Dearborn Partners LLC Acquires 5,266 Shares of Air Products & Chemicals, Inc. (NYSE:APD)

Dearborn Partners LLC lifted its holdings in Air Products & Chemicals, Inc. (NYSE:APD) by 3.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 162,752 shares of the basic materials company’s stock after buying an additional 5,266 shares during the quarter. Air Products & Chemicals comprises 1.9% of Dearborn Partners LLC’s portfolio, making the stock its 12th biggest holding. Dearborn Partners LLC owned about 0.07% of Air Products & Chemicals worth $38,245,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Air Products & Chemicals by 2.8% in the second quarter. BlackRock Inc. now owns 16,830,640 shares of the basic materials company’s stock worth $3,809,950,000 after purchasing an additional 454,016 shares during the period. M&G Investment Management Ltd. acquired a new stake in Air Products & Chemicals in the fourth quarter worth about $76,067,000. Voloridge Investment Management LLC increased its position in Air Products & Chemicals by 3,218.3% in the third quarter. Voloridge Investment Management LLC now owns 115,279 shares of the basic materials company’s stock worth $25,576,000 after purchasing an additional 111,805 shares during the period. California Public Employees Retirement System increased its position in Air Products & Chemicals by 29.2% in the third quarter. California Public Employees Retirement System now owns 486,512 shares of the basic materials company’s stock worth $107,938,000 after purchasing an additional 110,071 shares during the period. Finally, TPG Group Holdings SBS Advisors Inc. increased its position in Air Products & Chemicals by 16.2% in the third quarter. TPG Group Holdings SBS Advisors Inc. now owns 394,824 shares of the basic materials company’s stock worth $87,596,000 after purchasing an additional 55,036 shares during the period. 83.61% of the stock is owned by institutional investors and hedge funds.

Air Products & Chemicals stock opened at $236.45 on Wednesday. The firm has a market capitalization of $53.79 billion, a P/E ratio of 28.70, a PEG ratio of 2.09 and a beta of 0.85. Air Products & Chemicals, Inc. has a 1 year low of $160.42 and a 1 year high of $244.61. The business has a 50-day moving average of $234.05 and a 200-day moving average of $226.78. The company has a current ratio of 2.59, a quick ratio of 2.37 and a debt-to-equity ratio of 0.27.

Air Products & Chemicals (NYSE:APD) last posted its earnings results on Friday, January 24th. The basic materials company reported $2.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.08 by $0.06. The company had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.29 billion. Air Products & Chemicals had a return on equity of 16.20% and a net margin of 21.10%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.86 EPS. Research analysts anticipate that Air Products & Chemicals, Inc. will post 9.49 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 11th. Stockholders of record on Wednesday, April 1st will be issued a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Tuesday, March 31st. This is a boost from Air Products & Chemicals’s previous quarterly dividend of $1.16. Air Products & Chemicals’s payout ratio is 56.52%.

A number of brokerages recently commented on APD. BMO Capital Markets lifted their price objective on Air Products & Chemicals from $271.00 to $275.00 and gave the stock an “outperform” rating in a research report on Monday. Wells Fargo & Co reiterated an “equal weight” rating and issued a $260.00 price objective (up from $250.00) on shares of Air Products & Chemicals in a research report on Monday. Deutsche Bank lifted their price objective on Air Products & Chemicals from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday. Berenberg Bank began coverage on Air Products & Chemicals in a research report on Tuesday, November 26th. They issued a “hold” rating and a $241.00 price objective for the company. Finally, Atlantic Securities began coverage on Air Products & Chemicals in a research report on Monday, November 18th. They issued a “neutral” rating and a $250.00 price objective for the company. Thirteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Air Products & Chemicals currently has an average rating of “Hold” and an average target price of $245.06.

Air Products & Chemicals Company Profile

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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