Parametric Portfolio Associates LLC Raises Position in Air Products & Chemicals, Inc. (APD)

Parametric Portfolio Associates LLC increased its position in Air Products & Chemicals, Inc. (NYSE:APD) by 4.9% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 691,528 shares of the basic materials company’s stock after buying an additional 32,202 shares during the period. Parametric Portfolio Associates LLC’s holdings in Air Products & Chemicals were worth $132,054,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Field & Main Bank purchased a new position in Air Products & Chemicals in the first quarter valued at about $27,000. Athena Capital Advisors LLC purchased a new position in Air Products & Chemicals in the fourth quarter valued at about $28,000. Old North State Trust LLC raised its position in Air Products & Chemicals by 376.1% in the fourth quarter. Old North State Trust LLC now owns 219 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 173 shares during the period. Pinnacle Bank purchased a new position in Air Products & Chemicals in the fourth quarter valued at about $38,000. Finally, Transamerica Financial Advisors Inc. raised its position in Air Products & Chemicals by 617.6% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 244 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 210 shares during the period. 87.12% of the stock is currently owned by institutional investors and hedge funds.

Shares of Air Products & Chemicals stock traded up $0.28 during trading hours on Friday, hitting $204.49. 775,961 shares of the company’s stock traded hands, compared to its average volume of 1,166,333. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.36 and a quick ratio of 2.16. The company has a market capitalization of $45.01 billion, a PE ratio of 27.45, a P/E/G ratio of 2.14 and a beta of 0.83. Air Products & Chemicals, Inc. has a twelve month low of $148.44 and a twelve month high of $210.15.

Air Products & Chemicals (NYSE:APD) last announced its earnings results on Wednesday, April 24th. The basic materials company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.04. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.23 billion. Air Products & Chemicals had a return on equity of 15.28% and a net margin of 18.90%. The company’s revenue was up 1.5% on a year-over-year basis. During the same period last year, the firm earned $1.71 earnings per share. On average, equities analysts expect that Air Products & Chemicals, Inc. will post 8.22 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Stockholders of record on Monday, July 1st will be paid a dividend of $1.16 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $4.64 annualized dividend and a dividend yield of 2.27%. Air Products & Chemicals’s dividend payout ratio is presently 62.28%.

Several research firms have commented on APD. BMO Capital Markets raised their price objective on Air Products & Chemicals to $235.00 and gave the company an “outperform” rating in a research report on Monday, May 13th. Barclays raised their price objective on Air Products & Chemicals from $184.00 to $220.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. JPMorgan Chase & Co. raised their price objective on Air Products & Chemicals from $167.00 to $207.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Bank of America raised Air Products & Chemicals from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $170.00 to $215.00 in a research report on Thursday, April 25th. Finally, Deutsche Bank raised their price objective on Air Products & Chemicals from $182.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company’s stock. Air Products & Chemicals presently has an average rating of “Buy” and an average price target of $211.50.

In other news, VP Russell A. Flugel sold 2,970 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $207.01, for a total transaction of $614,819.70. Following the completion of the sale, the vice president now directly owns 6,387 shares in the company, valued at $1,322,172.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.35% of the stock is owned by company 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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