SlateStone Wealth LLC increased its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 3.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 39,113 shares of the basic materials company's stock after purchasing an additional 1,166 shares during the quarter. Air Products and Chemicals accounts for 1.1% of SlateStone Wealth LLC's holdings, making the stock its 23rd biggest position. SlateStone Wealth LLC's holdings in Air Products and Chemicals were worth $11,344,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Metis Global Partners LLC boosted its position in Air Products and Chemicals by 1.5% during the third quarter. Metis Global Partners LLC now owns 7,088 shares of the basic materials company's stock valued at $2,110,000 after purchasing an additional 106 shares during the last quarter. Impax Asset Management Group plc acquired a new position in shares of Air Products and Chemicals in the third quarter valued at about $3,234,000. Intellectus Partners LLC grew its position in shares of Air Products and Chemicals by 22.4% during the 3rd quarter. Intellectus Partners LLC now owns 1,665 shares of the basic materials company's stock worth $496,000 after purchasing an additional 305 shares in the last quarter. CIBC Asset Management Inc increased its stake in Air Products and Chemicals by 7.5% during the 3rd quarter. CIBC Asset Management Inc now owns 38,712 shares of the basic materials company's stock worth $11,526,000 after acquiring an additional 2,686 shares during the period. Finally, Signature Estate & Investment Advisors LLC acquired a new position in Air Products and Chemicals in the third quarter valued at about $200,000. Institutional investors own 81.66% of the company's stock.
Insider Buying and Selling
In other Air Products and Chemicals news, VP Walter L. Nelson sold 589 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $308.50, for a total value of $181,706.50. Following the completion of the sale, the vice president now directly owns 719 shares of the company's stock, valued at $221,811.50. The trade was a 45.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 sale, the vice president now owns 14,273 shares of the company's stock, valued at approximately $4,502,560.58. This represents a 23.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,500 shares of company stock valued at $4,842,604. Company insiders own 0.41% of the company's stock.
Air Products and Chemicals Stock Down 0.4 %
Shares of NYSE APD traded down $1.23 during trading on Thursday, hitting $292.77. 860,562 shares of the company traded hands, compared to its average volume of 1,419,672. Air Products and Chemicals, Inc. has a fifty-two week low of $227.53 and a fifty-two week high of $341.14. The business's fifty day moving average is $313.07 and its 200 day moving average is $308.24. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 1.11. The firm has a market capitalization of $65.13 billion, a price-to-earnings ratio of 17.00, a P/E/G ratio of 3.07 and a beta of 0.85.
Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its earnings results on Thursday, February 6th. The basic materials company reported $2.86 EPS 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%. Equities research 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 announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be given a dividend of $1.79 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $7.16 annualized dividend and a dividend yield of 2.45%. This is an increase 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 Analysts Forecast Growth
Several analysts recently issued reports on the stock. 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. UBS Group reduced their target price on Air Products and Chemicals from $395.00 to $370.00 and set a "buy" rating on the stock in a report on Friday, March 14th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $320.00 price target (down previously from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. Wells Fargo & Company lifted their target price on Air Products and Chemicals from $350.00 to $365.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. Finally, Bank of America lowered shares of Air Products and Chemicals from a "buy" rating to a "neutral" rating and set a $350.00 price target on the stock. in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $342.65.
Check Out Our Latest Stock Report on APD
About Air Products and Chemicals
(
Free Report)
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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