Magnetar Financial LLC Invests $716,000 in Air Products and Chemicals, Inc. (NYSE:APD)

Magnetar Financial LLC purchased a new stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,470 shares of the basic materials company's stock, valued at approximately $716,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of Air Products and Chemicals by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,874,347 shares of the basic materials company's stock worth $1,448,570,000 after purchasing an additional 88,806 shares during the period. Raymond James Financial Inc. acquired a new position in Air Products and Chemicals during the fourth quarter valued at approximately $885,371,000. Bank of New York Mellon Corp grew its stake in Air Products and Chemicals by 1.5% during the fourth quarter. Bank of New York Mellon Corp now owns 2,088,449 shares of the basic materials company's stock worth $605,734,000 after buying an additional 30,888 shares during the period. National Bank of Canada FI increased its position in shares of Air Products and Chemicals by 3.9% in the third quarter. National Bank of Canada FI now owns 1,867,290 shares of the basic materials company's stock worth $555,967,000 after acquiring an additional 70,759 shares in the last quarter. Finally, Stifel Financial Corp increased its holdings in Air Products and Chemicals by 1.2% in the 3rd quarter. Stifel Financial Corp now owns 1,633,381 shares of the basic materials company's stock valued at $486,343,000 after purchasing an additional 19,209 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

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Air Products and Chemicals Stock Performance

Air Products and Chemicals stock traded up $1.88 during mid-day trading on Wednesday, reaching $295.04. The company's stock had a trading volume of 788,943 shares, compared to its average volume of 1,410,210. The firm has a market cap of $65.64 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 3.07 and a beta of 0.85. Air Products and Chemicals, Inc. has a twelve month low of $227.53 and a twelve month high of $341.14. The business has a 50 day moving average price of $312.75 and a 200-day moving average price of $309.01. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The basic materials company reported $2.86 earnings per share for the quarter, missing analysts' consensus estimates 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%. Sell-side 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 business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be issued a $1.79 dividend. This is an increase from Air Products and Chemicals's previous quarterly dividend of $1.77. The ex-dividend date is Tuesday, April 1st. This represents a $7.16 annualized dividend and a dividend yield of 2.43%. Air Products and Chemicals's dividend payout ratio (DPR) is 41.58%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on APD shares. BNP Paribas upgraded Air Products and Chemicals to a "strong-buy" rating in a report on Tuesday, February 11th. Bank of America downgraded shares of Air Products and Chemicals from a "buy" rating to a "neutral" rating and set a $350.00 target price for the company. in a research note on Monday, January 27th. Wells Fargo & Company lifted their price target on shares of Air Products and Chemicals from $350.00 to $365.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. Citigroup decreased their price objective on shares of Air Products and Chemicals from $373.00 to $345.00 and set a "buy" rating for the company in a research report on Tuesday. Finally, StockNews.com lowered Air Products and Chemicals from a "hold" rating to a "sell" rating in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $341.47.

Insider Activity at Air Products and Chemicals

In related news, VP Walter L. Nelson sold 589 shares of Air Products and Chemicals stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $308.50, for a total value of $181,706.50. Following the sale, the vice president now directly owns 719 shares in the company, valued at $221,811.50. This trade represents a 45.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Sean D. Major sold 4,500 shares of the company's stock in a transaction dated 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 owns 14,273 shares of the company's stock, valued at approximately $4,502,560.58. This trade represents a 23.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,500 shares of company stock worth $4,842,604 in the last 90 days. 0.41% of the stock is currently owned by company insiders.

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.