Sage Capital Advisors llc bought a new position in shares of Air Products and Chemicals, Inc. (NYSE:APD) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 5,022 shares of the basic materials company’s stock, valued at approximately $718,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. iAB Financial Bank acquired a new position in Air Products and Chemicals during the first quarter worth about $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 in the last quarter. State of Alaska Department of Revenue acquired 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 in the last quarter. 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 in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Shares of Air Products and Chemicals, Inc. (NYSE:APD) opened at 145.37 on Wednesday. The company has a market capitalization of $31.68 billion, a PE ratio of 10.92 and a beta of 1.25. Air Products and Chemicals, Inc. has a 12-month low of $129.00 and a 12-month high of $150.45. The stock’s 50 day moving average price is $145.45 and its 200 day moving average price is $142.15.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings data 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 business had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the prior year, the business posted $1.92 earnings per share. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, equities research analysts forecast that Air Products and Chemicals, Inc. will post $6.23 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Tuesday, October 10th will be given a dividend of $0.95 per share. 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 2.61%. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 28.51%.

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A number of research firms have issued reports on APD. Deutsche Bank AG lifted their target price on Air Products and Chemicals from $160.00 to $168.00 and gave the company a “hold” rating in a research report on Wednesday, August 2nd. Jefferies Group LLC reiterated a “hold” rating and issued a $155.00 target price on shares of Air Products and Chemicals in a research report on Friday, July 14th. Argus lifted their target price on Air Products and Chemicals from $159.00 to $165.00 and gave the company a “buy” rating in a research report on Monday. Vertical Research upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating and set a $146.00 target price on the stock in a research report on Monday, August 7th. Finally, BidaskClub cut Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $153.23.

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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