Ballentine Partners LLC Has $275,000 Position in Air Products and Chemicals, Inc. (NYSE:APD)

Ballentine Partners LLC held its stake in Air Products and Chemicals, Inc. (NYSE:APD) during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 2,031 shares of the basic materials company’s stock at the end of the first quarter. Ballentine Partners LLC’s holdings in Air Products and Chemicals were worth $275,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Hendley & Co. Inc. raised its position in shares of Air Products and Chemicals by 54.7% in the first quarter. Hendley & Co. Inc. now owns 9,108 shares of the basic materials company’s stock valued at $1,232,000 after buying an additional 3,220 shares in the last quarter. Achmea Investment Management B.V. bought a new position in shares of Air Products and Chemicals during the first quarter valued at approximately $1,296,000. Cambridge Trust Co. raised its position in shares of Air Products and Chemicals by 0.4% in the first quarter. Cambridge Trust Co. now owns 7,835 shares of the basic materials company’s stock valued at $1,060,000 after buying an additional 35 shares in the last quarter. Bank of Nova Scotia raised its position in shares of Air Products and Chemicals by 582.6% in the first quarter. Bank of Nova Scotia now owns 138,635 shares of the basic materials company’s stock valued at $18,755,000 after buying an additional 118,324 shares in the last quarter. Finally, Financial Advisors Network Inc. raised its position in shares of Air Products and Chemicals by 8.3% in the first quarter. Financial Advisors Network Inc. now owns 4,582 shares of the basic materials company’s stock valued at $661,000 after buying an additional 350 shares in the last quarter. 88.75% of the stock is owned by institutional investors and hedge funds.

Shares of Air Products and Chemicals, Inc. (NYSE APD) traded up 0.15% during midday trading on Friday, hitting $145.76. 1,402,444 shares of the stock were exchanged. Air Products and Chemicals, Inc. has a 12-month low of $129.00 and a 12-month high of $150.45. The firm has a 50 day moving average of $145.05 and a 200 day moving average of $141.90. The firm has a market cap of $31.77 billion, a P/E ratio of 10.95 and a beta of 1.25.

Air Products and Chemicals (NYSE:APD) last posted its earnings results on Tuesday, August 1st. The basic materials company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.06. Air Products and Chemicals had a net margin of 34.63% and a return on equity of 17.23%. The business had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same period in the previous year, the company posted $1.92 earnings per share. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities analysts forecast that Air Products and Chemicals, Inc. will post $6.23 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Stockholders of record on Tuesday, October 10th will be given a dividend of $0.95 per share. The ex-dividend date is Friday, October 6th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.61%. Air Products and Chemicals’s payout ratio is currently 28.51%.

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APD has been the topic of several recent analyst reports. Deutsche Bank AG upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and upped their price objective for the stock from $148.00 to $160.00 in a report on Monday, May 1st. Credit Suisse Group restated an “outperform” rating and issued a $158.00 price objective (up from $153.00) on shares of Air Products and Chemicals in a report on Wednesday, August 2nd. Zacks Investment Research lowered shares of Air Products and Chemicals from a “buy” rating to a “hold” rating in a report on Monday, May 1st. Vertical Research upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating and set a $146.00 price objective on the stock in a report on Monday, August 7th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $155.00 target price on shares of Air Products and Chemicals in a report on Friday, July 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $152.77.

About Air Products and Chemicals

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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