Baldwin Investment Management LLC purchased a new position in Air Products & Chemicals, Inc. (NYSE:APD) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,800 shares of the basic materials company’s stock, valued at approximately $436,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Grandfield & Dodd LLC grew its position in Air Products & Chemicals by 0.5% in the second quarter. Grandfield & Dodd LLC now owns 97,860 shares of the basic materials company’s stock worth $15,240,000 after acquiring an additional 500 shares in the last quarter. Sei Investments Co. grew its position in Air Products & Chemicals by 2,338.9% in the second quarter. Sei Investments Co. now owns 112,993 shares of the basic materials company’s stock worth $17,596,000 after acquiring an additional 108,360 shares in the last quarter. Riverhead Capital Management LLC grew its position in Air Products & Chemicals by 28.2% in the second quarter. Riverhead Capital Management LLC now owns 11,775 shares of the basic materials company’s stock worth $1,834,000 after acquiring an additional 2,587 shares in the last quarter. Boltwood Capital Management purchased a new position in Air Products & Chemicals in the second quarter worth about $259,000. Finally, Park National Corp OH grew its position in Air Products & Chemicals by 6.5% in the second quarter. Park National Corp OH now owns 97,408 shares of the basic materials company’s stock worth $15,169,000 after acquiring an additional 5,969 shares in the last quarter. Institutional investors own 86.08% of the company’s stock.

Several research analysts recently commented on the company. Vertical Research upgraded Air Products & Chemicals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 29th. BMO Capital Markets lifted their price target on Air Products & Chemicals from $197.00 to $202.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 14th. Deutsche Bank lifted their price target on Air Products & Chemicals from $190.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, August 14th. Susquehanna Bancshares lifted their price target on Air Products & Chemicals from $200.00 to $215.00 and gave the stock a “positive” rating in a research report on Wednesday, August 1st. Finally, Zacks Investment Research upgraded Air Products & Chemicals from a “sell” rating to a “hold” rating and set a $181.00 price target for the company in a research report on Monday, July 30th. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $185.69.

Shares of NYSE:APD opened at $166.24 on Thursday. Air Products & Chemicals, Inc. has a 1 year low of $148.52 and a 1 year high of $175.17. The company has a market cap of $36.15 billion, a price-to-earnings ratio of 26.35, a price-to-earnings-growth ratio of 1.37 and a beta of 1.06. The company has a quick ratio of 2.24, a current ratio of 2.40 and a debt-to-equity ratio of 0.35.

Air Products & Chemicals (NYSE:APD) last announced its earnings results on Thursday, July 26th. The basic materials company reported $1.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.84 by $0.11. Air Products & Chemicals had a return on equity of 15.15% and a net margin of 17.13%. The business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the previous year, the business earned $1.65 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. analysts anticipate that Air Products & Chemicals, Inc. will post 7.45 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 12th. Shareholders of record on Monday, October 1st will be given a dividend of $1.10 per share. The ex-dividend date is Friday, September 28th. This represents a $4.40 annualized dividend and a dividend yield of 2.65%. Air Products & Chemicals’s dividend payout ratio (DPR) is presently 69.73%.

About Air Products & Chemicals

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, electronics and performance materials, equipment, and services worldwide. The company produces atmospheric gases, including 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 or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including metals, glass, chemical processing, electronics, energy production and refining, food processing, metallurgical, medical, and general manufacturing.

Further Reading: Book Value Of Equity Per Share – BVPS Explained

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

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