Arrowstreet Capital Limited Partnership Sells 312,070 Shares of Air Products and Chemicals, Inc. (APD)

Arrowstreet Capital Limited Partnership cut its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 73.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 110,374 shares of the basic materials company’s stock after selling 312,070 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.05% of Air Products and Chemicals worth $15,790,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Patten Group Inc. grew its holdings in shares of Air Products and Chemicals by 3.7% during the first quarter. Patten Group Inc. now owns 778 shares of the basic materials company’s stock valued at $105,000 after purchasing an additional 28 shares during the last quarter. Guardian Life Insurance Co. of America grew its holdings in shares of Air Products and Chemicals by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 838 shares of the basic materials company’s stock valued at $113,000 after purchasing an additional 6 shares during the last quarter. IMS Capital Management bought a new position in shares of Air Products and Chemicals during the second quarter valued at approximately $129,000. Armbruster Capital Management Inc. grew its holdings in shares of Air Products and Chemicals by 13.5% during the second quarter. Armbruster Capital Management Inc. now owns 908 shares of the basic materials company’s stock valued at $130,000 after purchasing an additional 108 shares during the last quarter. Finally, Hanson & Doremus Investment Management grew its holdings in shares of Air Products and Chemicals by 8.8% during the second quarter. Hanson & Doremus Investment Management now owns 931 shares of the basic materials company’s stock valued at $133,000 after purchasing an additional 75 shares during the last quarter. 87.87% of the stock is owned by institutional investors.

Air Products and Chemicals, Inc. (NYSE APD) traded up 0.0113% during midday trading on Thursday, reaching $152.9473. The company’s stock had a trading volume of 46,789 shares. The stock has a market capitalization of $33.34 billion, a price-to-earnings ratio of 11.4903 and a beta of 1.26. The firm has a 50-day moving average price of $149.26 and a 200 day moving average price of $144.53. Air Products and Chemicals, Inc. has a 52-week low of $129.00 and a 52-week high of $153.57.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.06. Air Products and Chemicals had a net margin of 34.63% and a return on equity of 17.23%. The firm had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same period last year, the firm earned $1.92 earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. Equities research analysts predict that Air Products and Chemicals, Inc. will post $6.23 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Tuesday, October 10th will be paid a $0.95 dividend. The ex-dividend date of this dividend is Friday, October 6th. This represents a $3.80 dividend on an annualized basis and a yield of 2.48%. Air Products and Chemicals’s payout ratio is presently 28.51%.

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APD has been the subject of several recent research reports. KeyCorp reaffirmed a “buy” rating and set a $161.00 target price on shares of Air Products and Chemicals in a report on Friday, September 8th. Deutsche Bank AG boosted their price objective on Air Products and Chemicals from $160.00 to $168.00 and gave the stock a “hold” rating in a research report on Wednesday, August 2nd. Vertical Research reiterated a “hold” rating and set a $148.00 price objective (up from $146.00) on shares of Air Products and Chemicals in a research report on Tuesday, September 12th. Susquehanna Bancshares Inc upgraded Air Products and Chemicals from a “neutral” rating to a “positive” rating and boosted their price objective for the stock from $165.00 to $175.00 in a research report on Thursday, September 14th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $158.00 price objective (up from $153.00) on shares of Air Products and Chemicals in a research report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $157.15.

Air Products and Chemicals Company Profile

Air Products and Chemicals, Inc, is an industrial gases company. The Company’s Industrial Gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. The Company is also a supplier of liquefied natural gas process technology and equipment.

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

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