NGAM Advisors L.P. increased its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 10.8% during the second quarter, Holdings Channel reports. The institutional investor owned 11,578 shares of the basic materials company’s stock after buying an additional 1,133 shares during the period. NGAM Advisors L.P.’s holdings in Air Products and Chemicals were worth $1,656,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Sumitomo Life Insurance Co. raised its stake in shares of Air Products and Chemicals by 4.4% in the second quarter. Sumitomo Life Insurance Co. now owns 11,587 shares of the basic materials company’s stock valued at $1,658,000 after buying an additional 488 shares in the last quarter. Hanson & Doremus Investment Management raised its stake in shares of Air Products and Chemicals by 8.8% in the second quarter. Hanson & Doremus Investment Management now owns 931 shares of the basic materials company’s stock valued at $133,000 after buying an additional 75 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its position in shares of Air Products and Chemicals by 121.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 15,500 shares of the basic materials company’s stock worth $2,218,000 after buying an additional 8,490 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in shares of Air Products and Chemicals by 2.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 5,793 shares of the basic materials company’s stock worth $829,000 after buying an additional 130 shares during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Air Products and Chemicals during the second quarter worth approximately $1,446,000. 88.75% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Air Products and Chemicals, Inc. (APD) opened at 146.64 on Tuesday. The firm has a market capitalization of $31.96 billion, a price-to-earnings ratio of 11.02 and a beta of 1.25. The firm’s 50-day moving average price is $144.86 and its 200-day moving average price is $141.80. Air Products and Chemicals, Inc. has a 12 month low of $129.00 and a 12 month 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 (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.06 billion. During the same period in the previous year, the firm earned $1.92 earnings per share. The company’s revenue was up 10.8% on a year-over-year basis. On average, equities analysts anticipate that Air Products and Chemicals, Inc. will post $6.23 earnings per share for the current year.

The firm 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 $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 yield of 2.59%. Air Products and Chemicals’s payout ratio is 28.51%.

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APD has been the topic of a number of research analyst reports. Zacks Investment Research raised Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $152.00 price target on the stock in a report on Tuesday, April 18th. Deutsche Bank AG raised 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 report on Monday, May 1st. Jefferies Group LLC reissued a “hold” rating and set a $155.00 price target on shares of Air Products and Chemicals in a report on Tuesday, May 2nd. BidaskClub lowered Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Finally, Credit Suisse Group reissued an “outperform” rating and set a $158.00 price target (up from $153.00) on shares of Air Products and Chemicals in a report on Wednesday, August 2nd. 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’s stock. The company currently has a consensus rating of “Hold” and an average 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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