Pacific Alternative Asset Management Company LLC purchased a new position in shares of Air Products and Chemicals, Inc. (NYSE:APD) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 15,371 shares of the basic materials company’s stock, valued at approximately $2,199,000. Air Products and Chemicals accounts for about 0.6% of Pacific Alternative Asset Management Company LLC’s investment portfolio, making the stock its 24th largest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Air Products and Chemicals by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 17,493,224 shares of the basic materials company’s stock worth $2,502,580,000 after purchasing an additional 604,454 shares during the period. BlackRock Inc. grew its position in Air Products and Chemicals by 8.0% during the 2nd quarter. BlackRock Inc. now owns 15,281,219 shares of the basic materials company’s stock worth $2,186,132,000 after purchasing an additional 1,131,879 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its position in Air Products and Chemicals by 6.8% during the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 9,651,446 shares of the basic materials company’s stock worth $1,305,744,000 after purchasing an additional 611,672 shares during the period. Principal Financial Group Inc. grew its position in Air Products and Chemicals by 13.4% during the 2nd quarter. Principal Financial Group Inc. now owns 3,541,101 shares of the basic materials company’s stock worth $506,589,000 after purchasing an additional 419,593 shares during the period. Finally, American Century Companies Inc. grew its position in Air Products and Chemicals by 57.2% during the 2nd quarter. American Century Companies Inc. now owns 2,125,659 shares of the basic materials company’s stock worth $304,097,000 after purchasing an additional 773,446 shares during the period. 87.86% of the stock is currently owned by institutional investors.

Shares of Air Products and Chemicals, Inc. (NYSE:APD) traded down 0.17% on Friday, reaching $150.79. 380,009 shares of the company were exchanged. The company has a market capitalization of $32.87 billion, a P/E ratio of 11.33 and a beta of 1.25. Air Products and Chemicals, Inc. has a 52-week low of $129.00 and a 52-week high of $151.42. The stock has a 50 day moving average of $146.74 and a 200-day moving average of $142.94.

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 for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $2.06 billion. During the same period in the prior year, the business posted $1.92 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, analysts predict that Air Products and Chemicals, Inc. will post $6.23 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Tuesday, October 10th will be given a dividend of $0.95 per share. The ex-dividend date is Friday, October 6th. This represents a $3.80 annualized dividend and a yield of 2.52%. Air Products and Chemicals’s payout ratio is currently 28.51%.

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A number of research firms have recently commented on APD. KeyCorp restated a “buy” rating and set a $161.00 target price on shares of Air Products and Chemicals in a research report on Friday, September 8th. Vertical Research restated a “hold” rating and set a $148.00 target price (up from $146.00) on shares of Air Products and Chemicals in a research report on Tuesday, September 12th. Deutsche Bank AG raised their target price on Air Products and Chemicals from $160.00 to $168.00 and gave the company a “hold” rating in a research report on Wednesday, August 2nd. Credit Suisse Group restated an “outperform” rating and set a $158.00 target price (up from $153.00) on shares of Air Products and Chemicals in a research report on Wednesday, August 2nd. Finally, Jefferies Group LLC restated a “hold” rating and set a $155.00 target price on shares of Air Products and Chemicals in a research report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $155.33.

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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