Los Angeles Capital Management & Equity Research Inc. Buys 56,050 Shares of Air Products & Chemicals, Inc. (APD)

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Los Angeles Capital Management & Equity Research Inc. raised its stake in Air Products & Chemicals, Inc. (NYSE:APD) by 27.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 259,294 shares of the basic materials company’s stock after acquiring an additional 56,050 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.12% of Air Products & Chemicals worth $43,315,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in APD. Bank of America Corp DE boosted its position in shares of 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 valued at $1,125,067,000 after buying an additional 75,105 shares during the last quarter. FMR LLC boosted its position in shares of Air Products & Chemicals by 52.8% during the second quarter. FMR LLC now owns 4,457,144 shares of the basic materials company’s stock valued at $694,111,000 after buying an additional 1,540,875 shares during the last quarter. Findlay Park Partners LLP boosted its position in shares of Air Products & Chemicals by 6.7% during 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 buying an additional 200,000 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Air Products & Chemicals by 2.2% during 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 buying an additional 68,094 shares during the last quarter. Finally, Luminus Management LLC boosted its position in shares of Air Products & Chemicals by 14.3% during 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 buying an additional 240,918 shares during the last quarter. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

APD stock opened at $158.09 on Wednesday. Air Products & Chemicals, Inc. has a fifty-two week low of $148.44 and a fifty-two week high of $175.17. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.24 and a current ratio of 2.40. The stock has a market capitalization of $34.17 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 1.43 and a beta of 1.08.

Air Products & Chemicals (NYSE:APD) last posted its earnings results on Tuesday, November 6th. The basic materials company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.01. Air Products & Chemicals had a return on equity of 15.15% and a net margin of 17.13%. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the company earned $1.76 earnings per share. Air Products & Chemicals’s revenue was up 4.3% on a year-over-year basis. On average, equities analysts predict that Air Products & Chemicals, Inc. will post 7.45 earnings per share for the current year.

Several equities research analysts recently commented on APD shares. Zacks Investment Research cut Air Products & Chemicals from a “buy” rating to a “hold” rating in a research report on Monday, October 1st. ValuEngine raised Air Products & Chemicals from a “hold” rating to a “buy” rating in a research report on Thursday, October 4th. BNP Paribas started coverage on Air Products & Chemicals in a research report on Tuesday, October 2nd. They set an “outperform” rating on the stock. Vertical Research raised Air Products & Chemicals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 29th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $197.00 target price (up previously from $195.00) on shares of Air Products & Chemicals in a report on Friday, July 27th. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $188.07.

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Air Products & Chemicals Company Profile

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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