Empirical Finance LLC Has $753,000 Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Empirical Finance LLC grew its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 17.6% in the second quarter, HoldingsChannel reports. The fund owned 2,618 shares of the basic materials company’s stock after acquiring an additional 391 shares during the period. Empirical Finance LLC’s holdings in Air Products and Chemicals were worth $753,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Gofen & Glossberg LLC IL boosted its position in Air Products and Chemicals by 11.3% during the 2nd quarter. Gofen & Glossberg LLC IL now owns 80,515 shares of the basic materials company’s stock worth $23,162,000 after acquiring an additional 8,172 shares during the last quarter. NFJ Investment Group LLC acquired a new position in Air Products and Chemicals during the 1st quarter worth approximately $1,857,000. Point72 Asset Management L.P. boosted its position in Air Products and Chemicals by 434.9% during the 1st quarter. Point72 Asset Management L.P. now owns 96,825 shares of the basic materials company’s stock worth $27,241,000 after acquiring an additional 78,725 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Air Products and Chemicals by 55.5% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 5,042 shares of the basic materials company’s stock worth $1,450,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Voloridge Investment Management LLC boosted its position in Air Products and Chemicals by 53.1% during the 1st quarter. Voloridge Investment Management LLC now owns 319,918 shares of the basic materials company’s stock worth $90,006,000 after acquiring an additional 110,944 shares during the last quarter. 80.23% of the stock is owned by hedge funds and other institutional investors.

NYSE:APD opened at $268.86 on Wednesday. The stock’s 50-day simple moving average is $279.46 and its 200 day simple moving average is $285.04. The firm has a market capitalization of $59.52 billion, a PE ratio of 30.24, a price-to-earnings-growth ratio of 2.83 and a beta of 0.74. The company has a quick ratio of 2.94, a current ratio of 3.11 and a debt-to-equity ratio of 0.53. Air Products and Chemicals, Inc. has a twelve month low of $245.75 and a twelve month high of $327.89.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings data on Sunday, August 8th. The basic materials company reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.05). Air Products and Chemicals had a net margin of 20.15% and a return on equity of 14.84%. The business had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same period last year, the business earned $2.01 earnings per share. The business’s quarterly revenue was up 26.1% compared to the same quarter last year. On average, analysts anticipate that Air Products and Chemicals, Inc. will post 9.01 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 8th. Investors of record on Friday, October 1st will be issued a $1.50 dividend. The ex-dividend date is Thursday, September 30th. This represents a $6.00 dividend on an annualized basis and a yield of 2.23%. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 71.60%.

A number of research firms have weighed in on APD. Societe Generale upped their price target on Air Products and Chemicals from $295.00 to $334.00 and gave the stock a “buy” rating in a research report on Tuesday, June 22nd. Cowen dropped their price objective on Air Products and Chemicals from $360.00 to $335.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 10th. Wolfe Research started coverage on Air Products and Chemicals in a research note on Wednesday, June 9th. They set an “outperform” rating on the stock. HSBC dropped their price target on Air Products and Chemicals from $275.00 to $269.00 and set a “hold” rating on the stock in a research note on Thursday, June 3rd. Finally, Susquehanna Bancshares upgraded Air Products and Chemicals to a “positive” rating and increased their price target for the company from $240.00 to $350.00 in a research note on Friday, June 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Air Products and Chemicals presently has a consensus rating of “Buy” and an average target price of $313.24.

Air Products and Chemicals Company Profile

Air Products & Chemicals, Inc engages in the manufacture and distribution of atmospheric gases. It operates through the following segments: Industrial Gases-Americas, Industrial Gases-EMEA (Europe, Middle East, and Africa), Industrial Gases-Asia, Industrial Gases-Global and Corporate and Other. The Industrial Gases-America, EMEA and Asia segment markets and produces atmospheric gases such as 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 and processing of gases such as air separation units and non-cryogenic generators.

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

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