CIBC Asset Management Inc Has $11.50 Million Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

CIBC Asset Management Inc lifted its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 2.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 39,649 shares of the basic materials company's stock after purchasing an additional 937 shares during the quarter. CIBC Asset Management Inc's holdings in Air Products and Chemicals were worth $11,500,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Truvestments Capital LLC acquired a new position in shares of Air Products and Chemicals in the 3rd quarter valued at $25,000. Sierra Ocean LLC acquired a new position in Air Products and Chemicals during the fourth quarter valued at approximately $30,000. Raleigh Capital Management Inc. lifted its stake in Air Products and Chemicals by 69.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company's stock valued at $30,000 after purchasing an additional 43 shares during the last quarter. Financial Life Planners acquired a new stake in shares of Air Products and Chemicals during the fourth quarter worth $31,000. Finally, Iron Horse Wealth Management LLC raised its holdings in Air Products and Chemicals by 88.7% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company's stock valued at $35,000 after acquiring an additional 55 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Air Products and Chemicals Trading Down 1.4 %

Shares of Air Products and Chemicals stock traded down $4.26 during trading hours on Friday, reaching $310.02. The stock had a trading volume of 1,392,858 shares, compared to its average volume of 1,750,034. Air Products and Chemicals, Inc. has a 1 year low of $227.10 and a 1 year high of $341.14. The firm has a 50 day simple moving average of $308.55 and a two-hundred day simple moving average of $304.26. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $68.97 billion, a price-to-earnings ratio of 18.00, a P/E/G ratio of 3.14 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share (EPS) 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%. As a group, equities research analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be paid a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Tuesday, April 1st. This is a positive change from Air Products and Chemicals's previous quarterly dividend of $1.77. Air Products and Chemicals's dividend payout ratio (DPR) is currently 41.11%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on APD shares. JPMorgan Chase & Co. restated a "neutral" rating and issued a $320.00 target price (down previously from $345.00) on shares of Air Products and Chemicals in a research report on Friday, February 7th. Citigroup increased their price target on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the company a "buy" rating in a research report on Monday, November 11th. StockNews.com downgraded Air Products and Chemicals from a "hold" rating to a "sell" rating in a research note on Friday, February 7th. Barclays upgraded Air Products and Chemicals from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $315.00 to $365.00 in a research note on Friday, January 24th. 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, seven have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $339.94.

Insider Activity

In related news, VP Sean D. Major sold 4,500 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $315.46, for a total transaction of $1,419,570.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Francesco Maione sold 2,016 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $306.00, for a total transaction of $616,896.00. Following the completion of the sale, the insider now directly owns 3,834 shares of the company's stock, valued at $1,173,204. This represents a 34.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,911 shares of company stock worth $4,660,897. 0.41% of the stock is owned by company insiders.

Air Products and Chemicals 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.