Peak Asset Management LLC bought a new stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) during the second quarter, Holdings Channel reports. The institutional investor bought 1,725 shares of the basic materials company’s stock, valued at approximately $247,000.

A number of other hedge funds have also recently made changes to their positions in the stock. iAB Financial Bank purchased a new stake in shares of Air Products and Chemicals during the first quarter valued at about $100,000. Patten Group Inc. boosted its position in Air Products and Chemicals by 3.7% in the first quarter. Patten Group Inc. now owns 778 shares of the basic materials company’s stock valued at $105,000 after buying an additional 28 shares in the last quarter. State of Alaska Department of Revenue bought a new position in Air Products and Chemicals during the first quarter valued at approximately $109,000. Guardian Life Insurance Co. of America boosted its position in Air Products and Chemicals by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 838 shares of the basic materials company’s stock valued at $113,000 after buying an additional 6 shares in the last quarter. Finally, Webster Bank N. A. boosted its position in Air Products and Chemicals by 68.2% in the first quarter. Webster Bank N. A. now owns 851 shares of the basic materials company’s stock valued at $115,000 after buying an additional 345 shares in the last quarter. 88.75% of the stock is currently owned by institutional investors.

Shares of Air Products and Chemicals, Inc. (APD) opened at 146.81 on Wednesday. The firm’s 50-day moving average is $144.91 and its 200-day moving average is $141.83. Air Products and Chemicals, Inc. has a 12-month low of $129.00 and a 12-month high of $150.45. The company has a market capitalization of $32.00 billion, a PE ratio of 11.03 and a beta of 1.25.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.06. Air Products and Chemicals had a net margin of 34.63% and a return on equity of 17.23%. The company had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter last year, the firm posted $1.92 EPS. The company’s quarterly revenue was up 10.8% on a year-over-year basis. On average, equities research analysts anticipate that Air Products and Chemicals, Inc. will post $6.23 EPS for the current fiscal year.

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

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Several research firms have recently commented on APD. Barclays PLC restated a “buy” rating and set a $170.00 price target on shares of Air Products and Chemicals in a report on Friday, August 4th. Jefferies Group LLC restated a “hold” rating and set a $155.00 price target on shares of Air Products and Chemicals in a report on Tuesday, May 2nd. Vertical Research upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating and set a $146.00 price target on the stock in a report on Monday, August 7th. BidaskClub cut shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Finally, Zacks Investment Research cut shares of Air Products and Chemicals from a “buy” rating to a “hold” rating in a report on Monday, May 1st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. Air Products and Chemicals currently has a consensus rating of “Hold” and an average target price of $152.77.

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.

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

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