Polymer Capital Management US LLC Buys Shares of 15,700 Air Products and Chemicals, Inc. (NYSE:APD)

Polymer Capital Management US LLC bought a new position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,700 shares of the basic materials company's stock, valued at approximately $4,554,000. Air Products and Chemicals comprises 1.2% of Polymer Capital Management US LLC's holdings, making the stock its 19th biggest position.

Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in Air Products and Chemicals during the 4th quarter valued at approximately $919,721,000. Raymond James Financial Inc. acquired a new position in shares of Air Products and Chemicals during the fourth quarter worth approximately $885,371,000. Orion Portfolio Solutions LLC boosted its position in shares of Air Products and Chemicals by 1,615.5% in the fourth quarter. Orion Portfolio Solutions LLC now owns 530,005 shares of the basic materials company's stock valued at $153,723,000 after acquiring an additional 499,110 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Air Products and Chemicals in the fourth quarter worth $71,307,000. Finally, Vanguard Group Inc. increased its position in Air Products and Chemicals by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 21,485,176 shares of the basic materials company's stock worth $6,231,560,000 after acquiring an additional 207,404 shares during the period. 81.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

APD has been the subject of a number of research reports. Bank of America downgraded shares of Air Products and Chemicals from a "buy" rating to a "neutral" rating and set a $350.00 price target for the company. in a report on Monday, January 27th. UBS Group reduced their target price on shares of Air Products and Chemicals from $395.00 to $370.00 and set a "buy" rating for the company in a research note on Friday, March 14th. Barclays cut their price target on Air Products and Chemicals from $365.00 to $355.00 and set an "overweight" rating for the company in a report on Tuesday, April 1st. Citigroup reduced their price objective on Air Products and Chemicals from $373.00 to $345.00 and set a "buy" rating for the company in a research report on Tuesday, March 25th. Finally, Sanford C. Bernstein upgraded Air Products and Chemicals from a "market perform" rating to an "outperform" rating and set a $375.00 price objective on the stock in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Air Products and Chemicals presently has a consensus rating of "Moderate Buy" and an average target price of $338.24.

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Insider Activity

In other Air Products and Chemicals news, insider Francesco Maione sold 2,016 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $306.00, for a total value of $616,896.00. Following the transaction, the insider now owns 3,834 shares of the company's stock, valued at approximately $1,173,204. This represents a 34.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kurt Lefevere sold 1,500 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $316.17, for a total value of $474,255.00. Following the transaction, the insider now owns 1,462 shares of the company's stock, valued at $462,240.54. The trade was a 50.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,500 shares of company stock valued at $4,842,604. 0.41% of the stock is currently owned by insiders.

Air Products and Chemicals Price Performance

APD traded up $6.84 during trading on Friday, hitting $268.88. The company's stock had a trading volume of 1,002,627 shares, compared to its average volume of 1,494,815. The firm's 50 day moving average price is $298.09 and its two-hundred day moving average price is $307.63. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $59.82 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 3.07 and a beta of 0.89. Air Products and Chemicals, Inc. has a 12 month low of $227.53 and a 12 month high of $341.14.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued 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 return on equity of 15.78% and a net margin of 31.88%. Sell-side analysts forecast 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 company 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 a boost 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 yield of 2.66%. Air Products and Chemicals's dividend payout ratio (DPR) is currently 41.58%.

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.