Air Products and Chemicals, Inc. (NYSE:APD) Shares Bought by Lord Abbett & CO. LLC


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Lord Abbett & CO. LLC raised its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 602,168 shares of the basic materials company’s stock after acquiring an additional 18,375 shares during the period. Lord Abbett & CO. LLC owned 0.27% of Air Products and Chemicals worth $164,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisory Alpha LLC acquired a new position in Air Products and Chemicals in the third quarter valued at $27,000. Adams Wealth Management purchased a new stake in shares of Air Products and Chemicals in the third quarter valued at about $30,000. Summit X LLC purchased a new stake in shares of Air Products and Chemicals in the third quarter valued at about $30,000. Baron Financial Group LLC purchased a new stake in shares of Air Products and Chemicals in the third quarter valued at about $30,000. Finally, Avion Wealth purchased a new stake in shares of Air Products and Chemicals in the fourth quarter valued at about $31,000. Institutional investors own 82.75% of the company’s stock.

A number of equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Air Products and Chemicals from $315.00 to $300.00 and set a “buy” rating for the company in a report on Friday, February 5th. Morgan Stanley cut their price target on shares of Air Products and Chemicals from $325.00 to $300.00 and set an “overweight” rating for the company in a report on Monday, November 16th. BMO Capital Markets cut their price target on shares of Air Products and Chemicals from $364.00 to $340.00 and set an “outperform” rating for the company in a report on Thursday, November 12th. Wells Fargo & Company cut their price target on shares of Air Products and Chemicals from $340.00 to $320.00 and set an “overweight” rating for the company in a report on Thursday, November 12th. Finally, Jefferies Financial Group cut shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and increased their price target for the stock from $307.00 to $324.00 in a report on Thursday, January 7th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Air Products and Chemicals currently has a consensus rating of “Buy” and a consensus price target of $295.69.

Shares of APD stock traded down $0.49 during trading hours on Tuesday, hitting $264.99. The company’s stock had a trading volume of 57 shares, compared to its average volume of 1,428,795. The business has a fifty day moving average of $272.76 and a 200-day moving average of $282.33. The stock has a market cap of $58.64 billion, a price-to-earnings ratio of 31.27, a P/E/G ratio of 3.63 and a beta of 0.76. Air Products and Chemicals, Inc. has a twelve month low of $167.43 and a twelve month high of $327.89. The company has a current ratio of 3.59, a quick ratio of 3.43 and a debt-to-equity ratio of 0.60.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings results on Wednesday, February 3rd. The basic materials company reported $2.12 EPS for the quarter, missing the consensus estimate of $2.19 by ($0.07). The business had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.34 billion. Air Products and Chemicals had a net margin of 21.30% and a return on equity of 15.48%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.14 earnings per share. On average, equities analysts expect that Air Products and Chemicals, Inc. will post 9.28 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 10th. Stockholders of record on Thursday, April 1st will be given a $1.50 dividend. The ex-dividend date of this dividend is Wednesday, March 31st. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.34. This represents a $6.00 annualized dividend and a dividend yield of 2.26%. Air Products and Chemicals’s dividend payout ratio is currently 63.96%.

About Air Products and 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, manufacturing, food and beverage, electronics, magnetic resonance imaging, energy production and refining, and metals.

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

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