Air Products and Chemicals, Inc. (APD) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 0.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 524,368 shares of the basic materials company’s stock after acquiring an additional 861 shares during the period. PNC Financial Services Group Inc. owned about 0.24% of Air Products and Chemicals worth $75,015,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the business. ProShare Advisors LLC grew its stake in Air Products and Chemicals by 6.5% in the second quarter. ProShare Advisors LLC now owns 450,972 shares of the basic materials company’s stock valued at $64,516,000 after acquiring an additional 27,520 shares during the period. BlueMountain Capital Management LLC acquired a new position in Air Products and Chemicals in the second quarter valued at about $1,871,000. Amalgamated Bank grew its stake in Air Products and Chemicals by 61.0% in the second quarter. Amalgamated Bank now owns 24,207 shares of the basic materials company’s stock valued at $3,463,000 after acquiring an additional 9,175 shares during the period. BlackRock Inc. grew its stake in Air Products and Chemicals by 8.0% in the second quarter. BlackRock Inc. now owns 15,281,219 shares of the basic materials company’s stock valued at $2,186,132,000 after acquiring an additional 1,131,879 shares during the period. Finally, Richard C. Young & CO. LTD. grew its stake in Air Products and Chemicals by 17.2% in the second quarter. Richard C. Young & CO. LTD. now owns 12,810 shares of the basic materials company’s stock valued at $1,833,000 after acquiring an additional 1,877 shares during the period. 88.08% of the stock is owned by hedge funds and other institutional investors.

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A number of research analysts have issued reports on APD shares. Argus boosted their target price on Air Products and Chemicals from $159.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, August 28th. BidaskClub cut Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Jefferies Group LLC reissued a “hold” rating and issued a $155.00 target price on shares of Air Products and Chemicals in a research note on Friday, July 14th. Credit Suisse Group reissued an “outperform” rating and issued a $158.00 target price (up from $153.00) on shares of Air Products and Chemicals in a research note on Wednesday, August 2nd. Finally, Vertical Research raised Air Products and Chemicals from a “sell” rating to a “hold” rating and set a $146.00 target price for the company in a research note on Monday, August 7th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $155.33.

Air Products and Chemicals, Inc. (NYSE APD) traded up 0.04% on Friday, hitting $150.13. The stock had a trading volume of 1,750,625 shares. Air Products and Chemicals, Inc. has a 52 week low of $129.00 and a 52 week high of $151.42. The stock has a market capitalization of $32.72 billion, a price-to-earnings ratio of 11.28 and a beta of 1.25. The company has a 50-day moving average price of $146.29 and a 200-day moving average price of $142.78.

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

The company also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Stockholders 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 annualized dividend and a dividend yield of 2.53%. Air Products and Chemicals’s dividend payout ratio is presently 28.51%.

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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