Cohen Lawrence B reduced its holdings in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 5.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 8,588 shares of the basic materials company’s stock after selling 539 shares during the period. Cohen Lawrence B’s holdings in Air Products & Chemicals were worth $1,409,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of APD. Findlay Park Partners LLP purchased a new position in Air Products & Chemicals during the 3rd quarter valued at about $362,928,000. First Eagle Investment Management LLC lifted its position in Air Products & Chemicals by 80.2% during the 3rd quarter. First Eagle Investment Management LLC now owns 2,313,812 shares of the basic materials company’s stock valued at $349,895,000 after acquiring an additional 1,029,451 shares during the period. Prudential Financial Inc. lifted its position in Air Products & Chemicals by 239.8% during the 3rd quarter. Prudential Financial Inc. now owns 1,071,131 shares of the basic materials company’s stock valued at $161,977,000 after acquiring an additional 755,930 shares during the period. Principal Financial Group Inc. lifted its position in Air Products & Chemicals by 17.6% during the 3rd quarter. Principal Financial Group Inc. now owns 4,165,311 shares of the basic materials company’s stock valued at $629,878,000 after acquiring an additional 624,210 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its position in Air Products & Chemicals by 14,720.5% during the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 413,046 shares of the basic materials company’s stock valued at $62,461,000 after acquiring an additional 410,259 shares during the period. 88.01% of the stock is owned by institutional investors.

Air Products & Chemicals, Inc. (APD) opened at $152.80 on Friday. The company has a current ratio of 2.92, a quick ratio of 2.73 and a debt-to-equity ratio of 0.33. Air Products & Chemicals, Inc. has a twelve month low of $133.63 and a twelve month high of $175.17. The firm has a market cap of $34,638.39, a P/E ratio of 23.86, a PEG ratio of 1.54 and a beta of 1.22.

Air Products & Chemicals (NYSE:APD) last released its quarterly earnings data on Friday, January 26th. The basic materials company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.13. Air Products & Chemicals had a net margin of 33.51% and a return on equity of 14.80%. The firm had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.12 billion. During the same period in the previous year, the company earned $1.47 earnings per share. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. analysts anticipate that Air Products & Chemicals, Inc. will post 7.32 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 14th. Stockholders of record on Monday, April 2nd will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 2.88%. This is a boost from Air Products & Chemicals’s previous quarterly dividend of $0.95. The ex-dividend date is Thursday, March 29th. Air Products & Chemicals’s payout ratio is presently 29.25%.

APD has been the subject of several recent analyst reports. Citigroup lifted their target price on shares of Air Products & Chemicals from $172.30 to $185.00 and gave the stock a “buy” rating in a report on Friday, October 27th. SunTrust Banks reaffirmed a “buy” rating and issued a $175.00 target price on shares of Air Products & Chemicals in a report on Friday, October 27th. Barclays lifted their target price on shares of Air Products & Chemicals from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, October 27th. Credit Suisse Group lifted their target price on shares of Air Products & Chemicals from $158.00 to $173.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Finally, UBS Group lifted their target price on shares of Air Products & Chemicals from $162.00 to $172.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $175.38.

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Air Products & Chemicals Profile

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 & Chemicals (NYSE:APD)

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