BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its stake in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 28.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 66,897 shares of the basic materials company’s stock after selling 27,204 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Air Products & Chemicals were worth $11,175,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in APD. Honkamp Krueger Financial Services Inc. acquired a new position in shares of Air Products & Chemicals in the 3rd quarter worth approximately $116,000. Braun Bostich & Associates Inc. boosted its holdings in shares of Air Products & Chemicals by 542.6% in the 2nd quarter. Braun Bostich & Associates Inc. now owns 739 shares of the basic materials company’s stock worth $115,000 after acquiring an additional 624 shares in the last quarter. NuWave Investment Management LLC boosted its holdings in shares of Air Products & Chemicals by 8,770.0% in the 3rd quarter. NuWave Investment Management LLC now owns 887 shares of the basic materials company’s stock worth $148,000 after acquiring an additional 877 shares in the last quarter. Douglass Winthrop Advisors LLC acquired a new position in shares of Air Products & Chemicals in the 3rd quarter worth approximately $200,000. Finally, Perigon Wealth Management LLC acquired a new position in shares of Air Products & Chemicals in the 3rd quarter worth approximately $202,000. 86.29% of the stock is currently owned by institutional investors.

Several research analysts have recently commented on the company. Citigroup reduced their target price on Air Products & Chemicals from $200.00 to $181.00 and set a “buy” rating on the stock in a report on Tuesday, November 13th. BMO Capital Markets upped their price objective on Air Products & Chemicals from $197.00 to $202.00 and gave the stock an “outperform” rating in a report on Tuesday, August 14th. Deutsche Bank upped their price objective on Air Products & Chemicals from $190.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday, August 14th. Sanford C. Bernstein assumed coverage on Air Products & Chemicals in a report on Monday, September 24th. They set an “outperform” rating and a $202.00 price objective on the stock. Finally, Vertical Research raised Air Products & Chemicals from a “hold” rating to a “buy” rating in a report on Wednesday, August 29th. Fifteen investment analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus target price of $190.08.

In other Air Products & Chemicals news, Chairman Seifi Ghasemi bought 20,000 shares of the company’s stock in a transaction on Monday, November 12th. The stock was bought at an average price of $160.11 per share, for a total transaction of $3,202,200.00. Following the transaction, the chairman now owns 408,652 shares of the company’s stock, valued at approximately $65,429,271.72. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.37% of the company’s stock.

NYSE:APD opened at $163.92 on Thursday. Air Products & Chemicals, Inc. has a 52-week low of $148.44 and a 52-week high of $175.17. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.00 and a current ratio of 2.17. The firm has a market cap of $35.99 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 1.70 and a beta of 1.10.

Air Products & Chemicals (NYSE:APD) last posted its quarterly earnings data on Tuesday, November 6th. The basic materials company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.01. Air Products & Chemicals had a return on equity of 15.30% and a net margin of 16.77%. The firm had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the business earned $1.76 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, analysts expect that Air Products & Chemicals, Inc. will post 8.19 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 11th. Shareholders of record on Wednesday, January 2nd will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.68%. The ex-dividend date is Monday, December 31st. Air Products & Chemicals’s dividend payout ratio is 59.06%.

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Air Products & Chemicals Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, electronics and performance materials, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including metals, glass, chemical processing, electronics, energy production and refining, food processing, metallurgical, medical, and general manufacturing.

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Institutional Ownership by Quarter for Air Products & Chemicals (NYSE:APD)

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