Armbruster Capital Management Inc. Has $130,000 Position in Air Products and Chemicals, Inc. (APD)

Armbruster Capital Management Inc. increased its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 13.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 908 shares of the basic materials company’s stock after buying an additional 108 shares during the period. Armbruster Capital Management Inc.’s holdings in Air Products and Chemicals were worth $130,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of APD. Advisor Partners LLC raised its position in shares of Air Products and Chemicals by 32.2% in the second quarter. Advisor Partners LLC now owns 4,903 shares of the basic materials company’s stock worth $701,000 after buying an additional 1,195 shares in the last quarter. Pictet Asset Management Ltd. raised its position in shares of Air Products and Chemicals by 0.7% in the second quarter. Pictet Asset Management Ltd. now owns 122,625 shares of the basic materials company’s stock worth $17,666,000 after buying an additional 800 shares in the last quarter. Goelzer Investment Management Inc. raised its position in shares of Air Products and Chemicals by 2.3% in the second quarter. Goelzer Investment Management Inc. now owns 18,884 shares of the basic materials company’s stock worth $2,702,000 after buying an additional 417 shares in the last quarter. Beach Investment Management LLC. bought a new position in shares of Air Products and Chemicals during the second quarter worth approximately $238,000. Finally, Peak Asset Management LLC bought a new position in shares of Air Products and Chemicals during the second quarter worth approximately $247,000. 88.75% of the stock is currently owned by institutional investors and hedge funds.

Shares of Air Products and Chemicals, Inc. (APD) opened at 148.08 on Thursday. The company’s 50-day moving average price is $145.03 and its 200 day moving average price is $141.88. The company has a market cap of $32.28 billion, a P/E ratio of 11.12 and a beta of 1.25. Air Products and Chemicals, Inc. has a 52 week low of $129.00 and a 52 week high of $150.45.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.06. The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.06 billion. Air Products and Chemicals had a return on equity of 17.23% and a net margin of 34.63%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.92 earnings per share. On average, equities analysts forecast that Air Products and Chemicals, Inc. will post $6.23 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Tuesday, October 10th will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Friday, October 6th. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 28.51%.

A number of research analysts have recently commented on the company. Vertical Research raised Air Products and Chemicals from a “sell” rating to a “hold” rating and set a $146.00 price objective on the stock in a report on Monday, August 7th. Barclays PLC reissued a “buy” rating and set a $170.00 price objective on shares of Air Products and Chemicals in a report on Friday, August 4th. Deutsche Bank AG increased their price objective on Air Products and Chemicals from $160.00 to $168.00 and gave the company a “hold” rating in a report on Wednesday, August 2nd. Credit Suisse Group reissued an “outperform” rating and set a $158.00 price objective (up previously from $153.00) on shares of Air Products and Chemicals in a report on Wednesday, August 2nd. Finally, Jefferies Group LLC reissued a “hold” rating and set a $155.00 price objective on shares of Air Products and Chemicals in a report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $152.77.

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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