Baird Financial Group Inc. Acquires 40,370 Shares of Air Products & Chemicals, Inc. (APD)

Baird Financial Group Inc. raised its holdings in Air Products & Chemicals, Inc. (NYSE:APD) by 119.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,238 shares of the basic materials company’s stock after purchasing an additional 40,370 shares during the period. Baird Financial Group Inc.’s holdings in Air Products & Chemicals were worth $12,578,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of APD. Braun Bostich & Associates Inc. increased its stake in shares of Air Products & Chemicals by 542.6% in the second quarter. Braun Bostich & Associates Inc. now owns 739 shares of the basic materials company’s stock worth $115,000 after purchasing an additional 624 shares in the last quarter. NuWave Investment Management LLC grew its stake in Air Products & Chemicals by 8,770.0% during the third quarter. NuWave Investment Management LLC now owns 887 shares of the basic materials company’s stock valued at $148,000 after acquiring an additional 877 shares in the last quarter. Private Capital Group LLC grew its stake in Air Products & Chemicals by 52.6% during the second quarter. Private Capital Group LLC now owns 1,245 shares of the basic materials company’s stock valued at $195,000 after acquiring an additional 429 shares in the last quarter. Douglass Winthrop Advisors LLC purchased a new position in Air Products & Chemicals during the third quarter valued at approximately $200,000. Finally, Engineers Gate Manager LP purchased a new position in Air Products & Chemicals during the second quarter valued at approximately $202,000. Hedge funds and other institutional investors own 85.08% of the company’s stock.

In related news, Chairman Seifi Ghasemi bought 20,000 shares of the company’s stock in a transaction on Monday, November 12th. The stock was acquired at an average cost of $160.11 per share, for a total transaction of $3,202,200.00. Following the completion of the transaction, the chairman now directly owns 408,652 shares in the company, valued at approximately $65,429,271.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.37% of the company’s stock.

Several equities analysts recently commented on the stock. ValuEngine raised shares of Air Products & Chemicals from a “hold” rating to a “buy” rating in a research note on Friday, November 16th. Zacks Investment Research raised 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 note on Tuesday, November 13th. Citigroup reduced their price objective on shares of Air Products & Chemicals from $200.00 to $181.00 and set a “buy” rating for the company in a research note on Tuesday, November 13th. BMO Capital Markets set a $200.00 price objective on shares of Air Products & Chemicals and gave the company a “buy” rating in a research note on Thursday, November 8th. Finally, BNP Paribas assumed coverage on shares of Air Products & Chemicals in a research note on Tuesday, October 2nd. They set an “outperform” rating for the company. Fifteen investment analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average target price of $190.08.

Shares of Air Products & Chemicals stock opened at $160.87 on Friday. Air Products & Chemicals, Inc. has a 1 year low of $148.44 and a 1 year high of $175.17. The company has a market cap of $34.95 billion, a price-to-earnings ratio of 21.59, a P/E/G ratio of 1.65 and a beta of 1.08. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.17 and a quick ratio of 2.00.

Air Products & Chemicals (NYSE:APD) last announced its earnings results on Tuesday, November 6th. The basic materials company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.01. Air Products & Chemicals had a net margin of 16.77% and a return on equity of 15.30%. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period in the previous year, the business posted $1.76 earnings per share. Air Products & Chemicals’s revenue for the quarter was up 4.3% on a year-over-year basis. Equities research analysts predict that Air Products & Chemicals, Inc. will post 8.19 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, February 11th. Shareholders of record on Wednesday, January 2nd will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Monday, December 31st. This represents a $4.40 annualized dividend and a yield of 2.74%. Air Products & Chemicals’s payout ratio is presently 59.06%.

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Air Products & Chemicals Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, electronics and performance materials, 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 metals, glass, chemical processing, electronics, energy production and refining, food processing, metallurgical, medical, and general manufacturing.

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

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