Global X Management Co. LLC increased its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 76.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,304 shares of the basic materials company’s stock after buying an additional 564 shares during the period. Global X Management Co. LLC’s holdings in Air Products and Chemicals were worth $176,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. First Eagle Investment Management LLC increased its stake in Air Products and Chemicals by 243.2% in the first quarter. First Eagle Investment Management LLC now owns 1,789,910 shares of the basic materials company’s stock valued at $242,157,000 after buying an additional 1,268,305 shares during the period. Norges Bank purchased a new position in Air Products and Chemicals during the fourth quarter valued at approximately $99,732,000. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Air Products and Chemicals by 6.8% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 9,651,446 shares of the basic materials company’s stock valued at $1,305,744,000 after buying an additional 611,672 shares during the period. Luminus Management LLC purchased a new position in Air Products and Chemicals during the fourth quarter valued at approximately $83,574,000. Finally, Cibc World Markets Corp boosted its position in Air Products and Chemicals by 59.3% in the first quarter. Cibc World Markets Corp now owns 1,524,806 shares of the basic materials company’s stock valued at $206,291,000 after buying an additional 567,786 shares during the period. Institutional investors own 89.20% of the company’s stock.

Shares of Air Products and Chemicals, Inc. (APD) traded down 0.80% during trading on Thursday, hitting $146.92. The stock had a trading volume of 1,860,314 shares. The firm has a 50-day moving average of $144.52 and a 200 day moving average of $141.78. The company has a market capitalization of $32.02 billion, a P/E ratio of 23.62 and a beta of 1.26. Air Products and Chemicals, Inc. has a 1-year low of $129.00 and a 1-year high of $150.45.

Air Products and Chemicals (NYSE:APD) last issued its earnings results on Tuesday, August 1st. The basic materials company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.06. The business had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Air Products and Chemicals had a net margin of 34.63% and a return on equity of 18.07%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.92 earnings per share. Equities research analysts predict that Air Products and Chemicals, Inc. will post $6.20 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Stockholders of record on Tuesday, October 10th will be issued a dividend of $0.95 per share. The ex-dividend date is Friday, October 6th. This represents a $3.80 annualized dividend and a dividend yield of 2.59%. Air Products and Chemicals’s payout ratio is 28.51%.

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Several equities analysts have commented on APD shares. Credit Suisse Group reaffirmed an “outperform” rating and issued a $158.00 price target (up previously from $153.00) on shares of Air Products and Chemicals in a report on Wednesday. Deutsche Bank AG raised Air Products and Chemicals from a “hold” rating to a “buy” rating and increased their target price for the stock from $148.00 to $160.00 in a report on Monday, May 1st. BidaskClub lowered Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Zacks Investment Research upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $152.00 price target on the stock in a research report on Tuesday, April 18th. Finally, Jefferies Group LLC restated a “hold” rating and set a $155.00 price target on shares of Air Products and Chemicals in a research report on Tuesday, May 2nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. Air Products and Chemicals presently has an average rating of “Hold” and a consensus target price of $153.08.

About Air Products and Chemicals

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.

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

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