Pictet Asset Management Holding SA Buys 16,387 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Pictet Asset Management Holding SA grew its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 14.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 132,934 shares of the basic materials company's stock after acquiring an additional 16,387 shares during the period. Pictet Asset Management Holding SA owned 0.06% of Air Products and Chemicals worth $38,556,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of APD. Generali Investments Management Co LLC bought a new position in Air Products and Chemicals in the 4th quarter worth approximately $26,000. Raleigh Capital Management Inc. raised its position in shares of Air Products and Chemicals by 69.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company's stock worth $30,000 after acquiring an additional 43 shares during the last quarter. Sierra Ocean LLC acquired a new position in shares of Air Products and Chemicals during the fourth quarter valued at $30,000. Financial Life Planners bought a new position in Air Products and Chemicals in the fourth quarter valued at about $31,000. Finally, WR Wealth Planners LLC increased its position in Air Products and Chemicals by 40.3% in the fourth quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company's stock worth $31,000 after purchasing an additional 31 shares during the period. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Air Products and Chemicals news, 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 transaction, the insider now owns 3,834 shares of the company's stock, valued at $1,173,204. The trade was a 34.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Sean D. Major sold 4,500 shares of the company'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 value of $1,419,570.00. Following the completion of the sale, the vice president now owns 14,273 shares in the company, valued at $4,502,560.58. This represents a 23.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,500 shares of company stock valued at $4,842,604. 0.41% of the stock is owned by insiders.

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Air Products and Chemicals Stock Down 7.0 %

APD traded down $19.85 during trading hours on Friday, hitting $263.35. 1,762,347 shares of the company's stock were exchanged, compared to its average volume of 1,485,823. The stock has a market cap of $58.59 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 3.07 and a beta of 0.88. Air Products and Chemicals, Inc. has a 1-year low of $227.53 and a 1-year high of $341.14. The stock's 50-day moving average is $308.14 and its two-hundred day moving average is $309.11. The company has a quick ratio of 0.96, a current ratio of 1.11 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 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%. Sell-side analysts predict that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $1.79 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.72%. This is a boost from Air Products and Chemicals's previous quarterly dividend of $1.77. Air Products and Chemicals's dividend payout ratio is currently 41.58%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on APD shares. Wells Fargo & Company raised 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 note on Friday, February 7th. BNP Paribas raised shares of Air Products and Chemicals to a "strong-buy" rating in a research note on Tuesday, February 11th. Barclays dropped their target price on shares of Air Products and Chemicals from $365.00 to $355.00 and set an "overweight" rating for the company in a research report on Tuesday. JPMorgan Chase & Co. restated a "neutral" rating and issued a $320.00 price target (down from $345.00) on shares of Air Products and Chemicals in a research report on Friday, February 7th. Finally, Citigroup dropped their price objective on Air Products and Chemicals from $373.00 to $345.00 and set a "buy" rating for the company in a report on Tuesday, March 25th. 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 given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $340.88.

About Air Products and Chemicals

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.