Air Products & Chemicals, Inc. (NYSE:APD) Position Lifted by OppenheimerFunds Inc.

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OppenheimerFunds Inc. lifted its position in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 2,347.0% during the first quarter, HoldingsChannel reports. The firm owned 176,698 shares of the basic materials company’s stock after acquiring an additional 169,477 shares during the period. OppenheimerFunds Inc.’s holdings in Air Products & Chemicals were worth $33,742,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. 1832 Asset Management L.P. lifted its position in shares of Air Products & Chemicals by 2,002.7% during the fourth quarter. 1832 Asset Management L.P. now owns 353,219 shares of the basic materials company’s stock valued at $56,469,000 after purchasing an additional 336,421 shares in the last quarter. Truvestments Capital LLC bought a new stake in Air Products & Chemicals in the first quarter worth about $79,000. Bfsg LLC bought a new stake in Air Products & Chemicals in the first quarter worth about $605,000. Family Firm Inc. bought a new stake in Air Products & Chemicals in the first quarter worth about $201,000. Finally, PagnatoKarp Partners LLC raised its position in Air Products & Chemicals by 45.7% in the first quarter. PagnatoKarp Partners LLC now owns 3,270 shares of the basic materials company’s stock worth $628,000 after acquiring an additional 1,026 shares during the period. 87.13% of the stock is currently owned by institutional investors.

Several brokerages have commented on APD. Credit Suisse Group lifted their price objective on shares of Air Products & Chemicals from $200.00 to $222.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Zacks Investment Research lowered shares of Air Products & Chemicals from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. BMO Capital Markets lifted their price objective on shares of Air Products & Chemicals to $235.00 and gave the stock an “outperform” rating in a research report on Monday, May 13th. JPMorgan Chase & Co. lifted 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. Finally, Barclays lifted their price objective on shares of Air Products & Chemicals from $184.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $213.00.

In related news, VP Russell A. Flugel sold 2,970 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $207.01, for a total transaction of $614,819.70. Following the completion of the transaction, the vice president now owns 6,387 shares of the company’s stock, valued at $1,322,172.87. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.35% of the stock is currently owned by insiders.

Shares of APD traded up $0.97 during trading hours on Wednesday, hitting $220.02. The company’s stock had a trading volume of 30,422 shares, compared to its average volume of 1,199,399. The company has a market capitalization of $48.33 billion, a price-to-earnings ratio of 29.49, a PEG ratio of 2.30 and a beta of 0.79. The company has a quick ratio of 2.16, a current ratio of 2.36 and a debt-to-equity ratio of 0.29. Air Products & Chemicals, Inc. has a 52-week low of $148.44 and a 52-week high of $224.61.

Air Products & Chemicals (NYSE:APD) last posted its earnings results on Wednesday, April 24th. The basic materials company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.04. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.23 billion. Air Products & Chemicals had a net margin of 18.90% and a return on equity of 15.28%. The company’s revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the company earned $1.71 earnings per share. On average, sell-side analysts expect that Air Products & Chemicals, Inc. will post 8.22 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 12th. Investors of record on Monday, July 1st will be paid a dividend of $1.16 per share. The ex-dividend date is Friday, June 28th. This represents a $4.64 annualized dividend and a yield of 2.11%. Air Products & Chemicals’s dividend payout ratio is currently 62.28%.

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Air Products & Chemicals 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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