Piedmont Investment Advisors Inc. Has $12.23 Million Holdings in Air Products & Chemicals, Inc. (APD)

Piedmont Investment Advisors Inc. raised its stake in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 0.9% during the 1st quarter, Holdings Channel reports. The firm owned 64,054 shares of the basic materials company’s stock after purchasing an additional 581 shares during the quarter. Piedmont Investment Advisors Inc.’s holdings in Air Products & Chemicals were worth $12,232,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Field & Main Bank bought a new stake in Air Products & Chemicals in the 1st quarter valued at approximately $27,000. Athena Capital Advisors LLC bought a new stake in Air Products & Chemicals in the 4th quarter valued at approximately $28,000. Old North State Trust LLC lifted its stake in Air Products & Chemicals by 376.1% in the 4th quarter. Old North State Trust LLC now owns 219 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 173 shares in the last quarter. Pinnacle Bank bought a new stake in Air Products & Chemicals in the 4th quarter valued at approximately $38,000. Finally, Transamerica Financial Advisors Inc. raised its stake in shares of Air Products & Chemicals by 617.6% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 244 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 210 shares in the last quarter. Institutional investors and hedge funds own 87.12% of the company’s stock.

Shares of Air Products & Chemicals stock opened at $203.07 on Thursday. Air Products & Chemicals, Inc. has a 12-month low of $148.44 and a 12-month high of $210.15. The company has a market cap of $45.56 billion, a PE ratio of 27.26, a P/E/G ratio of 2.14 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 (NYSE:APD) last posted its earnings results on Wednesday, April 24th. The basic materials company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.04. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.23 billion. Air Products & Chemicals had a return on equity of 15.28% and a net margin of 18.90%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.71 EPS. As a group, equities analysts expect that Air Products & Chemicals, Inc. will post 8.22 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Investors of record on Monday, July 1st will be issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Friday, June 28th. Air Products & Chemicals’s payout ratio is presently 62.28%.

APD has been the topic of a number of analyst reports. Zacks Investment Research cut Air Products & Chemicals from a “hold” rating to a “sell” rating in a research note on Wednesday, April 17th. Credit Suisse Group upped their price objective on Air Products & Chemicals from $188.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. KeyCorp upped their price objective on Air Products & Chemicals from $195.00 to $220.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. BMO Capital Markets upped their price objective on Air Products & Chemicals from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 9th. Finally, JPMorgan Chase & Co. upped their price objective on Air Products & Chemicals from $167.00 to $207.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $211.50.

In related news, VP Russell A. Flugel sold 2,970 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $207.01, for a total transaction of $614,819.70. Following the transaction, the vice president now directly owns 6,387 shares of the company’s stock, valued at approximately $1,322,172.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.35% of the stock is currently owned by insiders.

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Air Products & Chemicals Company Profile

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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