Quantitative Investment Management LLC Grows Stake in Air Products & Chemicals (APD)

Quantitative Investment Management LLC grew its stake in shares of Air Products & Chemicals (NYSE:APD) by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 64,800 shares of the basic materials company’s stock after purchasing an additional 1,100 shares during the quarter. Quantitative Investment Management LLC’s holdings in Air Products & Chemicals were worth $10,632,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Findlay Park Partners LLP purchased a new position in shares of Air Products & Chemicals during the third quarter worth approximately $362,928,000. First Eagle Investment Management LLC grew its position in shares of Air Products & Chemicals by 80.2% during the third quarter. First Eagle Investment Management LLC now owns 2,313,812 shares of the basic materials company’s stock worth $349,895,000 after acquiring an additional 1,029,451 shares during the last quarter. BlackRock Inc. grew its position in shares of Air Products & Chemicals by 5.8% during the fourth quarter. BlackRock Inc. now owns 17,544,664 shares of the basic materials company’s stock worth $2,878,729,000 after acquiring an additional 964,497 shares during the last quarter. Prudential Financial Inc. grew its position in shares of Air Products & Chemicals by 239.8% during the third quarter. Prudential Financial Inc. now owns 1,071,131 shares of the basic materials company’s stock worth $161,977,000 after acquiring an additional 755,930 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. grew its position in shares of Air Products & Chemicals by 14,720.5% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 413,046 shares of the basic materials company’s stock worth $62,461,000 after acquiring an additional 410,259 shares during the last quarter. 87.70% of the stock is currently owned by institutional investors.

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APD has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Air Products & Chemicals from a “hold” rating to a “buy” rating and set a $192.00 target price on the stock in a research report on Monday, March 12th. BMO Capital Markets initiated coverage on shares of Air Products & Chemicals in a research report on Tuesday, March 27th. They set an “outperform” rating and a $195.00 target price on the stock. JPMorgan Chase upgraded shares of Air Products & Chemicals from a “neutral” rating to an “overweight” rating in a research report on Friday, February 9th. Seaport Global Securities reiterated a “buy” rating and issued a $185.00 price objective on shares of Air Products & Chemicals in a research report on Monday, January 29th. Finally, Jefferies Group reiterated a “buy” rating and issued a $195.00 price objective on shares of Air Products & Chemicals in a research report on Monday, January 29th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and sixteen have issued a buy rating to the company. Air Products & Chemicals presently has an average rating of “Buy” and a consensus price target of $180.12.

NYSE:APD traded down $2.48 during midday trading on Monday, reaching $156.55. The stock had a trading volume of 1,197,449 shares, compared to its average volume of 1,211,472. The firm has a market cap of $34,817.92, a price-to-earnings ratio of 24.81, a price-to-earnings-growth ratio of 1.33 and a beta of 1.22. Air Products & Chemicals has a 12-month low of $134.09 and a 12-month high of $175.17. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.92 and a quick ratio of 2.73.

Air Products & Chemicals (NYSE:APD) last issued its earnings results on Friday, January 26th. The basic materials company reported $1.79 EPS for the quarter, topping the consensus estimate of $1.66 by $0.13. The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.12 billion. Air Products & Chemicals had a net margin of 33.51% and a return on equity of 14.80%. The business’s revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.47 EPS. analysts expect that Air Products & Chemicals will post 7.32 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, May 14th. Shareholders of record on Monday, April 2nd will be given a dividend of $1.10 per share. This is a positive change from Air Products & Chemicals’s previous quarterly dividend of $0.95. This represents a $4.40 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Thursday, March 29th. Air Products & Chemicals’s payout ratio is presently 60.22%.

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Air Products & Chemicals Company Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, electronics and performance materials, 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 metals, glass, chemical processing, electronics, energy production and refining, food processing, metallurgical, medical, and general manufacturing.

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

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