West Oak Capital LLC decreased its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,875 shares of the basic materials company’s stock after selling 104 shares during the period. Air Products and Chemicals accounts for about 1.2% of West Oak Capital LLC’s portfolio, making the stock its 17th largest position. West Oak Capital LLC’s holdings in Air Products and Chemicals were worth $1,985,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Air Products and Chemicals by 1,973.1% in the first quarter. BlackRock Inc. now owns 14,149,340 shares of the basic materials company’s stock worth $1,914,263,000 after buying an additional 13,466,808 shares during the last quarter. First Eagle Investment Management LLC increased its stake in shares of Air Products and Chemicals by 243.2% in the first quarter. First Eagle Investment Management LLC now owns 1,789,910 shares of the basic materials company’s stock worth $242,157,000 after buying an additional 1,268,305 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Air Products and Chemicals by 5.5% in the first quarter. Vanguard Group Inc. now owns 16,888,770 shares of the basic materials company’s stock worth $2,284,882,000 after buying an additional 887,369 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Air Products and Chemicals by 6.8% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 9,651,446 shares of the basic materials company’s stock worth $1,305,744,000 after buying an additional 611,672 shares during the last quarter. Finally, Cibc World Markets Corp increased its stake in shares of Air Products and Chemicals by 59.3% in the first quarter. Cibc World Markets Corp now owns 1,524,806 shares of the basic materials company’s stock worth $206,291,000 after buying an additional 567,786 shares during the last quarter. 89.20% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Air Products and Chemicals, Inc. (NYSE:APD) traded up 0.20% during midday trading on Friday, reaching $147.22. 804,503 shares of the company traded hands. The stock has a 50 day moving average price of $144.52 and a 200 day moving average price of $141.78. Air Products and Chemicals, Inc. has a 1-year low of $129.00 and a 1-year high of $150.45. The firm has a market capitalization of $32.09 billion, a PE ratio of 11.06 and a beta of 1.25.
Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $1.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.06. Air Products and Chemicals had a return on equity of 17.23% and a net margin of 34.63%. The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the prior year, the company earned $1.92 EPS. The firm’s revenue was up 10.8% compared to the same quarter last year. Analysts expect that Air Products and Chemicals, Inc. will post $6.20 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Tuesday, October 10th will be paid a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 2.58%. The ex-dividend date is Friday, October 6th. Air Products and Chemicals’s dividend payout ratio is currently 28.51%.
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A number of analysts have recently issued reports on APD shares. Deutsche Bank AG raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and raised their price target for the company from $148.00 to $160.00 in a report on Monday, May 1st. Zacks Investment Research downgraded shares of Air Products and Chemicals from a “buy” rating to a “hold” rating in a report on Monday, May 1st. BidaskClub downgraded shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Jefferies Group LLC reissued a “hold” rating and issued a $155.00 price objective on shares of Air Products and Chemicals in a report on Tuesday, May 2nd. Finally, Barclays PLC reissued a “buy” rating and issued a $170.00 price objective on shares of Air Products and Chemicals in a report on Friday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $153.85.
About Air Products and Chemicals
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.
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