Summit Securities Group LLC Buys New Shares in Air Products and Chemicals, Inc. (NYSE:APD)

Summit Securities Group LLC purchased a new stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,700 shares of the basic materials company's stock, valued at approximately $493,000.

A number of other hedge funds have also bought and sold shares of the business. Generali Investments Management Co LLC bought a new stake in Air Products and Chemicals during the fourth quarter worth $26,000. Raleigh Capital Management Inc. boosted its stake in Air Products and Chemicals by 69.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company's stock valued at $30,000 after buying an additional 43 shares in the last quarter. Sierra Ocean LLC bought a new position in Air Products and Chemicals in the fourth quarter valued at about $30,000. Financial Life Planners acquired a new position in Air Products and Chemicals during the fourth quarter worth about $31,000. Finally, WR Wealth Planners LLC lifted its holdings in shares of 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 acquiring an additional 31 shares during the last quarter. 81.66% of the stock is owned by institutional investors.

Air Products and Chemicals Stock Performance

Shares of NYSE APD traded down $7.87 during midday trading on Thursday, reaching $287.09. The company's stock had a trading volume of 370,740 shares, compared to its average volume of 1,473,972. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 0.96. The stock has a market capitalization of $63.87 billion, a P/E ratio of 16.67, a PEG ratio of 3.07 and a beta of 0.88. The firm has a 50 day moving average price of $310.28 and a 200-day moving average price of $309.48. Air Products and Chemicals, Inc. has a 12-month low of $227.53 and a 12-month high of $341.14.

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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 (EPS) for the quarter, missing analysts' consensus estimates 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 analysts predict 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. Shareholders of record on Tuesday, April 1st will be given a $1.79 dividend. This is an increase from Air Products and Chemicals's previous quarterly dividend of $1.77. This represents a $7.16 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals's dividend payout ratio (DPR) is currently 41.58%.

Insider Buying and Selling at Air Products and Chemicals

In other news, VP Sean D. Major sold 4,500 shares of the stock in a transaction dated 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 sale, the vice president now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Francesco Maione sold 2,016 shares of the 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 completion of the sale, the insider now owns 3,834 shares in the company, valued at $1,173,204. This represents a 34.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,500 shares of company stock valued at $4,842,604 over the last three months. 0.41% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on APD. BNP Paribas upgraded shares of Air Products and Chemicals to a "strong-buy" rating in a research report on Tuesday, February 11th. Wells Fargo & Company upped their target price 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. StockNews.com lowered shares of Air Products and Chemicals from a "hold" rating to a "sell" rating in a report on Friday, February 7th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $320.00 price target (down previously from $345.00) on shares of Air Products and Chemicals in a research note 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 target price on the stock. in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $340.88.

Air Products and Chemicals Company 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.