Bahl & Gaynor Inc. lessened its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 16.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 460,504 shares of the basic materials company’s stock after selling 90,745 shares during the period. Bahl & Gaynor Inc. owned 0.21% of Air Products and Chemicals worth $66,230,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Bancorpsouth Inc. grew its position in shares of Air Products and Chemicals by 4.1% during the 1st quarter. Bancorpsouth Inc. now owns 17,154 shares of the basic materials company’s stock valued at $2,321,000 after buying an additional 683 shares during the last quarter. Utah Retirement Systems grew its position in Air Products and Chemicals by 9.2% in the 2nd quarter. Utah Retirement Systems now owns 39,143 shares of the basic materials company’s stock worth $5,600,000 after purchasing an additional 3,300 shares during the last quarter. Good Life Advisors LLC bought a new position in Air Products and Chemicals in the 2nd quarter worth about $217,000. Sage Capital Advisors llc bought a new position in Air Products and Chemicals in the 2nd quarter worth about $718,000. Finally, Schwab Charles Investment Management Inc. grew its position in Air Products and Chemicals by 5.2% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 660,649 shares of the basic materials company’s stock worth $89,380,000 after purchasing an additional 32,456 shares during the last quarter. 88.08% of the stock is owned by institutional investors and hedge funds.

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Several research analysts have commented on APD shares. Argus upped their target price on shares of Air Products and Chemicals from $159.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, August 28th. BidaskClub cut shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Jefferies Group LLC restated a “hold” rating and issued a $155.00 target price on shares of Air Products and Chemicals in a research report on Friday, July 14th. Credit Suisse Group restated an “outperform” rating and issued a $158.00 target price (up previously from $153.00) on shares of Air Products and Chemicals in a research report on Wednesday, August 2nd. Finally, Vertical Research upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating and set a $146.00 target price for the company in a research report on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Air Products and Chemicals currently has an average rating of “Hold” and a consensus price target of $153.93.

Air Products and Chemicals, Inc. (NYSE APD) traded up 0.32% during mid-day trading on Thursday, reaching $149.67. 488,117 shares of the company traded hands. Air Products and Chemicals, Inc. has a one year low of $129.00 and a one year high of $151.42. The firm has a market cap of $32.62 billion, a PE ratio of 11.24 and a beta of 1.25. The stock’s 50-day moving average price is $145.81 and its 200-day moving average price is $142.60.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data 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. The firm had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Air Products and Chemicals had a net margin of 34.63% and a return on equity of 17.23%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.92 EPS. Analysts forecast that Air Products and Chemicals, Inc. will post $6.23 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Tuesday, October 10th will be given a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Friday, October 6th. Air Products and Chemicals’s payout ratio is presently 28.51%.

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.

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

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