Great Lakes Advisors LLC Boosts Stake in Air Products & Chemicals, Inc. (APD)

Great Lakes Advisors LLC lifted its stake in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 25.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,439 shares of the basic materials company’s stock after buying an additional 3,721 shares during the period. Great Lakes Advisors LLC’s holdings in Air Products & Chemicals were worth $3,521,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of APD. OMERS ADMINISTRATION Corp acquired a new stake in shares of Air Products & Chemicals during the fourth quarter worth $164,779,000. Deutsche Bank AG lifted its position in Air Products & Chemicals by 96.6% during the fourth quarter. Deutsche Bank AG now owns 1,599,411 shares of the basic materials company’s stock valued at $255,979,000 after purchasing an additional 785,837 shares during the period. Norges Bank acquired a new position in Air Products & Chemicals during the fourth quarter valued at $95,285,000. Bessemer Group Inc. lifted its position in Air Products & Chemicals by 21,215.8% during the fourth quarter. Bessemer Group Inc. now owns 597,483 shares of the basic materials company’s stock valued at $95,627,000 after purchasing an additional 594,680 shares during the period. Finally, Bahl & Gaynor Inc. lifted its position in Air Products & Chemicals by 56.4% during the fourth quarter. Bahl & Gaynor Inc. now owns 1,274,149 shares of the basic materials company’s stock valued at $203,928,000 after purchasing an additional 459,587 shares during the period. Institutional investors and hedge funds own 87.41% of the company’s stock.

APD has been the subject of a number of research reports. UBS Group boosted their target price on shares of Air Products & Chemicals from $215.00 to $224.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Deutsche Bank boosted their target price on shares of Air Products & Chemicals from $182.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Zacks Investment Research upgraded shares of Air Products & Chemicals from a “hold” rating to a “buy” rating and set a $177.00 target price for the company in a research report on Thursday, January 24th. Vertical Research downgraded shares of Air Products & Chemicals from a “buy” rating to a “hold” rating in a research report on Thursday, April 25th. Finally, Bank of America upgraded shares of Air Products & Chemicals from an “underperform” rating to a “neutral” rating and boosted their target price for the company 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 assigned a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $211.50.

Shares of Air Products & Chemicals stock opened at $206.98 on Wednesday. The stock has a market capitalization of $46.21 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 2.17 and a beta of 0.83. Air Products & Chemicals, Inc. has a fifty-two week low of $148.44 and a fifty-two week high of $210.15. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.36 and a quick ratio of 2.16.

Air Products & Chemicals (NYSE:APD) last issued its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.04. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.23 billion. Air Products & Chemicals had a net margin of 18.90% and a return on equity of 15.28%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.71 earnings per share. On average, sell-side analysts predict that Air Products & Chemicals, Inc. will post 8.22 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Stockholders of record on Monday, July 1st will be paid a dividend of $1.16 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.24%. Air Products & Chemicals’s dividend payout ratio is currently 62.28%.

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

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