price target on shares of Air Products and Chemicals from $275.00 to $269.00 and set a “hold” rating on the stock in a research note on Thursday, June 3rd. Finally, Susquehanna Bancshares raised shares of Air Products and Chemicals to a “positive” rating and raised their price target for the company from $240.00 to $350.00 in a research note on Friday, June 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $313.24.

Air Products and Chemicals Company Profile

Air Products & Chemicals, Inc engages in the manufacture and distribution of atmospheric gases. It operates through the following segments: Industrial Gases-Americas, Industrial Gases-EMEA (Europe, Middle East, and Africa), Industrial Gases-Asia, Industrial Gases-Global and Corporate and Other. The Industrial Gases-America, EMEA and Asia segment markets and produces atmospheric gases such as 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 and processing of gases such as air separation units and non-cryogenic generators.

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

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