Cullinan Associates Inc. Holds Position in Air Products and Chemicals, Inc. (NYSE:APD)

Cullinan Associates Inc. held its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) during the second quarter, according to its most recent filing with the SEC. The fund owned 5,700 shares of the basic materials company’s stock at the end of the second quarter. Cullinan Associates Inc.’s holdings in Air Products and Chemicals were worth $815,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in APD. Trust Co. of Vermont raised its stake in shares of Air Products and Chemicals by 5.7% in the second quarter. Trust Co. of Vermont now owns 50,913 shares of the basic materials company’s stock valued at $7,284,000 after buying an additional 2,742 shares during the last quarter. Bank of The West raised its stake in shares of Air Products and Chemicals by 24.5% in the second quarter. Bank of The West now owns 3,093 shares of the basic materials company’s stock valued at $443,000 after buying an additional 609 shares during the last quarter. Pennsylvania Trust Co raised its stake in shares of Air Products and Chemicals by 103.7% in the second quarter. Pennsylvania Trust Co now owns 64,030 shares of the basic materials company’s stock valued at $9,160,000 after buying an additional 32,601 shares in the last quarter. Confluence Investment Management LLC raised its stake in shares of Air Products and Chemicals by 4.9% in the second quarter. Confluence Investment Management LLC now owns 91,284 shares of the basic materials company’s stock valued at $13,059,000 after buying an additional 4,268 shares in the last quarter. Finally, Covenant Asset Management LLC bought a new stake in shares of Air Products and Chemicals during the second quarter valued at approximately $214,000. 88.75% of the stock is currently owned by institutional investors.

Air Products and Chemicals, Inc. (APD) traded up 0.15% during midday trading on Friday, reaching $145.76. The company had a trading volume of 1,402,444 shares. The stock has a 50-day moving average price of $145.17 and a 200 day moving average price of $141.94. Air Products and Chemicals, Inc. has a 12-month low of $129.00 and a 12-month high of $150.45. The company has a market capitalization of $31.77 billion, a PE ratio of 10.95 and a beta of 1.25.

Air Products and Chemicals (NYSE:APD) last announced its earnings results on Tuesday, August 1st. The basic materials company reported $1.65 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 during the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter last year, the firm earned $1.92 earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. Equities analysts forecast that Air Products and Chemicals, Inc. will post $6.23 EPS for the current year.

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

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APD has been the topic of several recent analyst reports. Barclays PLC reaffirmed a “buy” rating and issued a $170.00 price target on shares of Air Products and Chemicals in a research note on Friday, August 4th. Deutsche Bank AG raised Air Products and Chemicals from a “hold” rating to a “buy” rating and boosted their price target for the company from $148.00 to $160.00 in a research note on Monday, May 1st. Jefferies Group LLC reaffirmed a “hold” rating and issued a $155.00 price target on shares of Air Products and Chemicals in a research note on Tuesday, May 2nd. Zacks Investment Research lowered Air Products and Chemicals from a “buy” rating to a “hold” rating in a research note on Monday, May 1st. Finally, Vertical Research upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating and set a $146.00 price objective for the company in a research report on Monday, August 7th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average 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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