Air Products and Chemicals, Inc. (APD) Shares Bought by Clearbridge Investments LLC

Clearbridge Investments LLC raised its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 17.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 421,455 shares of the basic materials company’s stock after buying an additional 61,230 shares during the period. Clearbridge Investments LLC owned approximately 0.19% of Air Products and Chemicals worth $57,019,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. iAB Financial Bank acquired a new position in shares of Air Products and Chemicals during the first quarter worth about $100,000. Patten Group Inc. increased its position in Air Products and Chemicals by 3.7% in the first quarter. Patten Group Inc. now owns 778 shares of the basic materials company’s stock worth $105,000 after buying an additional 28 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in Air Products and Chemicals during the first quarter worth $109,000. Guardian Life Insurance Co. of America increased its position in Air Products and Chemicals by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 838 shares of the basic materials company’s stock worth $113,000 after buying an additional 6 shares in the last quarter. Finally, Webster Bank N. A. increased its position in Air Products and Chemicals by 68.2% in the first quarter. Webster Bank N. A. now owns 851 shares of the basic materials company’s stock worth $115,000 after buying an additional 345 shares in the last quarter. 88.75% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals, Inc. (NYSE APD) traded up 0.15% on Friday, hitting $145.76. The stock had a trading volume of 1,402,444 shares. Air Products and Chemicals, Inc. has a 52-week low of $129.00 and a 52-week high of $150.45. The company has a 50 day moving average price of $145.17 and a 200-day moving average price of $141.94. The company has a market cap of $31.77 billion, a price-to-earnings ratio of 10.95 and a beta of 1.25.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $1.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.06. The business had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Air Products and Chemicals had a return on equity of 17.23% and a net margin of 34.63%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.92 EPS. On average, equities research analysts predict that Air Products and Chemicals, Inc. will post $6.23 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Stockholders of record on Tuesday, October 10th will be issued a $0.95 dividend. The ex-dividend date is Friday, October 6th. This represents a $3.80 annualized dividend and a dividend yield of 2.61%. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 28.51%.

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APD has been the topic of a number of recent research reports. Barclays PLC reissued a “buy” rating and issued a $170.00 target price on shares of Air Products and Chemicals in a report on Friday, August 4th. Deutsche Bank AG raised Air Products and Chemicals from a “hold” rating to a “buy” rating and increased their target price for the company from $148.00 to $160.00 in a report on Monday, May 1st. Jefferies Group LLC reissued a “hold” rating and issued a $155.00 target price on shares of Air Products and Chemicals in a report on Tuesday, May 2nd. Zacks Investment Research downgraded Air Products and Chemicals from a “buy” rating to a “hold” rating in a report on Monday, May 1st. Finally, Vertical Research raised Air Products and Chemicals from a “sell” rating to a “hold” rating and set a $146.00 target price on the stock in a report on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Air Products and Chemicals presently has a consensus rating of “Hold” and an average target price of $152.77.

Air Products and Chemicals Company Profile

Air Products and Chemicals, Inc, is an industrial gases company. The Company’s Industrial Gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. The Company is also a supplier of liquefied natural gas process technology and equipment.

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

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