Hickory Asset Management Inc. Invests $590,000 in Air Products and Chemicals, Inc. (NYSE:APD)

Hickory Asset Management Inc. bought a new position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,034 shares of the basic materials company's stock, valued at approximately $590,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC boosted its stake in Air Products and Chemicals by 106.3% during the fourth quarter. SG Americas Securities LLC now owns 13,494 shares of the basic materials company's stock worth $3,914,000 after acquiring an additional 6,952 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Air Products and Chemicals by 59.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 374,442 shares of the basic materials company's stock valued at $111,488,000 after buying an additional 139,223 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in shares of Air Products and Chemicals during the 4th quarter worth approximately $7,269,000. Forsta AP Fonden boosted its stake in shares of Air Products and Chemicals by 13.4% in the 3rd quarter. Forsta AP Fonden now owns 45,700 shares of the basic materials company's stock worth $13,607,000 after buying an additional 5,400 shares during the last quarter. Finally, Diversify Wealth Management LLC grew its holdings in shares of Air Products and Chemicals by 88.2% in the fourth quarter. Diversify Wealth Management LLC now owns 10,490 shares of the basic materials company's stock valued at $3,074,000 after acquiring an additional 4,916 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Air Products and Chemicals news, VP Sean D. Major sold 4,500 shares of the company's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $315.46, for a total value of $1,419,570.00. Following the sale, the vice president now owns 14,273 shares in the company, valued at approximately $4,502,560.58. This represents a 23.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Wilbur Mok sold 1,300 shares of Air Products and Chemicals stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $315.88, for a total transaction of $410,644.00. Following the transaction, the insider now owns 3,193 shares of the company's stock, valued at $1,008,604.84. The trade was a 28.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,411 shares of company stock worth $4,186,642. 0.41% of the stock is owned by corporate insiders.

Air Products and Chemicals Trading Down 0.0 %

NYSE:APD traded down $0.11 during trading hours on Wednesday, hitting $316.89. The company had a trading volume of 971,548 shares, compared to its average volume of 1,782,339. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 0.96. The stock has a 50-day moving average price of $308.49 and a 200 day moving average price of $304.19. The company has a market capitalization of $70.50 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 3.13 and a beta of 0.85. Air Products and Chemicals, Inc. has a 52 week low of $225.26 and a 52 week high of $341.14.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced 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%. On average, equities research analysts predict that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be paid a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 2.26%. This is a boost from Air Products and Chemicals's previous quarterly dividend of $1.77. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals's dividend payout ratio is presently 41.11%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on APD shares. Barclays raised Air Products and Chemicals from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $315.00 to $365.00 in a research report on Friday, January 24th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $320.00 price target (down from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. Sanford C. Bernstein upgraded shares of Air Products and Chemicals from a "market perform" rating to an "outperform" rating and set a $375.00 price objective for the company in a report on Friday, January 31st. Wells Fargo & Company increased their target price on shares of Air Products and Chemicals from $350.00 to $365.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. Finally, Citigroup increased their price target on Air Products and Chemicals from $345.00 to $365.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $339.94.

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.