Mercer Global Advisors Inc. ADV Increases Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Mercer Global Advisors Inc. ADV raised its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 1.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,304 shares of the basic materials company’s stock after buying an additional 235 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Air Products and Chemicals were worth $3,462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in APD. BlackRock Inc. grew its holdings in Air Products and Chemicals by 4.4% during the 4th quarter. BlackRock Inc. now owns 16,162,103 shares of the basic materials company’s stock valued at $4,415,809,000 after buying an additional 686,175 shares in the last quarter. Norges Bank bought a new position in shares of Air Products and Chemicals during the 4th quarter valued at approximately $184,142,000. Viking Global Investors LP bought a new position in shares of Air Products and Chemicals during the 4th quarter valued at approximately $173,932,000. Clarus Group Inc. bought a new position in shares of Air Products and Chemicals during the 1st quarter valued at approximately $3,154,000. Finally, Close Asset Management Ltd bought a new position in shares of Air Products and Chemicals during the 1st quarter valued at approximately $121,479,000. 82.01% of the stock is owned by institutional investors and hedge funds.

APD has been the subject of a number of research reports. Morgan Stanley increased their target price on Air Products and Chemicals from $300.00 to $335.00 and gave the company an “overweight” rating in a research report on Wednesday, May 12th. Cowen raised their price target on Air Products and Chemicals from $340.00 to $360.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 11th. Wolfe Research assumed coverage on Air Products and Chemicals in a research report on Wednesday. They issued an “outperform” rating for the company. Credit Suisse Group restated an “outperform” rating and issued a $302.00 price target on shares of Air Products and Chemicals in a research report on Monday, March 22nd. Finally, HSBC lowered their price target on Air Products and Chemicals from $275.00 to $269.00 and set a “hold” rating for the company in a research report on Thursday, June 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $311.07.

NYSE:APD opened at $298.60 on Friday. The company has a market capitalization of $66.08 billion, a P/E ratio of 35.13, a price-to-earnings-growth ratio of 2.93 and a beta of 0.76. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.76 and a current ratio of 2.91. Air Products and Chemicals, Inc. has a twelve month low of $229.17 and a twelve month high of $327.89. The stock’s fifty day simple moving average is $293.42.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings results on Sunday, May 9th. The basic materials company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.12 by ($0.04). The firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Air Products and Chemicals had a net margin of 20.39% and a return on equity of 14.75%. The business’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.04 EPS. On average, analysts forecast that Air Products and Chemicals, Inc. will post 9.1 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 9th. Stockholders of record on Thursday, July 1st will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Wednesday, June 30th. This represents a $6.00 annualized dividend and a dividend yield of 2.01%. Air Products and Chemicals’s dividend payout ratio is currently 71.60%.

Air Products and Chemicals 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, 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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