Harvey Investment Co. LLC maintained its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,911 shares of the basic materials company’s stock at the end of the second quarter. Harvey Investment Co. LLC’s holdings in Air Products and Chemicals were worth $2,276,000 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. Gilman Hill Asset Management LLC purchased a new position in shares of Air Products and Chemicals during the second quarter worth approximately $200,000. Argus Investors Counsel Inc. boosted its position in shares of Air Products and Chemicals by 6.4% in the second quarter. Argus Investors Counsel Inc. now owns 30,826 shares of the basic materials company’s stock worth $4,410,000 after buying an additional 1,846 shares during the period. PGGM Investments boosted its position in shares of Air Products and Chemicals by 12.1% in the second quarter. PGGM Investments now owns 216,331 shares of the basic materials company’s stock worth $30,948,000 after buying an additional 23,388 shares during the period. Gilbert & Cook Inc. purchased a new position in shares of Air Products and Chemicals during the second quarter worth approximately $215,000. Finally, Quantitative Systematic Strategies LLC boosted its position in shares of Air Products and Chemicals by 204.4% in the second quarter. Quantitative Systematic Strategies LLC now owns 4,521 shares of the basic materials company’s stock worth $641,000 after buying an additional 3,036 shares during the period. Institutional investors own 88.75% of the company’s stock.
Shares of Air Products and Chemicals, Inc. (APD) opened at 145.54 on Friday. Air Products and Chemicals, Inc. has a 1-year low of $129.00 and a 1-year high of $150.45. The company’s 50-day moving average price is $145.05 and its 200 day moving average price is $141.90. The stock has a market cap of $31.72 billion, a PE ratio of 10.93 and a beta of 1.25.
Air Products and Chemicals (NYSE:APD) last released its earnings results on Tuesday, August 1st. The basic materials company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter last year, the business posted $1.92 EPS. Air Products and Chemicals’s quarterly revenue was up 10.8% compared to the same quarter last year. Equities analysts forecast that Air Products and Chemicals, Inc. will post $6.23 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Tuesday, October 10th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Friday, October 6th. Air Products and Chemicals’s dividend payout ratio is presently 28.51%.
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Several equities analysts have recently issued reports on APD shares. Deutsche Bank AG upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and lifted their price objective for the company from $148.00 to $160.00 in a research note on Monday, May 1st. Zacks Investment Research cut Air Products and Chemicals from a “buy” rating to a “hold” rating in a research note on Monday, May 1st. Jefferies Group LLC reiterated a “hold” rating and issued a $155.00 price objective on shares of Air Products and Chemicals in a research note on Tuesday, May 2nd. BidaskClub cut Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $158.00 price objective (up previously from $153.00) on shares of Air Products and Chemicals in a research note on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target 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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