Ieq Capital LLC Increases Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Ieq Capital LLC lifted its position in shares of Air Products and Chemicals, Inc. (NYSE:APDGet Rating) by 39.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,308 shares of the basic materials company’s stock after buying an additional 1,781 shares during the period. Ieq Capital LLC’s holdings in Air Products and Chemicals were worth $1,468,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Public Investment Fund boosted its position in shares of Air Products and Chemicals by 269.2% during the second quarter. Public Investment Fund now owns 2,685,331 shares of the basic materials company’s stock valued at $645,768,000 after purchasing an additional 1,957,991 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Air Products and Chemicals by 5,609.4% during the second quarter. Nordea Investment Management AB now owns 718,301 shares of the basic materials company’s stock valued at $168,758,000 after purchasing an additional 705,720 shares in the last quarter. Credit Suisse AG boosted its position in shares of Air Products and Chemicals by 89.5% during the second quarter. Credit Suisse AG now owns 1,382,411 shares of the basic materials company’s stock valued at $332,443,000 after purchasing an additional 652,949 shares in the last quarter. Invesco Ltd. boosted its position in shares of Air Products and Chemicals by 36.3% during the first quarter. Invesco Ltd. now owns 1,287,687 shares of the basic materials company’s stock valued at $321,806,000 after purchasing an additional 342,982 shares in the last quarter. Finally, Truist Financial Corp boosted its position in shares of Air Products and Chemicals by 187.0% during the second quarter. Truist Financial Corp now owns 463,054 shares of the basic materials company’s stock valued at $111,355,000 after purchasing an additional 301,713 shares in the last quarter. 82.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

APD has been the topic of several research reports. Deutsche Bank Aktiengesellschaft lifted their price target on Air Products and Chemicals from $292.00 to $340.00 in a research report on Wednesday, December 7th. Bank of America lifted their price objective on Air Products and Chemicals from $281.00 to $308.00 in a research note on Monday, November 7th. BMO Capital Markets lifted their price objective on Air Products and Chemicals from $339.00 to $390.00 and gave the company an “outperform” rating in a research note on Tuesday, November 22nd. Citigroup lifted their price objective on Air Products and Chemicals from $294.00 to $339.00 and gave the company a “neutral” rating in a research note on Thursday, December 15th. Finally, Societe Generale cut Air Products and Chemicals from a “buy” rating to a “hold” rating and set a $340.00 price target for the company. in a research note on Thursday, January 12th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Air Products and Chemicals presently has an average rating of “Moderate Buy” and an average target price of $313.79.

Air Products and Chemicals Stock Performance

Shares of APD opened at $313.34 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.81 and a quick ratio of 1.66. Air Products and Chemicals, Inc. has a one year low of $216.24 and a one year high of $328.56. The firm has a market capitalization of $69.52 billion, a P/E ratio of 30.90, a PEG ratio of 2.04 and a beta of 0.83. The business has a fifty day moving average of $310.03 and a 200 day moving average of $271.23.

Air Products and Chemicals (NYSE:APDGet Rating) last issued its quarterly earnings data on Thursday, November 3rd. The basic materials company reported $2.89 EPS for the quarter, topping the consensus estimate of $2.77 by $0.12. Air Products and Chemicals had a return on equity of 16.31% and a net margin of 17.77%. The company had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same quarter in the previous year, the company posted $2.51 earnings per share. Air Products and Chemicals’s revenue was up 25.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Air Products and Chemicals, Inc. will post 11.42 EPS for the current year.

Air Products and Chemicals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 13th. Shareholders of record on Tuesday, January 3rd will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Friday, December 30th. Air Products and Chemicals’s dividend payout ratio is presently 63.91%.

Insider Buying and Selling at Air Products and Chemicals

In other Air Products and Chemicals news, VP Sean D. Major sold 485 shares of the business’s stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $313.00, for a total transaction of $151,805.00. Following the completion of the sale, the vice president now owns 14,275 shares of the company’s stock, valued at $4,468,075. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.40% of the stock is currently owned by corporate insiders.

About Air Products and Chemicals

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Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; 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, manufacturing, electronics, magnetic resonance imaging, energy production, medical, food, and metals.

Further Reading

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

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