Virginia Retirement Systems ET AL maintained its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,100 shares of the basic materials company’s stock at the end of the second quarter. Virginia Retirement Systems ET AL’s holdings in Air Products and Chemicals were worth $6,023,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in APD. BlackRock Inc. boosted 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 in the last quarter. First Eagle Investment Management LLC boosted 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 in the last quarter. Vanguard Group Inc. boosted 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 in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted 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 in the last quarter. Finally, Cibc World Markets Corp boosted 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 in the last quarter. 88.75% of the stock is owned by institutional investors and hedge funds.
Air Products and Chemicals, Inc. (NYSE:APD) opened at 146.01 on Friday. The firm has a 50 day moving average of $145.45 and a 200-day moving average of $142.15. The company has a market capitalization of $31.82 billion, a price-to-earnings ratio of 10.97 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, beating 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 business had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter last year, the business posted $1.92 earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. Equities analysts expect that Air Products and Chemicals, Inc. will post $6.23 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Stockholders of record on Tuesday, October 10th will be given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Friday, October 6th. Air Products and Chemicals’s dividend payout ratio is currently 28.51%.
A number of analysts have commented on APD shares. Deutsche Bank AG raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and upped their target price for the company from $148.00 to $160.00 in a report on Monday, May 1st. Zacks Investment Research cut shares of Air Products and Chemicals from a “buy” rating to a “hold” rating in a report on Monday, May 1st. BidaskClub cut shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Jefferies Group LLC reaffirmed a “hold” rating and set a $155.00 target price on shares of Air Products and Chemicals in a report on Tuesday, May 2nd. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $158.00 target price (up from $153.00) on shares of Air Products and Chemicals in a report on Wednesday, August 2nd. Two 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 stock. Air Products and Chemicals currently has an average rating of “Hold” and a consensus price target of $152.77.
Air Products and Chemicals Company Profile
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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