DekaBank Deutsche Girozentrale reduced its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 3.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,179 shares of the basic materials company’s stock after selling 1,536 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Air Products and Chemicals were worth $6,238,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Air Products and Chemicals by 5.5% in the first quarter. Vanguard Group Inc. now owns 16,888,770 shares of the basic materials company’s stock valued at $2,284,882,000 after buying an additional 887,369 shares in the last quarter. BlackRock Inc. raised its position in shares of Air Products and Chemicals by 1,973.1% in the first quarter. BlackRock Inc. now owns 14,149,340 shares of the basic materials company’s stock valued at $1,914,263,000 after buying an additional 13,466,808 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Air Products and Chemicals by 6.8% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 9,651,446 shares of the basic materials company’s stock valued at $1,305,744,000 after buying an additional 611,672 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Air Products and Chemicals by 3.7% in the first quarter. Principal Financial Group Inc. now owns 3,121,508 shares of the basic materials company’s stock valued at $422,309,000 after buying an additional 110,064 shares in the last quarter. Finally, Janus Capital Management LLC raised its position in shares of Air Products and Chemicals by 1.6% in the first quarter. Janus Capital Management LLC now owns 1,971,732 shares of the basic materials company’s stock valued at $266,746,000 after buying an additional 30,164 shares in the last quarter. 88.75% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals, Inc. (NYSE APD) opened at 145.76 on Friday. The stock has a market capitalization of $31.77 billion, a P/E ratio of 10.95 and a beta of 1.25. 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 price of $145.17 and a 200-day moving average price of $141.94.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $1.65 earnings per share for the quarter, topping 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 the consensus estimate of $2.06 billion. During the same quarter in the prior year, the firm earned $1.92 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Equities research analysts expect that Air Products and Chemicals, Inc. will post $6.23 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Tuesday, October 10th will be given a dividend of $0.95 per share. The ex-dividend date is Friday, October 6th. This represents a $3.80 annualized dividend and a dividend yield of 2.61%. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 28.51%.

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Several analysts recently weighed in on APD shares. Credit Suisse Group restated an “outperform” rating and issued a $158.00 price target (up previously from $153.00) on shares of Air Products and Chemicals in a research note on Wednesday, August 2nd. Deutsche Bank AG upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and upped their price target for the stock from $148.00 to $160.00 in a research note on Monday, May 1st. Barclays PLC restated a “buy” rating and issued a $170.00 price target on shares of Air Products and Chemicals in a research note on Friday, August 4th. BidaskClub downgraded Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Finally, Vertical Research upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating and set a $146.00 price target on the stock in a research note on Monday, August 7th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $152.77.

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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