29,290 Shares in Air Products and Chemicals, Inc. (NYSE:APD) Purchased by Exane Asset Management

Exane Asset Management acquired a new position in shares of Air Products and Chemicals, Inc. (NYSE:APD) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 29,290 shares of the basic materials company’s stock, valued at approximately $8,796,000. Air Products and Chemicals makes up about 4.9% of Exane Asset Management’s holdings, making the stock its 8th biggest holding.

Several other hedge funds have also added to or reduced their stakes in the stock. Pathway Financial Advisers LLC increased its position in Air Products and Chemicals by 29,954.1% in the third quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company’s stock worth $861,722,000 after buying an additional 2,884,581 shares during the last quarter. ING Groep NV grew its stake in shares of Air Products and Chemicals by 240.7% during the 3rd quarter. ING Groep NV now owns 1,023,433 shares of the basic materials company’s stock worth $304,717,000 after acquiring an additional 723,019 shares during the period. Mizuho Markets Americas LLC increased its holdings in Air Products and Chemicals by 318.7% in the 3rd quarter. Mizuho Markets Americas LLC now owns 948,723 shares of the basic materials company’s stock worth $282,473,000 after acquiring an additional 722,132 shares during the last quarter. Van ECK Associates Corp raised its stake in Air Products and Chemicals by 1,685.4% in the 3rd quarter. Van ECK Associates Corp now owns 764,489 shares of the basic materials company’s stock valued at $249,698,000 after acquiring an additional 721,671 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in Air Products and Chemicals by 29,957.6% during the third quarter. International Assets Investment Management LLC now owns 718,075 shares of the basic materials company’s stock valued at $2,138,000,000 after purchasing an additional 715,686 shares during the last quarter. Institutional investors own 81.66% of the company’s stock.

Analyst Upgrades and Downgrades

APD has been the subject of several recent research reports. Sanford C. Bernstein upgraded shares of Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 target price for the company in a research note on Friday, January 31st. Citigroup boosted their target price on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a report on Monday, November 11th. UBS Group raised their price target on Air Products and Chemicals from $375.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Barclays upgraded Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $315.00 to $365.00 in a research note on Friday, January 24th. Finally, Redburn Atlantic upgraded Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 target price for the company in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $339.94.

Air Products and Chemicals Stock Performance

NYSE APD opened at $310.66 on Friday. Air Products and Chemicals, Inc. has a 52-week low of $213.80 and a 52-week high of $341.14. The company has a fifty day moving average of $310.30 and a 200-day moving average of $300.85. The company has a market capitalization of $69.09 billion, a P/E ratio of 18.08, a P/E/G ratio of 3.55 and a beta of 0.85. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data on Thursday, February 6th. The basic materials company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.27). Air Products and Chemicals had a return on equity of 16.34% and a net margin of 31.64%. As a group, equities research analysts predict that Air Products and Chemicals, Inc. will post 12.76 EPS for the current fiscal year.

Air Products and Chemicals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be given a dividend of $1.79 per share. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 41.21%.

Air Products and Chemicals Company Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.