Air Products & Chemicals, Inc. (APD) Position Lifted by Victory Capital Management Inc.
Victory Capital Management Inc. boosted its holdings in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 263.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 109,692 shares of the basic materials company’s stock after buying an additional 79,507 shares during the quarter. Victory Capital Management Inc. owned about 0.05% of Air Products & Chemicals worth $18,324,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Bank of America Corp DE lifted its stake in Air Products & Chemicals by 1.1% during the second quarter. Bank of America Corp DE now owns 7,224,475 shares of the basic materials company’s stock worth $1,125,067,000 after purchasing an additional 75,105 shares during the period. FMR LLC raised its stake in shares of Air Products & Chemicals by 52.8% in the second quarter. FMR LLC now owns 4,457,144 shares of the basic materials company’s stock valued at $694,111,000 after acquiring an additional 1,540,875 shares during the last quarter. Findlay Park Partners LLP raised its stake in shares of Air Products & Chemicals by 6.7% in the second quarter. Findlay Park Partners LLP now owns 3,200,000 shares of the basic materials company’s stock valued at $498,336,000 after acquiring an additional 200,000 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Air Products & Chemicals by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 3,148,186 shares of the basic materials company’s stock valued at $490,265,000 after acquiring an additional 68,094 shares during the last quarter. Finally, Luminus Management LLC increased its holdings in shares of Air Products & Chemicals by 14.3% in the second quarter. Luminus Management LLC now owns 1,925,589 shares of the basic materials company’s stock valued at $299,872,000 after purchasing an additional 240,918 shares in the last quarter. 86.29% of the stock is currently owned by hedge funds and other institutional investors.
In other Air Products & Chemicals news, Chairman Seifi Ghasemi bought 20,000 shares of the firm’s stock in a transaction on Monday, November 12th. The shares were purchased at an average price of $160.11 per share, for a total transaction of $3,202,200.00. Following the transaction, the chairman now directly owns 408,652 shares in the company, valued at approximately $65,429,271.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.37% of the company’s stock.
Air Products & Chemicals (NYSE:APD) last announced its quarterly earnings results on Tuesday, November 6th. The basic materials company reported $2.00 EPS for the quarter, beating the Zacks’ consensus estimate of $1.99 by $0.01. Air Products & Chemicals had a net margin of 16.77% and a return on equity of 15.30%. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the prior year, the business earned $1.76 EPS. Air Products & Chemicals’s quarterly revenue was up 4.3% on a year-over-year basis. On average, analysts anticipate that Air Products & Chemicals, Inc. will post 8.19 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 11th. Shareholders of record on Wednesday, January 2nd will be given a dividend of $1.10 per share. The ex-dividend date is Monday, December 31st. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.80%. Air Products & Chemicals’s payout ratio is presently 59.06%.
A number of brokerages recently weighed in on APD. Sanford C. Bernstein began coverage on shares of Air Products & Chemicals in a report on Monday, September 24th. They issued an “outperform” rating and a $202.00 price target for the company. ValuEngine raised shares of Air Products & Chemicals from a “hold” rating to a “buy” rating in a report on Thursday, October 4th. BNP Paribas began coverage on shares of Air Products & Chemicals in a report on Tuesday, October 2nd. They set an “outperform” rating for the company. Zacks Investment Research lowered shares of Air Products & Chemicals from a “buy” rating to a “hold” rating in a report on Monday, October 1st. Finally, Vertical Research raised shares of Air Products & Chemicals from a “hold” rating to a “buy” rating in a report on Wednesday, August 29th. Fifteen equities research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus price target of $190.08.
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About Air Products & Chemicals
Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, electronics and performance materials, 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 metals, glass, chemical processing, electronics, energy production and refining, food processing, metallurgical, medical, and general manufacturing.
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