Raymond James Financial Inc. Makes New Investment in Air Products and Chemicals, Inc. (NYSE:APD)

Raymond James Financial Inc. bought a new stake in 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. The institutional investor bought 3,052,582 shares of the basic materials company's stock, valued at approximately $885,371,000. Raymond James Financial Inc. owned 1.37% of Air Products and Chemicals at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in APD. Truvestments Capital LLC acquired a new position in shares of Air Products and Chemicals in the 3rd quarter valued at about $25,000. Raleigh Capital Management Inc. increased its holdings in shares of Air Products and Chemicals by 69.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company's stock valued at $30,000 after purchasing an additional 43 shares during the period. Sierra Ocean LLC acquired a new position in shares of Air Products and Chemicals in the 4th quarter valued at about $30,000. Financial Life Planners acquired a new position in shares of Air Products and Chemicals in the 4th quarter valued at about $31,000. Finally, WR Wealth Planners LLC increased its holdings in shares of Air Products and Chemicals by 40.3% in the 4th quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company's stock valued at $31,000 after purchasing an additional 31 shares during the period. Institutional investors and hedge funds own 81.66% of the company's stock.

Air Products and Chemicals Stock Up 2.1 %

APD opened at $311.70 on Thursday. Air Products and Chemicals, Inc. has a 1-year low of $227.53 and a 1-year high of $341.14. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $69.34 billion, a price-to-earnings ratio of 18.10, a P/E/G ratio of 3.07 and a beta of 0.85. The business has a 50 day moving average of $310.83 and a 200-day moving average of $306.65.

Air Products and Chemicals (NYSE:APD - Get Free Report) last posted 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%. As a group, sell-side analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be given a $1.79 dividend. This is a boost from Air Products and Chemicals's previous quarterly dividend of $1.77. This represents a $7.16 annualized dividend and a yield of 2.30%. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals's dividend payout ratio (DPR) is 41.58%.

Insider Buying and Selling

In related news, insider Francesco Maione sold 2,016 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $306.00, for a total value of $616,896.00. Following the completion of the transaction, the insider now directly owns 3,834 shares of the company's stock, valued at $1,173,204. This trade represents a 34.46 % 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 hyperlink. Also, CFO Melissa N. Schaeffer sold 3,233 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $307.32, for a total value of $993,565.56. Following the completion of the transaction, the chief financial officer now directly owns 10,680 shares of the company's stock, valued at approximately $3,282,177.60. This trade represents a 23.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,911 shares of company stock valued at $4,660,897 over the last ninety days. 0.41% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Citigroup upped their target price on Air Products and Chemicals from $345.00 to $365.00 and gave the company a "buy" rating in a report on Monday, November 11th. BNP Paribas upgraded Air Products and Chemicals to a "strong-buy" rating in a report on Tuesday, February 11th. StockNews.com downgraded Air Products and Chemicals from a "hold" rating to a "sell" rating in a report on Friday, February 7th. Wells Fargo & Company increased their price objective on Air Products and Chemicals from $350.00 to $365.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. Finally, Bank of America downgraded Air Products and Chemicals from a "buy" rating to a "neutral" rating and set a $350.00 price objective on the stock. in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $343.53.

Air Products and Chemicals 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.

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