Nissay Asset Management Corp Japan ADV raised its holdings in Air Products & Chemicals, Inc. (NYSE:APD) by 7.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,585 shares of the basic materials company’s stock after purchasing an additional 2,203 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Air Products & Chemicals were worth $4,763,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in APD. FDx Advisors Inc. boosted its holdings in Air Products & Chemicals by 24.7% in the 1st quarter. FDx Advisors Inc. now owns 5,388 shares of the basic materials company’s stock valued at $857,000 after purchasing an additional 1,066 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Air Products & Chemicals by 19.9% in the 1st quarter. Daiwa Securities Group Inc. now owns 7,999 shares of the basic materials company’s stock valued at $1,272,000 after purchasing an additional 1,326 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its holdings in Air Products & Chemicals by 33.8% in the 1st quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 74,472 shares of the basic materials company’s stock valued at $11,730,000 after purchasing an additional 18,795 shares in the last quarter. Dupont Capital Management Corp boosted its holdings in Air Products & Chemicals by 84.6% in the 1st quarter. Dupont Capital Management Corp now owns 3,534 shares of the basic materials company’s stock valued at $562,000 after purchasing an additional 1,620 shares in the last quarter. Finally, Westport Asset Management Inc. boosted its holdings in Air Products & Chemicals by 125.0% in the 1st quarter. Westport Asset Management Inc. now owns 1,800 shares of the basic materials company’s stock valued at $286,000 after purchasing an additional 1,000 shares in the last quarter. 87.00% of the stock is currently owned by institutional investors.

APD stock opened at $166.61 on Friday. Air Products & Chemicals, Inc. has a 12-month low of $143.79 and a 12-month high of $175.17. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.40 and a quick ratio of 2.24. The company has a market cap of $34.62 billion, a PE ratio of 26.40, a P/E/G ratio of 1.31 and a beta of 1.09.

Air Products & Chemicals (NYSE:APD) last posted its quarterly earnings results on Thursday, July 26th. The basic materials company reported $1.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.11. Air Products & Chemicals had a net margin of 17.13% and a return on equity of 15.15%. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period last year, the firm earned $1.65 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. analysts forecast that Air Products & Chemicals, Inc. will post 7.45 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 12th. Investors of record on Monday, October 1st will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, September 28th. This represents a $4.40 annualized dividend and a dividend yield of 2.64%. Air Products & Chemicals’s dividend payout ratio is currently 69.73%.

APD has been the topic of a number of analyst reports. BMO Capital Markets reaffirmed a “buy” rating and issued a $197.00 price objective (up previously from $195.00) on shares of Air Products & Chemicals in a report on Friday, July 27th. Credit Suisse Group lifted their price objective on Air Products & Chemicals from $182.00 to $188.00 and gave the company a “buy” rating in a report on Friday, July 27th. Citigroup lifted their price target on shares of Air Products & Chemicals from $198.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, July 11th. Zacks Investment Research upgraded shares of Air Products & Chemicals from a “hold” rating to a “buy” rating and set a $174.00 price target for the company in a research report on Wednesday, June 27th. Finally, Deutsche Bank lifted their price target on shares of Air Products & Chemicals from $190.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Air Products & Chemicals has an average rating of “Buy” and a consensus price target of $183.47.

About Air Products & Chemicals

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.

Further Reading: NASDAQ Stock Market Explained

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

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