JPMorgan Chase & Co. boosted its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 39.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 767,750 shares of the basic materials company’s stock after purchasing an additional 215,854 shares during the quarter. JPMorgan Chase & Co. owned about 0.35% of Air Products and Chemicals worth $109,834,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Patten Group Inc. raised its stake in Air Products and Chemicals by 3.7% during the 1st quarter. Patten Group Inc. now owns 778 shares of the basic materials company’s stock valued at $105,000 after purchasing an additional 28 shares during the period. State of Alaska Department of Revenue bought a new stake in Air Products and Chemicals during the 1st quarter valued at approximately $109,000. Guardian Life Insurance Co. of America raised its stake in Air Products and Chemicals by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 838 shares of the basic materials company’s stock valued at $113,000 after purchasing an additional 6 shares during the period. Webster Bank N. A. raised its stake in Air Products and Chemicals by 68.2% during the 1st quarter. Webster Bank N. A. now owns 851 shares of the basic materials company’s stock valued at $115,000 after purchasing an additional 345 shares during the period. Finally, IMS Capital Management bought a new stake in Air Products and Chemicals during the 2nd quarter valued at approximately $129,000. 88.08% of the stock is currently owned by institutional investors.

APD has been the topic of several recent analyst reports. Deutsche Bank AG lifted their target price on Air Products and Chemicals from $160.00 to $168.00 and gave the company a “hold” rating in a research note on Wednesday, August 2nd. Credit Suisse Group restated an “outperform” rating and set a $158.00 price target (up previously from $153.00) on shares of Air Products and Chemicals in a report on Wednesday, August 2nd. 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 Friday, July 14th. BidaskClub cut Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Finally, Vertical Research upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating and set a $146.00 price target for the company in a report on Monday, August 7th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $153.79.

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Air Products and Chemicals, Inc. (NYSE APD) opened at 144.97 on Friday. The stock has a 50 day moving average price of $145.58 and a 200 day moving average price of $142.45. Air Products and Chemicals, Inc. has a 52-week low of $129.00 and a 52-week high of $150.45. The company has a market capitalization of $31.60 billion, a price-to-earnings ratio of 10.89 and a beta of 1.25.

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

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Tuesday, October 10th will be paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Friday, October 6th. Air Products and Chemicals’s dividend payout ratio is presently 28.51%.

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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