Rand Wealth LLC increased its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 32.4% during the second quarter, Holdings Channel reports. The firm owned 46,208 shares of the basic materials company’s stock after buying an additional 11,296 shares during the period. Rand Wealth LLC’s holdings in Air Products and Chemicals were worth $6,611,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of APD. Macquarie Group Ltd. raised its position in Air Products and Chemicals by 75.7% in the fourth quarter. Macquarie Group Ltd. now owns 71,055 shares of the basic materials company’s stock valued at $10,219,000 after buying an additional 30,605 shares during the last quarter. Capstone Asset Management Co. raised its position in Air Products and Chemicals by 11.2% in the first quarter. Capstone Asset Management Co. now owns 25,945 shares of the basic materials company’s stock valued at $3,510,000 after buying an additional 2,616 shares during the last quarter. Parametrica Management Ltd acquired a new position in Air Products and Chemicals during the first quarter valued at about $204,000. Baldwin Brothers Inc. MA raised its position in Air Products and Chemicals by 5.3% in the first quarter. Baldwin Brothers Inc. MA now owns 1,363 shares of the basic materials company’s stock valued at $184,000 after buying an additional 68 shares during the last quarter. Finally, Heritage Investors Management Corp raised its position in Air Products and Chemicals by 0.4% in the first quarter. Heritage Investors Management Corp now owns 63,078 shares of the basic materials company’s stock valued at $8,534,000 after buying an additional 231 shares during the last quarter. Institutional investors and hedge funds own 88.75% of the company’s stock.

Shares of Air Products and Chemicals, Inc. (NYSE:APD) opened at 146.64 on Tuesday. Air Products and Chemicals, Inc. has a 12-month low of $129.00 and a 12-month high of $150.45. The company has a market capitalization of $31.96 billion, a P/E ratio of 11.02 and a beta of 1.25. The stock has a 50 day moving average of $144.86 and a 200-day moving average of $141.80.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $1.65 earnings per share for the quarter, topping 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 firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same period last year, the firm posted $1.92 earnings per share. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Equities research analysts forecast that Air Products and Chemicals, Inc. will post $6.23 EPS for the current 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 paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Friday, October 6th. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 28.51%.

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Several brokerages recently weighed in on APD. Credit Suisse Group reissued an “outperform” rating and set a $158.00 price target (up previously from $153.00) on shares of Air Products and Chemicals in a research report on Wednesday, August 2nd. Deutsche Bank AG raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and raised their price target for the company from $148.00 to $160.00 in a research report on Monday, May 1st. Barclays PLC reissued a “buy” rating and set a $170.00 price target on shares of Air Products and Chemicals in a research report on Friday, August 4th. BidaskClub downgraded shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Finally, Vertical Research raised shares of Air Products and Chemicals from a “sell” rating to a “hold” rating and set a $146.00 price target for the company in a research report on Monday, August 7th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. Air Products and Chemicals presently has an average rating of “Hold” and an average target price 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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Institutional Ownership by Quarter for Air Products and Chemicals (NYSE:APD)

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