TD Asset Management Inc. Has $43.75 Million Stake in Air Products & Chemicals, Inc. (APD)

TD Asset Management Inc. lifted its position in Air Products & Chemicals, Inc. (NYSE:APD) by 10.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 229,082 shares of the basic materials company’s stock after acquiring an additional 22,475 shares during the period. TD Asset Management Inc.’s holdings in Air Products & Chemicals were worth $43,746,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. TIAA CREF Investment Management LLC grew its position in shares of Air Products & Chemicals by 1.7% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 678,846 shares of the basic materials company’s stock valued at $113,401,000 after acquiring an additional 11,632 shares during the period. Morgan Stanley boosted its holdings in Air Products & Chemicals by 22.0% in the 3rd quarter. Morgan Stanley now owns 854,110 shares of the basic materials company’s stock worth $142,680,000 after buying an additional 154,103 shares during the last quarter. Federated Investors Inc. PA boosted its holdings in Air Products & Chemicals by 290.5% in the 3rd quarter. Federated Investors Inc. PA now owns 43,029 shares of the basic materials company’s stock worth $7,188,000 after buying an additional 32,011 shares during the last quarter. Vanguard Group Inc boosted its holdings in Air Products & Chemicals by 1.3% in the 3rd quarter. Vanguard Group Inc now owns 18,589,029 shares of the basic materials company’s stock worth $3,105,298,000 after buying an additional 238,723 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in Air Products & Chemicals in the 4th quarter worth about $522,000. 87.41% of the stock is currently owned by institutional investors and hedge funds.

APD has been the topic of several research analyst reports. KeyCorp lifted their price objective on Air Products & Chemicals from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. JPMorgan Chase & Co. boosted their target price on Air Products & Chemicals from $167.00 to $207.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Bank of America upgraded Air Products & Chemicals from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $170.00 to $215.00 in a report on Thursday, April 25th. Deutsche Bank boosted their target price on Air Products & Chemicals from $182.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Finally, Credit Suisse Group boosted their target price on Air Products & Chemicals from $188.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $211.50.

Shares of Air Products & Chemicals stock traded down $0.01 on Wednesday, hitting $206.97. 17,704 shares of the company were exchanged, compared to its average volume of 1,173,966. The stock has a market cap of $46.21 billion, a P/E ratio of 27.77, a P/E/G ratio of 2.17 and a beta of 0.83. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.36 and a quick ratio of 2.16. Air Products & Chemicals, Inc. has a 1-year low of $148.44 and a 1-year high of $210.15.

Air Products & Chemicals (NYSE:APD) last released its quarterly earnings results on Wednesday, April 24th. The basic materials company reported $1.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.88 by $0.04. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.23 billion. Air Products & Chemicals had a net margin of 18.90% and a return on equity of 15.28%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.71 EPS. As a group, research analysts expect that Air Products & Chemicals, Inc. will post 8.22 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 12th. Stockholders of record on Monday, July 1st will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Friday, June 28th. Air Products & Chemicals’s payout ratio is presently 62.28%.

In other news, VP Russell A. Flugel sold 2,970 shares of Air Products & Chemicals stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $207.01, for a total transaction of $614,819.70. Following the sale, the vice president now owns 6,387 shares of the company’s stock, valued at approximately $1,322,172.87. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.35% of the stock is currently owned by insiders.

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About Air Products & Chemicals

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, 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 refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.

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

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