Perennial Advisors LLC raised its position in Air Products and Chemicals, Inc. (NYSE:APD) by 3.7% during the second quarter, Holdings Channel reports. The fund owned 13,364 shares of the basic materials company’s stock after buying an additional 475 shares during the period. Perennial Advisors LLC’s holdings in Air Products and Chemicals were worth $1,912,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. iAB Financial Bank acquired a new stake in Air Products and Chemicals during the first quarter worth approximately $100,000. Patten Group Inc. raised its stake in Air Products and Chemicals by 3.7% in the first quarter. Patten Group Inc. now owns 778 shares of the basic materials company’s stock worth $105,000 after buying an additional 28 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in Air Products and Chemicals during the first quarter worth approximately $109,000. Guardian Life Insurance Co. of America raised its stake in Air Products and Chemicals by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 838 shares of the basic materials company’s stock worth $113,000 after buying an additional 6 shares during the last quarter. Finally, Webster Bank N. A. raised its stake in Air Products and Chemicals by 68.2% in the first quarter. Webster Bank N. A. now owns 851 shares of the basic materials company’s stock worth $115,000 after buying an additional 345 shares during 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 146.64 on Tuesday. Air Products and Chemicals, Inc. has a 52-week low of $129.00 and a 52-week high of $150.45. The stock has a market capitalization of $31.96 billion, a P/E ratio of 11.02 and a beta of 1.25. The company’s 50-day moving average price is $144.86 and its 200 day moving average price is $141.80.

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 (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the prior year, the firm earned $1.92 EPS. The firm’s revenue was up 10.8% on a year-over-year basis. On average, equities research analysts predict that Air Products and Chemicals, Inc. will post $6.23 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Tuesday, October 10th will be given a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend is Friday, October 6th. Air Products and Chemicals’s payout ratio is 28.51%.

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A number of research firms have recently issued reports on APD. Barclays PLC restated a “buy” rating and issued a $170.00 price target on shares of Air Products and Chemicals in a research note on Friday, August 4th. Deutsche Bank AG upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and raised their price target for the stock from $148.00 to $160.00 in a research note on Monday, May 1st. Zacks Investment Research upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $152.00 price target on the stock in a research note on Tuesday, April 18th. Vertical Research upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating and set a $146.00 price target on the stock in a research note on Monday, August 7th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $155.00 price target on shares of Air Products and Chemicals in a research note on Tuesday, May 2nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. Air Products and Chemicals has a consensus 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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Institutional Ownership by Quarter for Air Products and Chemicals (NYSE:APD)

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