United Bank VA increased its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 37.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,552 shares of the basic materials company’s stock after buying an additional 5,577 shares during the period. Air Products and Chemicals comprises about 2.9% of United Bank VA’s portfolio, making the stock its 19th largest position. United Bank VA’s holdings in Air Products and Chemicals were worth $2,781,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. First Eagle Investment Management LLC increased its stake in shares of Air Products and Chemicals by 243.2% in the first quarter. First Eagle Investment Management LLC now owns 1,789,910 shares of the basic materials company’s stock valued at $242,157,000 after buying an additional 1,268,305 shares during the last quarter. FMR LLC increased its stake in shares of Air Products and Chemicals by 26.3% in the fourth quarter. FMR LLC now owns 4,517,907 shares of the basic materials company’s stock valued at $649,766,000 after buying an additional 940,864 shares during the last quarter. Norges Bank bought a new stake in shares of Air Products and Chemicals during the fourth quarter valued at approximately $99,732,000. Fred Alger Management Inc. increased its stake in shares of Air Products and Chemicals by 65.4% in the fourth quarter. Fred Alger Management Inc. now owns 1,585,065 shares of the basic materials company’s stock valued at $227,964,000 after buying an additional 626,681 shares during the last quarter. Finally, Luminus Management LLC bought a new stake in shares of Air Products and Chemicals during the fourth quarter valued at approximately $83,574,000. 89.66% of the stock is owned by institutional investors and hedge funds.

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

Air Products and Chemicals, Inc. (NYSE:APD) opened at 145.51 on Friday. Air Products and Chemicals, Inc. has a 12 month low of $122.64 and a 12 month high of $150.45. The firm has a market capitalization of $31.68 billion, a PE ratio of 10.06 and a beta of 1.25. The stock has a 50 day moving average of $144.32 and a 200 day moving average of $142.24.

Air Products and Chemicals (NYSE:APD) last issued its earnings results on Thursday, April 27th. The basic materials company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.05. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.84 billion. Air Products and Chemicals had a net margin of 36.19% and a return on equity of 19.26%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the business earned $1.82 earnings per share. On average, equities analysts predict that Air Products and Chemicals, Inc. will post $6.15 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, July 3rd will be given a dividend of $0.95 per share. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $3.80 dividend on an annualized basis and a yield of 2.61%. Air Products and Chemicals’s dividend payout ratio is presently 26.28%.

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APD has been the subject of several research analyst reports. Deutsche Bank AG raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and lifted their target price for the stock from $148.00 to $160.00 in a report on Monday, May 1st. Zacks Investment Research downgraded shares of Air Products and Chemicals from a “buy” rating to a “hold” rating in a report on Monday, May 1st. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $155.00 target price on shares of Air Products and Chemicals in a report on Tuesday, May 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. Air Products and Chemicals has an average rating of “Buy” and an average price target of $153.71.

Air Products and Chemicals Company Profile

Air Products and Chemicals, Inc is an industrial gases company. The Company’s Industrial Gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. The Company operates through seven segments: Industrial Gases-Americas, Industrial Gases-Europe, Middle East, and Africa (EMEA), Industrial Gases-Asia, Industrial Gases-Global, Materials Technologies, Energy-from-Waste, and Corporate and other.

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