Madison Investment Advisors LLC purchased a new stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 43,473 shares of the basic materials company's stock, valued at approximately $12,609,000.
Several other institutional investors and hedge funds also recently bought and sold shares of the business. SG Americas Securities LLC lifted its stake in shares of Air Products and Chemicals by 106.3% in the fourth quarter. SG Americas Securities LLC now owns 13,494 shares of the basic materials company's stock valued at $3,914,000 after buying an additional 6,952 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Air Products and Chemicals by 59.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 374,442 shares of the basic materials company's stock worth $111,488,000 after purchasing an additional 139,223 shares during the period. 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. Diversify Wealth Management LLC boosted its stake in shares of Air Products and Chemicals by 88.2% in the 4th quarter. Diversify Wealth Management LLC now owns 10,490 shares of the basic materials company's stock valued at $3,074,000 after purchasing an additional 4,916 shares in the last quarter. Finally, World Investment Advisors LLC raised its stake in shares of Air Products and Chemicals by 1,205.1% in the third quarter. World Investment Advisors LLC now owns 38,423 shares of the basic materials company's stock valued at $11,440,000 after acquiring an additional 35,479 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company's stock.
Insider Transactions at Air Products and Chemicals
In other news, VP Sean D. Major sold 4,500 shares of Air Products and Chemicals 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 $4,502,560.58. This trade 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 is available through this link. Also, insider Francesco Maione sold 2,016 shares of the company's stock in a transaction 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 sale, the insider now directly owns 3,834 shares of the company's stock, valued at $1,173,204. The trade was a 34.46 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,500 shares of company stock worth $4,842,604. Company insiders own 0.41% of the company's stock.
Wall Street Analyst Weigh In
APD has been the topic of several research analyst reports. UBS Group decreased their price target on shares of Air Products and Chemicals from $395.00 to $370.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. BMO Capital Markets lowered shares of Air Products and Chemicals from an "outperform" rating to a "market perform" rating in a report on Friday, February 7th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $320.00 target price (down from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. Citigroup cut their price target on Air Products and Chemicals from $373.00 to $345.00 and set a "buy" rating on the stock in a report on Tuesday. Finally, Bank of America cut Air Products and Chemicals from a "buy" rating to a "neutral" rating and set a $350.00 price objective on the stock. in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $341.47.
Read Our Latest Research Report on APD
Air Products and Chemicals Price Performance
Shares of NYSE APD traded up $1.88 during midday trading on Wednesday, reaching $295.04. The stock had a trading volume of 788,864 shares, compared to its average volume of 1,410,210. Air Products and Chemicals, Inc. has a 12-month low of $227.53 and a 12-month high of $341.14. The stock has a 50-day moving average of $312.75 and a 200-day moving average of $309.01. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 1.11. The company has a market capitalization of $65.64 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 3.07 and a beta of 0.85.
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%. As a group, research analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.
Air Products and Chemicals Increases Dividend
The firm also recently announced 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 annualized dividend and a yield of 2.43%. This is an increase 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 payout ratio is 41.58%.
About Air Products and Chemicals
(
Free Report)
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.
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