Sumitomo Life Insurance Co. Sells 1,025 Shares of Air Products & Chemicals, Inc. (APD)

Sumitomo Life Insurance Co. lowered its position in Air Products & Chemicals, Inc. (NYSE:APD) by 9.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,850 shares of the basic materials company’s stock after selling 1,025 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Air Products & Chemicals were worth $1,881,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of APD. LPL Financial LLC lifted its position in shares of Air Products & Chemicals by 12.0% during the 3rd quarter. LPL Financial LLC now owns 16,193 shares of the basic materials company’s stock worth $2,705,000 after buying an additional 1,738 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Air Products & Chemicals by 15.5% during the 3rd quarter. Pacer Advisors Inc. now owns 11,728 shares of the basic materials company’s stock worth $1,959,000 after buying an additional 1,576 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Air Products & Chemicals by 38.8% during the 3rd quarter. AQR Capital Management LLC now owns 456,940 shares of the basic materials company’s stock worth $76,332,000 after buying an additional 127,758 shares during the last quarter. Resources Management Corp CT ADV purchased a new stake in shares of Air Products & Chemicals during the 3rd quarter worth approximately $875,000. Finally, Captrust Financial Advisors lifted its position in shares of Air Products & Chemicals by 190.4% during the 3rd quarter. Captrust Financial Advisors now owns 2,053 shares of the basic materials company’s stock worth $343,000 after buying an additional 1,346 shares during the last quarter. Institutional investors own 87.52% of the company’s stock.

Shares of Air Products & Chemicals stock opened at $197.10 on Wednesday. The firm has a market capitalization of $42.59 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 1.82 and a beta of 0.82. Air Products & Chemicals, Inc. has a 12 month low of $148.44 and a 12 month high of $197.33. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.03 and a current ratio of 2.21.

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

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, April 1st will be paid a $1.16 dividend. This is a boost from Air Products & Chemicals’s previous quarterly dividend of $1.10. This represents a $4.64 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Friday, March 29th. Air Products & Chemicals’s payout ratio is currently 62.28%.

APD has been the subject of several recent analyst reports. Bank of America downgraded shares of Air Products & Chemicals from a “neutral” rating to an “underperform” rating and set a $170.00 price objective for the company. in a research report on Tuesday, January 8th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Air Products & Chemicals from a “hold” rating to a “buy” rating and set a $179.00 price objective for the company in a research report on Tuesday, January 8th. Credit Suisse Group boosted their price objective on shares of Air Products & Chemicals from $188.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. BMO Capital Markets boosted their price objective on shares of Air Products & Chemicals from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 9th. Finally, KeyCorp boosted their price objective on shares of Air Products & Chemicals from $195.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating and twelve have given a buy rating to the stock. Air Products & Chemicals currently has an average rating of “Buy” and a consensus target price of $194.20.

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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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