Long Road Investment Counsel LLC grew its position in Air Products & Chemicals, Inc. (NYSE:APD) by 30.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,425 shares of the basic materials company’s stock after acquiring an additional 3,840 shares during the quarter. Air Products & Chemicals comprises about 1.9% of Long Road Investment Counsel LLC’s portfolio, making the stock its 16th largest position. Long Road Investment Counsel LLC’s holdings in Air Products & Chemicals were worth $3,137,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in APD. Morgan Stanley lifted its holdings in shares of Air Products & Chemicals by 22.0% during the 3rd quarter. Morgan Stanley now owns 854,110 shares of the basic materials company’s stock worth $142,680,000 after acquiring an additional 154,103 shares during the last quarter. Vanguard Group Inc raised its position in Air Products & Chemicals by 1.3% in 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 purchasing an additional 238,723 shares during the period. Strs Ohio raised its position in Air Products & Chemicals by 32.2% in the 4th quarter. Strs Ohio now owns 149,430 shares of the basic materials company’s stock worth $23,916,000 after purchasing an additional 36,439 shares during the period. First Quadrant L P CA purchased a new position in Air Products & Chemicals in the 4th quarter worth $880,000. Finally, Cox Capital Mgt LLC raised its position in Air Products & Chemicals by 2.9% in the 4th quarter. Cox Capital Mgt LLC now owns 11,736 shares of the basic materials company’s stock worth $1,837,000 after purchasing an additional 332 shares during the period. 87.12% of the stock is currently owned by institutional investors and hedge funds.

In other Air Products & Chemicals news, VP Russell A. Flugel sold 2,970 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $207.01, for a total value of $614,819.70. Following the transaction, the vice president now owns 6,387 shares in the company, valued at $1,322,172.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.35% of the stock is currently owned by insiders.

A number of brokerages recently commented on APD. Barclays lifted their target price on shares of Air Products & Chemicals from $184.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Credit Suisse Group lifted their target price on shares of Air Products & Chemicals from $200.00 to $222.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Deutsche Bank lifted their target price on shares of Air Products & Chemicals from $182.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Zacks Investment Research cut shares of Air Products & Chemicals from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. Finally, Bank of America upgraded shares of Air Products & Chemicals from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $170.00 to $215.00 in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company’s stock. Air Products & Chemicals has an average rating of “Buy” and a consensus target price of $211.50.

APD stock opened at $204.49 on Friday. Air Products & Chemicals, Inc. has a 12-month low of $148.44 and a 12-month high of $210.15. The stock has a market capitalization of $45.01 billion, a price-to-earnings ratio of 27.45, a PEG ratio of 2.14 and a beta of 0.83. 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 released its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.04. Air Products & Chemicals had a net margin of 18.90% and a return on equity of 15.28%. The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter in the previous year, the company earned $1.71 earnings per share. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, equities analysts predict that Air Products & Chemicals, Inc. will post 8.22 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 12th. Shareholders of record on Monday, July 1st will be given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Friday, June 28th. Air Products & Chemicals’s payout ratio is 62.28%.

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About Air Products & Chemicals

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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