Senator Investment Group LP Acquires New Shares in Air Products and Chemicals, Inc. (NYSE:APD)

Senator Investment Group LP purchased a new stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 460,458 shares of the basic materials company's stock, valued at approximately $133,551,000. Air Products and Chemicals makes up approximately 3.9% of Senator Investment Group LP's holdings, making the stock its 3rd biggest holding. Senator Investment Group LP owned about 0.21% of Air Products and Chemicals at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of APD. TD Waterhouse Canada Inc. raised its stake in shares of Air Products and Chemicals by 6.7% during the 4th quarter. TD Waterhouse Canada Inc. now owns 5,521 shares of the basic materials company's stock valued at $1,602,000 after purchasing an additional 348 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Air Products and Chemicals by 47.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 12,939 shares of the basic materials company's stock valued at $3,753,000 after buying an additional 4,152 shares during the period. MML Investors Services LLC lifted its holdings in shares of Air Products and Chemicals by 1.0% in the fourth quarter. MML Investors Services LLC now owns 72,686 shares of the basic materials company's stock worth $21,082,000 after buying an additional 686 shares in the last quarter. MetLife Investment Management LLC boosted its position in shares of Air Products and Chemicals by 1.8% in the fourth quarter. MetLife Investment Management LLC now owns 58,837 shares of the basic materials company's stock valued at $17,065,000 after acquiring an additional 1,036 shares during the period. Finally, Ossiam grew its stake in Air Products and Chemicals by 36.2% during the fourth quarter. Ossiam now owns 1,186 shares of the basic materials company's stock valued at $344,000 after acquiring an additional 315 shares in the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Citigroup cut their price target on shares of 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. Barclays reduced their target price on Air Products and Chemicals from $365.00 to $355.00 and set an "overweight" rating for the company in a research report on Tuesday, April 1st. Wells Fargo & Company lowered their price target on Air Products and Chemicals from $365.00 to $320.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Bank of America lowered Air Products and Chemicals from a "neutral" rating to an "underperform" rating and cut their price objective for the stock from $330.00 to $282.00 in a report on Tuesday, April 15th. Finally, StockNews.com lowered shares of Air Products and Chemicals from a "hold" rating to a "sell" rating in a research report on Friday, February 7th. Two analysts have rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $332.18.

Air Products and Chemicals Trading Up 1.6 %

Shares of Air Products and Chemicals stock traded up $4.12 during trading on Thursday, reaching $268.86. 813,572 shares of the stock were exchanged, compared to its average volume of 1,485,762. The stock's fifty day moving average is $289.66 and its 200 day moving average is $305.94. The firm has a market cap of $59.81 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 3.07 and a beta of 0.89. 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, Inc. has a 1 year low of $228.81 and a 1 year high of $341.14.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its quarterly 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, equities research analysts expect that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Kurt Lefevere sold 1,500 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $316.17, for a total value of $474,255.00. Following the sale, the insider now directly owns 1,462 shares of the company's stock, valued at $462,240.54. This represents a 50.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Sean D. Major sold 4,500 shares of the 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. The trade was a 23.97 % 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 worth $4,842,604. Company insiders own 0.41% of the company's stock.

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.