Renaissance Investment Group LLC Has $7.55 Million Stake in Air Products & Chemicals, Inc. (APD)

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Renaissance Investment Group LLC reduced its position in Air Products & Chemicals, Inc. (NYSE:APD) by 1.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,549 shares of the basic materials company’s stock after selling 742 shares during the quarter. Air Products & Chemicals makes up about 3.1% of Renaissance Investment Group LLC’s portfolio, making the stock its 10th largest position. Renaissance Investment Group LLC’s holdings in Air Products & Chemicals were worth $7,552,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Air Products & Chemicals by 1.3% during the third quarter. Vanguard Group Inc. now owns 18,589,029 shares of the basic materials company’s stock worth $3,105,298,000 after acquiring an additional 238,723 shares in the last quarter. Vanguard Group Inc boosted its stake in Air Products & Chemicals by 1.3% during the third quarter. Vanguard Group Inc now owns 18,589,029 shares of the basic materials company’s stock worth $3,105,298,000 after acquiring an additional 238,723 shares in the last quarter. BlackRock Inc. boosted its stake in Air Products & Chemicals by 1.9% during the fourth 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. Findlay Park Partners LLP boosted its stake in Air Products & Chemicals by 6.4% during the fourth 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, Northern Trust Corp boosted its stake in Air Products & Chemicals by 3.2% during the fourth quarter. Northern Trust Corp now owns 3,239,618 shares of the basic materials company’s stock worth $518,501,000 after acquiring an additional 100,657 shares in the last quarter. 87.52% of the stock is currently owned by institutional investors.

APD traded up $0.35 during trading on Friday, hitting $198.10. 1,322,938 shares of the company’s stock were exchanged, compared to its average volume of 1,149,251. The company has a current ratio of 2.21, a quick ratio of 2.03 and a debt-to-equity ratio of 0.30. Air Products & Chemicals, Inc. has a fifty-two week low of $148.44 and a fifty-two week high of $198.66. The company has a market cap of $43.51 billion, a price-to-earnings ratio of 26.59, a PEG ratio of 1.82 and a beta of 0.82.

Air Products & Chemicals (NYSE:APD) last released its quarterly earnings data on Friday, January 25th. The basic materials company reported $1.86 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.87 by ($0.01). Air Products & Chemicals had a return on equity of 15.13% and a net margin of 18.92%. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the previous year, the company posted $1.79 EPS. The business’s quarterly revenue was up .3% on a year-over-year basis. As a group, equities analysts forecast that Air Products & Chemicals, Inc. will post 8.18 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, April 1st will be issued a dividend of $1.16 per share. This is an increase from Air Products & Chemicals’s previous quarterly dividend of $1.10. The ex-dividend date is Friday, March 29th. This represents a $4.64 annualized dividend and a yield of 2.34%. Air Products & Chemicals’s dividend payout ratio is presently 62.28%.

Several research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Air Products & Chemicals from a “hold” rating to a “sell” rating in a research note on Wednesday. Credit Suisse Group increased their target price on shares of Air Products & Chemicals from $200.00 to $222.00 and gave the stock an “outperform” rating in a research note on Wednesday. KeyCorp increased their target price on shares of Air Products & Chemicals from $195.00 to $220.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. BMO Capital Markets increased their target price on shares of Air Products & Chemicals from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 9th. Finally, Bank of America lowered shares of Air Products & Chemicals from a “neutral” rating to an “underperform” rating and set a $170.00 target price on the stock. in a research note on Tuesday, January 8th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating and eleven have assigned a buy rating to the company. Air Products & Chemicals presently has an average rating of “Buy” and an average target price of $196.40.

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Air Products & Chemicals Company 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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