Allstate Corp Takes Position in Air Products and Chemicals, Inc. (NYSE:APD)

Allstate Corp purchased a new stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 6,608 shares of the basic materials company's stock, valued at approximately $1,917,000.

Other hedge funds have also recently modified their holdings of the company. Generali Investments Management Co LLC acquired a new position in Air Products and Chemicals in the 4th quarter valued at about $26,000. Sierra Ocean LLC acquired a new position in Air Products and Chemicals in the fourth quarter valued at approximately $30,000. Raleigh Capital Management Inc. grew its position in Air Products and Chemicals by 69.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company's stock worth $30,000 after acquiring an additional 43 shares during the period. Financial Life Planners acquired a new stake in Air Products and Chemicals during the fourth quarter worth $31,000. Finally, WR Wealth Planners LLC raised its position in Air Products and Chemicals by 40.3% in the fourth quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company's stock valued at $31,000 after purchasing an additional 31 shares during the period. Hedge funds and other institutional investors own 81.66% of the company's stock.

Insider Buying and Selling at Air Products and Chemicals

In related news, insider Francesco Maione sold 2,016 shares of Air Products and Chemicals stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $306.00, for a total value of $616,896.00. Following the transaction, the insider now owns 3,834 shares of the company's stock, valued at approximately $1,173,204. This trade represents a 34.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Sean D. Major sold 4,500 shares of Air Products and Chemicals stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $315.46, for a total transaction of $1,419,570.00. Following the completion of the transaction, the vice president now directly owns 14,273 shares in the company, valued at approximately $4,502,560.58. This trade represents a 23.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 15,500 shares of company stock valued at $4,842,604. 0.41% of the stock is owned by insiders.

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Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Barclays reduced their price objective on shares of Air Products and Chemicals from $365.00 to $355.00 and set an "overweight" rating on the stock in a report on Tuesday. JPMorgan Chase & Co. restated a "neutral" rating and issued a $320.00 price objective (down from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. BNP Paribas upgraded shares of Air Products and Chemicals to a "strong-buy" rating in a report on Tuesday, February 11th. Sanford C. Bernstein upgraded Air Products and Chemicals from a "market perform" rating to an "outperform" rating and set a $375.00 price target on the stock in a research note on Friday, January 31st. Finally, Wells Fargo & Company lifted their price objective on Air Products and Chemicals from $350.00 to $365.00 and gave the company an "overweight" rating in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Air Products and Chemicals presently has an average rating of "Moderate Buy" and an average price target of $340.88.

Air Products and Chemicals Stock Performance

NYSE APD traded down $10.61 during trading hours on Thursday, hitting $284.35. The company had a trading volume of 295,535 shares, compared to its average volume of 1,477,279. Air Products and Chemicals, Inc. has a fifty-two week low of $227.53 and a fifty-two week high of $341.14. The firm has a market cap of $63.26 billion, a P/E ratio of 16.51, a price-to-earnings-growth ratio of 3.07 and a beta of 0.88. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. The business has a fifty day simple moving average of $310.28 and a 200-day simple moving average of $309.48.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $3.13 by ($0.27). Air Products and Chemicals had a net margin of 31.88% and a return on equity of 15.78%. Equities analysts predict that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be issued a dividend of $1.79 per share. This is a positive change from Air Products and Chemicals's previous quarterly dividend of $1.77. This represents a $7.16 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals's payout ratio is presently 41.58%.

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.