Invesco Ltd. Buys 54,289 Shares of Air Products & Chemicals, Inc. (NYSE:APD)

Invesco Ltd. grew its stake in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 2.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,107,983 shares of the basic materials company’s stock after buying an additional 54,289 shares during the period. Invesco Ltd. owned 0.96% of Air Products & Chemicals worth $477,183,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Air Products & Chemicals by 2.8% in the second quarter. BlackRock Inc. now owns 16,830,640 shares of the basic materials company’s stock worth $3,809,950,000 after purchasing an additional 454,016 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Air Products & Chemicals by 2.1% in the second quarter. Vanguard Group Inc. now owns 19,674,476 shares of the basic materials company’s stock worth $4,453,711,000 after purchasing an additional 411,472 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Air Products & Chemicals by 358.5% in the first quarter. Nordea Investment Management AB now owns 405,635 shares of the basic materials company’s stock worth $77,462,000 after purchasing an additional 317,174 shares during the last quarter. Bahl & Gaynor Inc. increased its position in shares of Air Products & Chemicals by 18.6% in the second quarter. Bahl & Gaynor Inc. now owns 1,557,160 shares of the basic materials company’s stock worth $352,494,000 after purchasing an additional 244,100 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of Air Products & Chemicals by 71.7% in the second quarter. First Trust Advisors LP now owns 527,192 shares of the basic materials company’s stock worth $119,340,000 after purchasing an additional 220,088 shares during the last quarter. Hedge funds and other institutional investors own 85.37% of the company’s stock.

APD has been the topic of several research analyst reports. BMO Capital Markets upped their price objective on shares of Air Products & Chemicals from $235.00 to $252.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. Barclays upped their price objective on shares of Air Products & Chemicals from $220.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Sanford C. Bernstein cut shares of Air Products & Chemicals from an “outperform” rating to a “market perform” rating and set a $225.00 price objective on the stock. in a research report on Thursday, July 18th. Deutsche Bank upped their price objective on shares of Air Products & Chemicals from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Air Products & Chemicals from $207.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, June 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $234.71.

In other news, CEO Seifi Ghasemi bought 20,000 shares of the business’s stock in a transaction on Friday, July 26th. The stock was acquired at an average price of $227.16 per share, with a total value of $4,543,200.00. Following the completion of the purchase, the chief executive officer now directly owns 453,783 shares in the company, valued at $103,081,346.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.35% of the stock is owned by corporate insiders.

APD traded down $0.08 during midday trading on Wednesday, hitting $221.49. The stock had a trading volume of 64,427 shares, compared to its average volume of 918,928. The company has a market cap of $48.97 billion, a P/E ratio of 29.73, a price-to-earnings-growth ratio of 2.22 and a beta of 0.86. The business has a fifty day moving average of $224.79 and a 200 day moving average of $210.87. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.09 and a current ratio of 2.28. Air Products & Chemicals, Inc. has a 1 year low of $148.44 and a 1 year high of $232.47.

Air Products & Chemicals (NYSE:APD) last issued its earnings results on Thursday, July 25th. The basic materials company reported $2.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.14 by $0.03. The business had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.32 billion. Air Products & Chemicals had a return on equity of 15.42% and a net margin of 19.14%. Air Products & Chemicals’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.95 earnings per share. On average, equities research analysts anticipate that Air Products & Chemicals, Inc. will post 8.24 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 11th. Shareholders of record on Tuesday, October 1st will be paid a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Monday, September 30th. Air Products & Chemicals’s dividend payout ratio is currently 62.28%.

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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