Horizon Investments LLC Has $502,000 Stake in Air Products and Chemicals, Inc. (APD)

Horizon Investments LLC cut its position in Air Products and Chemicals, Inc. (NYSE:APD) by 44.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,510 shares of the basic materials company’s stock after selling 2,763 shares during the quarter. Horizon Investments LLC’s holdings in Air Products and Chemicals were worth $502,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Pacific Alternative Asset Management Company LLC acquired a new stake in Air Products and Chemicals during the 2nd quarter valued at $2,199,000. Willis Investment Counsel increased its stake in Air Products and Chemicals by 189.5% during the 2nd quarter. Willis Investment Counsel now owns 107,700 shares of the basic materials company’s stock worth $15,408,000 after buying an additional 70,500 shares during the period. FIL Ltd purchased a new stake in Air Products and Chemicals during the 2nd quarter worth $603,000. TIAA FSB purchased a new stake in Air Products and Chemicals during the 2nd quarter worth $9,649,000. Finally, Vanguard Group Inc. increased its stake in Air Products and Chemicals by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 17,493,224 shares of the basic materials company’s stock worth $2,502,580,000 after buying an additional 604,454 shares during the period. 87.86% of the stock is owned by institutional investors and hedge funds.

Shares of Air Products and Chemicals, Inc. (APD) traded down 0.52% on Friday, hitting $150.26. The stock had a trading volume of 2,424,617 shares. Air Products and Chemicals, Inc. has a 1-year low of $129.00 and a 1-year high of $151.42. The stock has a market cap of $32.75 billion, a P/E ratio of 11.29 and a beta of 1.25. The firm’s 50-day moving average is $146.74 and its 200 day moving average is $142.94.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Tuesday, August 1st. The basic materials company reported $1.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.06. Air Products and Chemicals had a net margin of 34.63% and a return on equity of 17.23%. 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 company earned $1.92 earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis. Equities analysts forecast 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. Investors of record on Tuesday, October 10th will be paid a dividend of $0.95 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $3.80 annualized dividend and a yield of 2.53%. Air Products and Chemicals’s dividend payout ratio is 28.51%.

APD has been the subject of a number of analyst reports. Susquehanna Bancshares Inc raised shares of Air Products and Chemicals from a “neutral” rating to a “positive” rating and upped their price objective for the company from $165.00 to $175.00 in a research report on Thursday, September 14th. UBS AG raised Air Products and Chemicals from a “neutral” rating to a “positive” rating in a research report on Wednesday, September 13th. Vertical Research reaffirmed a “hold” rating and set a $148.00 target price (up from $146.00) on shares of Air Products and Chemicals in a research report on Tuesday, September 12th. Deutsche Bank AG boosted their price target on Air Products and Chemicals from $160.00 to $168.00 and gave the stock a “hold” rating in a research note on Wednesday, August 2nd. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $158.00 price target (up previously from $153.00) on shares of Air Products and Chemicals in a research note on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $155.33.

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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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Institutional Ownership by Quarter for Air Products and Chemicals (NYSE:APD)

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