Air Products & Chemicals, Inc. (APD) Holdings Trimmed by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its position in Air Products & Chemicals, Inc. (NYSE:APD) by 92.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,200 shares of the basic materials company’s stock after selling 501,000 shares during the period. Renaissance Technologies LLC’s holdings in Air Products & Chemicals were worth $6,105,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bridgewater Associates LP purchased a new stake in shares of Air Products & Chemicals during the second quarter worth about $513,000. Grandfield & Dodd LLC increased its stake in shares of Air Products & Chemicals by 0.5% during the second quarter. Grandfield & Dodd LLC now owns 97,860 shares of the basic materials company’s stock worth $15,240,000 after purchasing an additional 500 shares in the last quarter. Cadence Capital Management LLC increased its stake in shares of Air Products & Chemicals by 10.2% during the second quarter. Cadence Capital Management LLC now owns 32,873 shares of the basic materials company’s stock worth $5,119,000 after purchasing an additional 3,035 shares in the last quarter. Braun Bostich & Associates Inc. increased its stake in shares of Air Products & Chemicals by 542.6% during the second quarter. Braun Bostich & Associates Inc. now owns 739 shares of the basic materials company’s stock worth $115,000 after purchasing an additional 624 shares in the last quarter. Finally, Sei Investments Co. increased its stake in shares of Air Products & Chemicals by 2,338.9% during the second quarter. Sei Investments Co. now owns 112,993 shares of the basic materials company’s stock worth $17,596,000 after purchasing an additional 108,360 shares in the last quarter. 85.97% of the stock is owned by institutional investors.

APD has been the subject of a number of research reports. Vertical Research raised shares of Air Products & Chemicals from a “hold” rating to a “buy” rating in a research note on Wednesday, August 29th. Zacks Investment Research raised shares of Air Products & Chemicals from a “hold” rating to a “buy” rating and set a $174.00 target price for the company in a research note on Wednesday, June 27th. Deutsche Bank boosted their target price on shares of Air Products & Chemicals from $190.00 to $192.00 and gave the stock a “buy” rating in a research note on Tuesday, August 14th. BMO Capital Markets reissued a “buy” rating and set a $197.00 target price (up previously from $195.00) on shares of Air Products & Chemicals in a research note on Friday, July 27th. Finally, Credit Suisse Group boosted their target price on shares of Air Products & Chemicals from $182.00 to $188.00 and gave the stock a “buy” rating in a research note on Friday, July 27th. One investment analyst has rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $186.65.

APD opened at $158.27 on Friday. The stock has a market cap of $36.63 billion, a P/E ratio of 25.18, a price-to-earnings-growth ratio of 1.68 and a beta of 1.05. Air Products & Chemicals, Inc. has a twelve month low of $152.02 and a twelve month high of $175.17. The company has a current ratio of 2.40, a quick ratio of 2.24 and a debt-to-equity ratio of 0.35.

Air Products & Chemicals (NYSE:APD) last posted its quarterly earnings results on Thursday, July 26th. The basic materials company reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.11. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.31 billion. Air Products & Chemicals had a net margin of 17.13% and a return on equity of 15.15%. Air Products & Chemicals’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.65 earnings per share. Equities analysts predict that Air Products & Chemicals, Inc. will post 7.45 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 12th. Investors of record on Monday, October 1st will be given a dividend of $1.10 per share. The ex-dividend date is Friday, September 28th. This represents a $4.40 dividend on an annualized basis and a yield of 2.78%. Air Products & Chemicals’s payout ratio is presently 69.73%.

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

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