Great West Life Assurance Co. Can reduced its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 1.7% during the second quarter, Holdings Channel reports. The firm owned 155,599 shares of the basic materials company’s stock after selling 2,709 shares during the period. Great West Life Assurance Co. Can’s holdings in Air Products and Chemicals were worth $22,239,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Bancorpsouth Inc. increased its position in Air Products and Chemicals by 4.1% in the first quarter. Bancorpsouth Inc. now owns 17,154 shares of the basic materials company’s stock worth $2,321,000 after buying an additional 683 shares during the period. Schwab Charles Investment Management Inc. increased its position in Air Products and Chemicals by 5.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 660,649 shares of the basic materials company’s stock worth $89,380,000 after buying an additional 32,456 shares during the period. Richard C. Young & CO. LTD. increased its position in Air Products and Chemicals by 40.6% in the first quarter. Richard C. Young & CO. LTD. now owns 10,933 shares of the basic materials company’s stock worth $1,479,000 after buying an additional 3,156 shares during the period. World Asset Management Inc increased its position in Air Products and Chemicals by 15.3% in the first quarter. World Asset Management Inc now owns 25,607 shares of the basic materials company’s stock worth $3,464,000 after buying an additional 3,390 shares during the period. Finally, Engineers Gate Manager LP bought a new position in Air Products and Chemicals during the first quarter worth approximately $419,000. 88.92% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Air Products and Chemicals, Inc. (APD) opened at 145.02 on Friday. Air Products and Chemicals, Inc. has a 1-year low of $129.00 and a 1-year high of $150.45. The stock has a 50 day moving average of $144.80 and a 200 day moving average of $141.91. The firm has a market cap of $31.61 billion, a PE ratio of 10.89 and a beta of 1.25.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Tuesday, August 1st. The basic materials company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.06. Air Products and Chemicals had a net margin of 34.63% and a return on equity of 17.23%. The firm had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the previous year, the firm earned $1.92 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities research analysts anticipate that Air Products and Chemicals, Inc. will post $6.23 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Tuesday, October 10th will be paid a dividend of $0.95 per share. The ex-dividend date is Friday, October 6th. This represents a $3.80 annualized dividend and a yield of 2.62%. Air Products and Chemicals’s payout ratio is 28.51%.

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APD has been the topic of a number of recent analyst reports. Deutsche Bank AG raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and increased their target price for the company from $148.00 to $160.00 in a research report on Monday, May 1st. Zacks Investment Research raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $152.00 price objective on the stock in a research report on Tuesday, April 18th. Credit Suisse Group reissued an “outperform” rating and set a $158.00 price objective (up from $153.00) on shares of Air Products and Chemicals in a research report on Wednesday, August 2nd. Vertical Research raised shares of Air Products and Chemicals from a “sell” rating to a “hold” rating and set a $146.00 price objective on the stock in a research report on Monday. Finally, Jefferies Group LLC reissued a “hold” rating and set a $155.00 price objective on shares of Air Products and Chemicals in a research report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $153.29.

About Air Products and Chemicals

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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