Empowered Funds LLC Raises Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Empowered Funds LLC raised its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 87.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,637 shares of the basic materials company's stock after buying an additional 4,970 shares during the quarter. Empowered Funds LLC's holdings in Air Products and Chemicals were worth $3,066,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB grew its position in Air Products and Chemicals by 0.9% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 21,485 shares of the basic materials company's stock worth $6,232,000 after buying an additional 186 shares in the last quarter. Apollon Wealth Management LLC boosted its holdings in shares of Air Products and Chemicals by 1.6% in the 4th quarter. Apollon Wealth Management LLC now owns 14,508 shares of the basic materials company's stock worth $4,208,000 after purchasing an additional 227 shares in the last quarter. Exane Asset Management purchased a new position in shares of Air Products and Chemicals in the 4th quarter worth about $8,796,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Air Products and Chemicals by 7.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 27,929 shares of the basic materials company's stock worth $8,101,000 after purchasing an additional 1,962 shares in the last quarter. Finally, Ledyard National Bank boosted its holdings in shares of Air Products and Chemicals by 7.4% in the 4th quarter. Ledyard National Bank now owns 1,259 shares of the basic materials company's stock worth $365,000 after purchasing an additional 87 shares in the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Trading Up 0.5 %

APD traded up $1.58 during midday trading on Monday, reaching $316.74. 1,171,412 shares of the company's stock traded hands, compared to its average volume of 1,907,431. The firm has a fifty day moving average of $308.36 and a two-hundred day moving average of $303.65. The stock has a market capitalization of $70.44 billion, a price-to-earnings ratio of 18.39, a P/E/G ratio of 3.47 and a beta of 0.85. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 1.34. Air Products and Chemicals, Inc. has a 52 week low of $220.26 and a 52 week high of $341.14.

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 (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.27). Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. On average, equities analysts anticipate that Air Products and Chemicals, Inc. will post 12.77 earnings per share for the current fiscal year.

Air Products and Chemicals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be given a $1.79 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $7.16 annualized dividend and a dividend yield of 2.26%. 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 is currently 41.11%.

Analyst Ratings Changes

A number of research firms have recently issued reports on APD. BMO Capital Markets cut Air Products and Chemicals from an "outperform" rating to a "market perform" rating in a report on Friday, February 7th. Barclays upgraded Air Products and Chemicals from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $315.00 to $365.00 in a report on Friday, January 24th. Citigroup upped their price objective on Air Products and Chemicals from $345.00 to $365.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Bank of America cut Air Products and Chemicals from a "buy" rating to a "neutral" rating and set a $350.00 price objective for the company. in a report on Monday, January 27th. Finally, BNP Paribas raised Air Products and Chemicals to a "strong-buy" rating in a research note on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $339.94.

Insider Transactions at Air Products and Chemicals

In related news, CFO Melissa N. Schaeffer sold 3,233 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $307.32, for a total value of $993,565.56. Following the sale, the chief financial officer now owns 10,680 shares in the company, valued at $3,282,177.60. This represents a 23.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Francesco Maione sold 2,016 shares of the company'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 value of $616,896.00. Following the completion of the sale, the insider now owns 3,834 shares in the company, valued at $1,173,204. The trade was a 34.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,749 shares of company stock valued at $3,030,032. Corporate insiders own 0.41% of the company's stock.

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.