Air Products & Chemicals, Inc. (NYSE:APD) Shares Purchased by Northern Trust Corp

Northern Trust Corp boosted its holdings in Air Products & Chemicals, Inc. (NYSE:APD) by 0.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,262,098 shares of the basic materials company’s stock after purchasing an additional 22,480 shares during the period. Northern Trust Corp owned about 1.48% of Air Products & Chemicals worth $622,929,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in APD. Vanguard Group Inc grew its stake in shares of Air Products & Chemicals by 1.3% during the 3rd quarter. Vanguard Group Inc now owns 18,589,029 shares of the basic materials company’s stock valued at $3,105,298,000 after acquiring an additional 238,723 shares during the period. BlackRock Inc. raised its holdings in shares of Air Products & Chemicals by 1.9% during the 4th quarter. BlackRock Inc. now owns 17,129,190 shares of the basic materials company’s stock worth $2,741,528,000 after acquiring an additional 317,875 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Air Products & Chemicals by 0.6% during the 1st quarter. Wells Fargo & Company MN now owns 3,943,516 shares of the basic materials company’s stock worth $753,054,000 after acquiring an additional 23,089 shares in the last quarter. Findlay Park Partners LLP raised its holdings in shares of Air Products & Chemicals by 6.4% during the 4th quarter. Findlay Park Partners LLP now owns 3,284,423 shares of the basic materials company’s stock worth $525,672,000 after acquiring an additional 196,923 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Air Products & Chemicals by 7.6% during the 4th quarter. Geode Capital Management LLC now owns 2,636,556 shares of the basic materials company’s stock valued at $421,179,000 after buying an additional 187,347 shares during the period. 87.06% of the stock is owned by institutional investors and hedge funds.

Shares of APD stock traded up $2.87 during trading hours on Friday, reaching $226.37. 1,521,900 shares of the company’s stock were exchanged, compared to its average volume of 1,183,335. The business’s 50 day simple moving average is $213.34. The firm has a market cap of $49.29 billion, a P/E ratio of 30.39, a P/E/G ratio of 2.22 and a beta of 0.80. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 2.36. Air Products & Chemicals, Inc. has a 1 year low of $148.44 and a 1 year high of $226.65.

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

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Stockholders of record on Monday, July 1st will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Friday, June 28th. Air Products & Chemicals’s payout ratio is 62.28%.

In related news, VP Russell A. Flugel sold 2,970 shares of Air Products & Chemicals stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $207.01, for a total value of $614,819.70. Following the completion of the transaction, the vice president now directly owns 6,387 shares in the company, valued at $1,322,172.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.35% of the stock is currently owned by insiders.

A number of analysts have weighed in on the company. KeyCorp increased their target price on Air Products & Chemicals from $195.00 to $220.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. raised their price objective on Air Products & Chemicals from $167.00 to $207.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Bank of America raised Air Products & Chemicals from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $170.00 to $215.00 in a report on Thursday, April 25th. Deutsche Bank raised their price objective on Air Products & Chemicals from $182.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Finally, Credit Suisse Group lifted their price target on Air Products & Chemicals from $188.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $213.00.

About Air Products & Chemicals

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.

Read More: Systematic Risk and Investors

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

Receive News & Ratings for Air Products & Chemicals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Air Products & Chemicals and related companies with MarketBeat.com's FREE daily email newsletter.