Air Products & Chemicals, Inc. (APD) Stake Decreased by Penserra Capital Management LLC

Penserra Capital Management LLC decreased its holdings in Air Products & Chemicals, Inc. (NYSE:APD) by 24.6% in the first quarter, HoldingsChannel reports. The firm owned 7,106 shares of the basic materials company’s stock after selling 2,320 shares during the period. Penserra Capital Management LLC’s holdings in Air Products & Chemicals were worth $1,460,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc lifted its position in 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 period. BlackRock Inc. lifted its position in 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 period. Findlay Park Partners LLP lifted its position in 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 period. Northern Trust Corp lifted its position in 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 period. Finally, Geode Capital Management LLC lifted its position in Air Products & Chemicals by 7.6% during the 4th quarter. Geode Capital Management LLC now owns 2,636,556 shares of the basic materials company’s stock worth $421,179,000 after acquiring an additional 187,347 shares during the period. 87.12% of the stock is owned by hedge funds and other institutional investors.

APD has been the subject of a number of research reports. Zacks Investment Research raised Air Products & Chemicals from a “hold” rating to a “buy” rating and set a $177.00 price target for the company in a research report on Thursday, January 24th. Credit Suisse Group boosted their price objective on Air Products & Chemicals from $188.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. BMO Capital Markets boosted their price objective on Air Products & Chemicals from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Tuesday, April 9th. KeyCorp lifted their price target on Air Products & Chemicals from $195.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Finally, Deutsche Bank boosted their price objective on Air Products & Chemicals from $182.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $211.50.

In other 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 in the company, valued at approximately $1,322,172.87. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.35% of the company’s stock.

Shares of Air Products & Chemicals stock opened at $204.21 on Friday. The company has a market cap of $45.56 billion, a PE ratio of 27.41, a P/E/G ratio of 2.14 and a beta of 0.83. Air Products & Chemicals, Inc. has a 1-year low of $148.44 and a 1-year high of $210.15. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 2.36.

Air Products & Chemicals (NYSE:APD) last issued its earnings results on Wednesday, April 24th. The basic materials company reported $1.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.88 by $0.04. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.23 billion. Air Products & Chemicals had a return on equity of 15.28% and a net margin of 18.90%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.71 EPS. As a group, analysts expect that Air Products & Chemicals, Inc. will post 8.22 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Stockholders of record on Monday, July 1st will be issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Friday, June 28th. Air Products & Chemicals’s dividend payout ratio is currently 62.28%.

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Air Products & Chemicals 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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