Air Products and Chemicals, Inc. (NYSE:APD) Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board grew its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 67.8% during the second quarter, HoldingsChannel reports. The firm owned 8,540 shares of the basic materials company’s stock after purchasing an additional 3,451 shares during the quarter. Public Sector Pension Investment Board’s holdings in Air Products and Chemicals were worth $2,204,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Gryphon Financial Partners LLC bought a new position in shares of Air Products and Chemicals during the fourth quarter worth about $486,000. Eagle Asset Management Inc. bought a new position in Air Products and Chemicals during the fourth quarter valued at about $1,440,000. FinTrust Capital Advisors LLC grew its stake in shares of Air Products and Chemicals by 40.9% in the 4th quarter. FinTrust Capital Advisors LLC now owns 186 shares of the basic materials company’s stock worth $51,000 after purchasing an additional 54 shares during the last quarter. Carolinas Wealth Consulting LLC boosted its stake in shares of Air Products and Chemicals by 77.4% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 275 shares of the basic materials company’s stock worth $75,000 after acquiring an additional 120 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Air Products and Chemicals during the 4th quarter worth about $449,000. 81.66% of the stock is owned by institutional investors and hedge funds.

Air Products and Chemicals Stock Performance

Air Products and Chemicals stock opened at $300.36 on Monday. The business has a 50 day moving average of $277.35 and a 200-day moving average of $261.59. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.10. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $302.03. The company has a market capitalization of $66.77 billion, a P/E ratio of 27.11, a P/E/G ratio of 3.89 and a beta of 0.82.

Air Products and Chemicals (NYSE:APD) last issued its earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.16. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $3.04 billion. On average, equities research analysts predict that Air Products and Chemicals, Inc. will post 12.33 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, October 1st will be paid a $1.77 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $7.08 annualized dividend and a yield of 2.36%. Air Products and Chemicals’s dividend payout ratio (DPR) is 63.90%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. UBS Group lifted their price target on Air Products and Chemicals from $276.00 to $281.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Wells Fargo & Company upped their price target on Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Citigroup upped their price target on shares of Air Products and Chemicals from $280.00 to $305.00 and gave the company a “buy” rating in a report on Friday, July 12th. JPMorgan Chase & Co. upped their target price on shares of Air Products and Chemicals from $300.00 to $340.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, StockNews.com upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Monday, September 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Air Products and Chemicals presently has an average rating of “Hold” and a consensus target price of $296.50.

About Air Products and Chemicals

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.