Carnegie Capital Asset Management LLC lifted its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD – Get Rating) by 6.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,518 shares of the basic materials company’s stock after acquiring an additional 91 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Air Products and Chemicals were worth $353,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also modified their holdings of APD. Public Investment Fund raised its holdings in shares of Air Products and Chemicals by 269.2% during the 2nd quarter. Public Investment Fund now owns 2,685,331 shares of the basic materials company’s stock worth $645,768,000 after acquiring an additional 1,957,991 shares during the period. Nordea Investment Management AB increased its position in shares of Air Products and Chemicals by 5,609.4% during the 2nd quarter. Nordea Investment Management AB now owns 718,301 shares of the basic materials company’s stock worth $168,758,000 after purchasing an additional 705,720 shares during the last quarter. Credit Suisse AG increased its position in shares of Air Products and Chemicals by 89.5% during the 2nd quarter. Credit Suisse AG now owns 1,382,411 shares of the basic materials company’s stock worth $332,443,000 after purchasing an additional 652,949 shares during the last quarter. Invesco Ltd. increased its position in shares of Air Products and Chemicals by 36.3% during the 1st quarter. Invesco Ltd. now owns 1,287,687 shares of the basic materials company’s stock worth $321,806,000 after purchasing an additional 342,982 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Air Products and Chemicals by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 19,964,806 shares of the basic materials company’s stock worth $4,989,404,000 after purchasing an additional 326,891 shares during the last quarter. Hedge funds and other institutional investors own 82.74% of the company’s stock.
Air Products and Chemicals Stock Performance
Shares of Air Products and Chemicals stock opened at $312.04 on Friday. The business has a 50-day simple moving average of $289.13 and a 200-day simple moving average of $260.72. The company has a market cap of $69.23 billion, a PE ratio of 30.77, a P/E/G ratio of 2.27 and a beta of 0.85. Air Products and Chemicals, Inc. has a one year low of $216.24 and a one year high of $328.56. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.66 and a current ratio of 1.81.
Air Products and Chemicals (NYSE:APD – Get Rating) last posted its earnings results on Thursday, November 3rd. The basic materials company reported $2.89 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.12. The firm had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Air Products and Chemicals had a return on equity of 16.31% and a net margin of 17.77%. The firm’s revenue was up 25.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.51 earnings per share. On average, equities research analysts forecast that Air Products and Chemicals, Inc. will post 11.38 EPS for the current fiscal year.
Air Products and Chemicals Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 13th. Investors of record on Tuesday, January 3rd will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Friday, December 30th. Air Products and Chemicals’s payout ratio is 63.91%.
Insider Buying and Selling
In other Air Products and Chemicals news, VP Sean D. Major sold 485 shares of the business’s stock in a transaction that occurred on Tuesday, December 20th. The stock was sold at an average price of $313.00, for a total value of $151,805.00. Following the completion of the sale, the vice president now owns 14,275 shares in the company, valued at $4,468,075. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.40% of the stock is owned by company insiders.
Analyst Ratings Changes
A number of brokerages recently issued reports on APD. Deutsche Bank Aktiengesellschaft raised their price objective on Air Products and Chemicals from $292.00 to $340.00 in a research report on Wednesday, December 7th. BMO Capital Markets raised their price objective on Air Products and Chemicals from $339.00 to $390.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 22nd. JPMorgan Chase & Co. cut their price objective on Air Products and Chemicals from $295.00 to $290.00 in a research report on Friday, November 4th. Bank of America lifted their target price on Air Products and Chemicals from $281.00 to $308.00 in a research report on Monday, November 7th. Finally, The Goldman Sachs Group lifted their target price on Air Products and Chemicals from $295.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, November 9th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Air Products and Chemicals has an average rating of “Moderate Buy” and a consensus target price of $309.06.
Air Products and Chemicals Profile
Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; 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, manufacturing, electronics, magnetic resonance imaging, energy production, medical, food, and metals.
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