National Asset Management Inc. Buys 1,228 Shares of Air Products & Chemicals, Inc. (NYSE:APD)

National Asset Management Inc. raised its holdings in Air Products & Chemicals, Inc. (NYSE:APD) by 25.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,109 shares of the basic materials company’s stock after purchasing an additional 1,228 shares during the period. National Asset Management Inc.’s holdings in Air Products & Chemicals were worth $1,220,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Covenant Asset Management LLC boosted its holdings in Air Products & Chemicals by 8.0% in the 4th quarter. Covenant Asset Management LLC now owns 2,401 shares of the basic materials company’s stock valued at $564,000 after purchasing an additional 177 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Air Products & Chemicals by 0.6% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 51,997 shares of the basic materials company’s stock valued at $12,219,000 after purchasing an additional 300 shares during the period. Godsey & Gibb Associates bought a new stake in Air Products & Chemicals in the 4th quarter valued at about $207,000. Charter Trust Co. boosted its holdings in Air Products & Chemicals by 26.3% in the 4th quarter. Charter Trust Co. now owns 29,141 shares of the basic materials company’s stock valued at $6,848,000 after purchasing an additional 6,074 shares during the period. Finally, Sepio Capital LLC bought a new stake in Air Products & Chemicals in the 1st quarter valued at about $4,847,000. 83.60% of the stock is owned by hedge funds and other institutional investors.

APD traded down $1.19 during trading on Friday, reaching $234.35. 775,139 shares of the company’s stock were exchanged, compared to its average volume of 1,035,600. Air Products & Chemicals, Inc. has a one year low of $167.43 and a one year high of $257.01. The company has a current ratio of 2.59, a quick ratio of 2.37 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $52.02 billion, a PE ratio of 26.89, a price-to-earnings-growth ratio of 2.94 and a beta of 0.86. The firm has a fifty day moving average price of $219.14 and a two-hundred day moving average price of $227.68.

Air Products & Chemicals (NYSE:APD) last posted its earnings results on Thursday, April 23rd. The basic materials company reported $2.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.06 by ($0.02). Air Products & Chemicals had a return on equity of 16.36% and a net margin of 21.66%. The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the firm earned $2.00 earnings per share. The company’s revenue was up 1.3% compared to the same quarter last year. Sell-side analysts expect that Air Products & Chemicals, Inc. will post 8.48 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Wednesday, July 1st will be issued a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Tuesday, June 30th. Air Products & Chemicals’s payout ratio is 65.29%.

Several equities analysts have recently commented on the stock. Sanford C. Bernstein upgraded shares of Air Products & Chemicals from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $246.00 to $262.00 in a research report on Wednesday, April 15th. Argus restated a “buy” rating and issued a $234.00 target price (down from $276.00) on shares of Air Products & Chemicals in a research report on Wednesday, March 25th. Wells Fargo & Co dropped their target price on shares of Air Products & Chemicals from $265.00 to $260.00 and set an “overweight” rating for the company in a research report on Friday, April 24th. Deutsche Bank boosted their target price on shares of Air Products & Chemicals from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, Zacks Investment Research cut shares of Air Products & Chemicals from a “hold” rating to a “sell” rating and set a $230.00 target price for the company. in a research report on Monday, April 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. Air Products & Chemicals currently has an average rating of “Buy” and an average target price of $247.33.

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

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