Reliance Trust Co. of Delaware decreased its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 5.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,864 shares of the basic materials company’s stock after selling 340 shares during the period. Reliance Trust Co. of Delaware’s holdings in Air Products and Chemicals were worth $839,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Air Products and Chemicals by 1,973.1% in the first quarter. BlackRock Inc. now owns 14,149,340 shares of the basic materials company’s stock valued at $1,914,263,000 after buying an additional 13,466,808 shares during the period. First Eagle Investment Management LLC raised its position in Air Products and Chemicals by 243.2% in the first quarter. First Eagle Investment Management LLC now owns 1,789,910 shares of the basic materials company’s stock valued at $242,157,000 after buying an additional 1,268,305 shares during the period. Vanguard Group Inc. raised its position in Air Products and Chemicals by 5.5% in the first quarter. Vanguard Group Inc. now owns 16,888,770 shares of the basic materials company’s stock valued at $2,284,882,000 after buying an additional 887,369 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its position in Air Products and Chemicals by 6.8% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 9,651,446 shares of the basic materials company’s stock valued at $1,305,744,000 after buying an additional 611,672 shares during the period. Finally, Cibc World Markets Corp raised its position in Air Products and Chemicals by 59.3% in the first quarter. Cibc World Markets Corp now owns 1,524,806 shares of the basic materials company’s stock valued at $206,291,000 after buying an additional 567,786 shares during the period. 88.92% of the stock is currently owned by institutional investors.

Air Products and Chemicals, Inc. (NYSE:APD) opened at 146.25 on Thursday. The firm 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 52 week low of $129.00 and a 52 week high of $150.45. The stock has a market capitalization of $31.88 billion, a P/E ratio of 10.99 and a beta of 1.25.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.06. The firm had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.06 billion. Air Products and Chemicals had a return on equity of 17.23% and a net margin of 34.63%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period last year, the company posted $1.92 EPS. Equities research analysts predict that Air Products and Chemicals, Inc. will post $6.23 earnings per share for the current year.

The company also recently declared 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 2.60%. The ex-dividend date is Friday, October 6th. Air Products and Chemicals’s payout ratio is currently 28.51%.

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Several research analysts have commented on APD shares. Deutsche Bank AG raised Air Products and Chemicals from a “hold” rating to a “buy” rating and lifted their price target for the stock from $148.00 to $160.00 in a research report on Monday, May 1st. Zacks Investment Research lowered Air Products and Chemicals from a “buy” rating to a “hold” rating in a research report on Monday, May 1st. BidaskClub lowered Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Jefferies Group LLC reaffirmed a “hold” rating and set a $155.00 price target on shares of Air Products and Chemicals in a research report on Tuesday, May 2nd. Finally, Vertical Research raised 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 report on Monday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $153.29.

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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