Eastern Bank Has $16.68 Million Stake in Air Products & Chemicals, Inc. (NYSE:APD)

Eastern Bank lifted its stake in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 76.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,342 shares of the basic materials company’s stock after purchasing an additional 37,844 shares during the quarter. Eastern Bank’s holdings in Air Products & Chemicals were worth $16,678,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in APD. Vanguard Group Inc. boosted its holdings in Air Products & Chemicals by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 18,589,029 shares of the basic materials company’s stock valued at $3,105,298,000 after purchasing an additional 238,723 shares during the period. Vanguard Group Inc lifted its holdings in shares of Air Products & Chemicals by 1.3% during the 3rd quarter. Vanguard Group Inc now owns 18,589,029 shares of the basic materials company’s stock worth $3,105,298,000 after acquiring an additional 238,723 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Air Products & Chemicals by 1.9% during the 4th quarter. BlackRock Inc. now owns 17,129,190 shares of the basic materials company’s stock worth $2,741,528,000 after acquiring an additional 317,875 shares during the last quarter. Findlay Park Partners LLP lifted its holdings in shares of Air Products & Chemicals by 6.4% during the 4th quarter. Findlay Park Partners LLP now owns 3,284,423 shares of the basic materials company’s stock worth $525,672,000 after acquiring an additional 196,923 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Air Products & Chemicals by 3.2% during the 4th quarter. Northern Trust Corp now owns 3,239,618 shares of the basic materials company’s stock worth $518,501,000 after acquiring an additional 100,657 shares during the last quarter. 87.33% of the stock is currently owned by institutional investors.

Shares of APD traded up $3.85 during trading hours on Friday, reaching $208.29. 1,329,391 shares of the company traded hands, compared to its average volume of 1,206,439. The firm has a market capitalization of $45.85 billion, a price-to-earnings ratio of 27.96, a PEG ratio of 2.11 and a beta of 0.83. The company has a current ratio of 2.36, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. Air Products & Chemicals, Inc. has a 12 month low of $148.44 and a 12 month high of $209.86.

Air Products & Chemicals (NYSE:APD) last announced its earnings results on Wednesday, April 24th. The basic materials company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.04. Air Products & Chemicals had a net margin of 18.90% and a return on equity of 15.28%. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same quarter in the previous year, the firm posted $1.71 EPS. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, research analysts forecast that Air Products & Chemicals, Inc. will post 8.22 EPS for the current fiscal year.

A number of analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Air Products & Chemicals from $184.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. JPMorgan Chase & Co. lifted their target price on shares of Air Products & Chemicals from $167.00 to $207.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. BMO Capital Markets lifted their target price on shares of Air Products & Chemicals from $215.00 to $216.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Bank of America upgraded shares of Air Products & Chemicals from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $170.00 to $215.00 in a research report on Thursday, April 25th. Finally, UBS Group lifted their target price on shares of Air Products & Chemicals from $215.00 to $224.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company. Air Products & Chemicals presently has a consensus rating of “Buy” and an average price target of $209.92.

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About Air Products & Chemicals

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, 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 refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.

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

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