Barrow Hanley Mewhinney & Strauss LLC Purchases 122,676 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Barrow Hanley Mewhinney & Strauss LLC increased its position in Air Products and Chemicals, Inc. (NYSE:APD) by 4.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 3,062,859 shares of the basic materials company’s stock after purchasing an additional 122,676 shares during the period. Air Products and Chemicals comprises about 2.7% of Barrow Hanley Mewhinney & Strauss LLC’s investment portfolio, making the stock its 3rd biggest holding. Barrow Hanley Mewhinney & Strauss LLC owned 1.38% of Air Products and Chemicals worth $790,371,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Capital Research Global Investors increased its stake in Air Products and Chemicals by 62.3% in the 1st quarter. Capital Research Global Investors now owns 11,230,051 shares of the basic materials company’s stock valued at $2,720,704,000 after buying an additional 4,309,040 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Air Products and Chemicals by 127.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,792,470 shares of the basic materials company’s stock valued at $720,597,000 after acquiring an additional 1,564,169 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Air Products and Chemicals by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 2,034,818 shares of the basic materials company’s stock worth $525,085,000 after acquiring an additional 5,140 shares in the last quarter. National Bank of Canada FI boosted its position in Air Products and Chemicals by 2,931.0% during the second quarter. National Bank of Canada FI now owns 1,796,531 shares of the basic materials company’s stock valued at $444,352,000 after purchasing an additional 1,737,260 shares during the last quarter. Finally, Clearbridge Investments LLC grew its stake in Air Products and Chemicals by 50.6% in the first quarter. Clearbridge Investments LLC now owns 1,547,202 shares of the basic materials company’s stock valued at $374,841,000 after purchasing an additional 520,179 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

APD opened at $287.98 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.77. The stock’s 50 day moving average price is $274.23 and its two-hundred day moving average price is $259.67. The firm has a market capitalization of $64.02 billion, a P/E ratio of 25.99, a price-to-earnings-growth ratio of 3.70 and a beta of 0.82. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $296.00.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data on Thursday, August 1st. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.16. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.04 billion. On average, equities analysts forecast that Air Products and Chemicals, Inc. will post 12.32 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, October 1st will be issued a dividend of $1.77 per share. The ex-dividend date is Tuesday, October 1st. This represents a $7.08 annualized dividend and a dividend yield of 2.46%. Air Products and Chemicals’s payout ratio is 63.90%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on APD. Barclays lifted their price target on Air Products and Chemicals from $290.00 to $295.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Citigroup boosted their target price on shares of Air Products and Chemicals from $280.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. The Goldman Sachs Group raised their price target on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a report on Monday, August 5th. StockNews.com cut shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, September 6th. Finally, Morgan Stanley raised their target price on Air Products and Chemicals from $240.00 to $280.00 and gave the company an “equal weight” rating in a report on Wednesday, June 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Air Products and Chemicals presently has an average rating of “Hold” and a consensus price target of $297.40.

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.