Renaissance Investment Group LLC boosted its position in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 1.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,170 shares of the basic materials company’s stock after acquiring an additional 621 shares during the quarter. Air Products & Chemicals accounts for approximately 3.4% of Renaissance Investment Group LLC’s investment portfolio, making the stock its 8th biggest position. Renaissance Investment Group LLC’s holdings in Air Products & Chemicals were worth $9,093,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. IMA Wealth Inc. raised its position in Air Products & Chemicals by 285.7% in the 1st quarter. IMA Wealth Inc. now owns 135 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 100 shares in the last quarter. Field & Main Bank acquired a new stake in Air Products & Chemicals in the 1st quarter valued at about $27,000. Advisory Alpha LLC acquired a new stake in Air Products & Chemicals in the 1st quarter valued at about $29,000. Destination Wealth Management acquired a new stake in Air Products & Chemicals in the 1st quarter valued at about $40,000. Finally, Pinnacle Bank acquired a new stake in Air Products & Chemicals in the 4th quarter valued at about $38,000. Institutional investors own 87.10% of the company’s stock.
A number of equities research analysts have issued reports on the company. Vertical Research lowered Air Products & Chemicals from a “buy” rating to a “hold” rating in a research report on Thursday, April 25th. Citigroup set a $12.00 price target on Controladora Vuela Co Avcn SA CV and gave the company a “buy” rating in a research report on Monday, July 15th. Credit Suisse Group reduced their price target on Lennox International from $282.00 to $265.00 and set a “neutral” rating on the stock in a research report on Tuesday. Bank of America raised Air Products & Chemicals from an “underperform” rating to a “neutral” rating and increased their price target for the company from $170.00 to $215.00 in a research report on Thursday, April 25th. Finally, Sanford C. Bernstein reaffirmed a “sell” rating on shares of Linde in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Air Products & Chemicals presently has a consensus rating of “Buy” and a consensus target price of $230.69.
In other news, VP Russell A. Flugel sold 2,970 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $207.01, for a total transaction of $614,819.70. Following the sale, the vice president now owns 6,387 shares of the company’s stock, valued at approximately $1,322,172.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.35% of the stock is currently owned by company insiders.
Shares of NYSE APD traded up $1.46 during midday trading on Friday, hitting $229.11. 500,871 shares of the company’s stock were exchanged, compared to its average volume of 855,924. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 2.36. Air Products & Chemicals, Inc. has a twelve month low of $148.44 and a twelve month high of $231.45. The company has a market cap of $49.50 billion, a P/E ratio of 30.75, a PEG ratio of 2.23 and a beta of 0.83. The firm has a fifty day simple moving average of $224.60.
Air Products & Chemicals (NYSE:APD) last issued its earnings results on Thursday, July 25th. The basic materials company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.03. Air Products & Chemicals had a return on equity of 15.28% and a net margin of 18.90%. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter last year, the company earned $1.95 EPS. The business’s quarterly revenue was down 1.5% on a year-over-year basis. On average, analysts anticipate that Air Products & Chemicals, Inc. will post 8.22 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 11th. Stockholders of record on Tuesday, October 1st will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Monday, September 30th. Air Products & Chemicals’s dividend payout ratio (DPR) is presently 62.28%.
Air Products & Chemicals Profile
Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, 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 refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.
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