Bank of America Corp DE trimmed its position in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 7.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,538,000 shares of the basic materials company’s stock after selling 533,268 shares during the period. Bank of America Corp DE’s holdings in Air Products & Chemicals were worth $1,046,406,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Capital International Investors acquired a new stake in shares of Air Products & Chemicals in the 3rd quarter worth approximately $342,085,000. Bessemer Group Inc. lifted its stake in shares of Air Products & Chemicals by 21,215.8% in the 4th quarter. Bessemer Group Inc. now owns 597,483 shares of the basic materials company’s stock worth $95,627,000 after acquiring an additional 594,680 shares during the period. Bahl & Gaynor Inc. lifted its stake in shares of Air Products & Chemicals by 56.4% in the 4th quarter. Bahl & Gaynor Inc. now owns 1,274,149 shares of the basic materials company’s stock worth $203,928,000 after acquiring an additional 459,587 shares during the period. Deutsche Bank AG lifted its stake in shares of Air Products & Chemicals by 95.3% in the 3rd quarter. Deutsche Bank AG now owns 813,574 shares of the basic materials company’s stock worth $135,901,000 after acquiring an additional 397,029 shares during the period. Finally, 1832 Asset Management L.P. lifted its stake in shares of Air Products & Chemicals by 2,002.7% in the 4th quarter. 1832 Asset Management L.P. now owns 353,219 shares of the basic materials company’s stock worth $56,469,000 after acquiring an additional 336,421 shares during the period. 87.44% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently weighed in on the stock. Credit Suisse Group upped their price target on shares of Air Products & Chemicals from $188.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. Bank of America lowered shares of Air Products & Chemicals from a “neutral” rating to an “underperform” rating and set a $170.00 price target for the company. in a research note on Tuesday, January 8th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered shares of Air Products & Chemicals from a “buy” rating to a “hold” rating in a research note on Thursday, December 13th. One analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $189.67.
Air Products & Chemicals (NYSE:APD) last released its earnings results on Friday, January 25th. The basic materials company reported $1.86 EPS for the quarter, missing the consensus estimate of $1.87 by ($0.01). Air Products & Chemicals had a net margin of 18.92% and a return on equity of 15.13%. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period in the prior year, the company earned $1.79 earnings per share. The firm’s revenue for the quarter was up .3% on a year-over-year basis. Equities analysts predict that Air Products & Chemicals, Inc. will post 8.18 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Monday, April 1st will be paid a dividend of $1.16 per share. The ex-dividend date of this dividend is Friday, March 29th. This is a positive change from Air Products & Chemicals’s previous quarterly dividend of $1.10. This represents a $4.64 annualized dividend and a yield of 2.51%. Air Products & Chemicals’s dividend payout ratio is currently 59.06%.
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Air Products & Chemicals Company Profile
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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