Sumitomo Life Insurance Co. raised its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 4.4% during the second quarter, Holdings Channel reports. The fund owned 11,587 shares of the basic materials company’s stock after buying an additional 488 shares during the period. Sumitomo Life Insurance Co.’s holdings in Air Products and Chemicals were worth $1,658,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. iAB Financial Bank acquired a new stake in shares of Air Products and Chemicals during the first quarter valued at approximately $100,000. Patten Group Inc. boosted its position 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 period. State of Alaska Department of Revenue purchased a new position in Air Products and Chemicals during the first quarter worth about $109,000. Guardian Life Insurance Co. of America boosted its position 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 period. Finally, Webster Bank N. A. boosted its position 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 period. 88.92% of the stock is currently owned by institutional investors and hedge funds.

Air Products and Chemicals, Inc. (APD) opened at 146.25 on Thursday. The company has a market cap of $31.88 billion, a PE ratio of 10.99 and a beta of 1.25. The stock has a 50 day moving average price of $144.76 and a 200 day moving average price of $141.89. Air Products and Chemicals, Inc. has a one year low of $129.00 and a one year high of $150.45.

Air Products and Chemicals (NYSE:APD) last posted its earnings results on Tuesday, August 1st. The basic materials company reported $1.65 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the prior year, the business posted $1.92 EPS. The firm’s revenue was up 10.8% compared to the same quarter last year. On average, equities analysts anticipate that Air Products and Chemicals, Inc. will post $6.23 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Tuesday, October 10th will be issued a $0.95 dividend. The ex-dividend date of this dividend is Friday, October 6th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.60%. Air Products and Chemicals’s dividend payout ratio is presently 28.51%.

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A number of equities analysts have issued reports on APD shares. Barclays PLC reiterated a “buy” rating and set a $170.00 target price on shares of Air Products and Chemicals in a report on Friday, August 4th. Deutsche Bank AG upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and increased their target price for the stock from $148.00 to $160.00 in a report 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 target price for the company in a report on Tuesday, April 18th. Vertical Research upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating and set a $146.00 target price for the company in a report on Monday. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $155.00 target price on shares of Air Products and Chemicals in a report on Tuesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $153.29.

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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