KLP Kapitalforvaltning AS Increases Position in Air Products and Chemicals, Inc. (NYSE:APD)

KLP Kapitalforvaltning AS grew its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 3.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 76,853 shares of the basic materials company's stock after purchasing an additional 2,500 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Air Products and Chemicals were worth $22,665,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in APD. Mantle Ridge LP bought a new stake in Air Products and Chemicals during the fourth quarter valued at about $1,191,344,000. Norges Bank bought a new position in shares of Air Products and Chemicals during the fourth quarter worth $919,721,000. Bank of America Corp DE lifted its stake in Air Products and Chemicals by 129.4% in the 4th quarter. Bank of America Corp DE now owns 5,429,147 shares of the basic materials company's stock worth $1,574,670,000 after purchasing an additional 3,062,157 shares in the last quarter. Capital International Investors bought a new position in shares of Air Products and Chemicals during the 4th quarter valued at about $436,636,000. Finally, GAMMA Investing LLC lifted its position in shares of Air Products and Chemicals by 31,752.0% in the first quarter. GAMMA Investing LLC now owns 1,249,871 shares of the basic materials company's stock worth $368,612,000 after buying an additional 1,245,947 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors.

Air Products and Chemicals Trading Up 0.7%

APD stock traded up $2.02 during midday trading on Friday, reaching $299.24. The company's stock had a trading volume of 712,968 shares, compared to its average volume of 1,020,388. The firm has a market capitalization of $66.59 billion, a price-to-earnings ratio of 43.49, a PEG ratio of 5.74 and a beta of 0.85. Air Products and Chemicals, Inc. has a 1 year low of $243.69 and a 1 year high of $341.14. The stock has a fifty day simple moving average of $283.27 and a two-hundred day simple moving average of $290.66. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.85 and a current ratio of 1.00.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The basic materials company reported $2.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.83 by ($0.14). Air Products and Chemicals had a return on equity of 15.48% and a net margin of 12.76%. The firm had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same period last year, the company earned $2.85 EPS. The firm's revenue for the quarter was down .5% compared to the same quarter last year. On average, equities research analysts predict that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Wednesday, October 1st will be issued a dividend of $1.79 per share. The ex-dividend date is Wednesday, October 1st. This represents a $7.16 dividend on an annualized basis and a yield of 2.39%. Air Products and Chemicals's dividend payout ratio is currently 104.07%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Bank of America downgraded Air Products and Chemicals from a "neutral" rating to an "underperform" rating and reduced their price objective for the stock from $330.00 to $282.00 in a research note on Tuesday, April 15th. Mizuho boosted their price target on shares of Air Products and Chemicals from $310.00 to $325.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Wells Fargo & Company upped their price target on shares of Air Products and Chemicals from $320.00 to $345.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. UBS Group lifted their price objective on shares of Air Products and Chemicals from $328.00 to $344.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Finally, Citigroup upped their target price on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $334.75.

Air Products and Chemicals Company Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.