Air Products and Chemicals, Inc. (NYSE:APD) Shares Purchased by NewEdge Wealth LLC

NewEdge Wealth LLC boosted its position in Air Products and Chemicals, Inc. (NYSE:APD) by 17.0% in the 4th quarter, Holdings Channel reports. The firm owned 26,751 shares of the basic materials company’s stock after acquiring an additional 3,880 shares during the quarter. NewEdge Wealth LLC’s holdings in Air Products and Chemicals were worth $7,759,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in APD. Assenagon Asset Management S.A. raised its stake in Air Products and Chemicals by 12.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 5,793 shares of the basic materials company’s stock valued at $1,725,000 after purchasing an additional 647 shares during the last quarter. Fidelis Capital Partners LLC increased its stake in shares of Air Products and Chemicals by 2.6% in the 3rd quarter. Fidelis Capital Partners LLC now owns 2,105 shares of the basic materials company’s stock worth $688,000 after acquiring an additional 54 shares during the last quarter. Childress Capital Advisors LLC acquired a new stake in shares of Air Products and Chemicals in the 3rd quarter worth $227,000. First Trust Direct Indexing L.P. increased its stake in shares of Air Products and Chemicals by 5.7% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 6,910 shares of the basic materials company’s stock worth $2,057,000 after acquiring an additional 374 shares during the last quarter. Finally, Pinnacle Associates Ltd. increased its stake in shares of Air Products and Chemicals by 6.8% in the 3rd quarter. Pinnacle Associates Ltd. now owns 2,294 shares of the basic materials company’s stock worth $628,000 after acquiring an additional 147 shares during the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Air Products and Chemicals Stock Performance

Shares of Air Products and Chemicals stock opened at $312.83 on Friday. The business has a 50-day moving average of $309.57 and a 200 day moving average of $305.45. Air Products and Chemicals, Inc. has a 12 month low of $227.53 and a 12 month high of $341.14. The stock has a market capitalization of $69.60 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 3.07 and a beta of 0.85. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 0.96.

Air Products and Chemicals (NYSE:APD) last announced its earnings results on Thursday, February 6th. The basic materials company reported $2.86 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, sell-side analysts forecast that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be paid a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Tuesday, April 1st. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 41.11%.

Insider Activity

In other news, insider Francesco Maione sold 2,016 shares of Air Products and Chemicals 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 completion of the transaction, the insider now owns 3,834 shares in the company, valued at approximately $1,173,204. This trade represents a 34.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Melissa N. Schaeffer sold 3,233 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $307.32, for a total value of $993,565.56. Following the sale, the chief financial officer now directly owns 10,680 shares in the company, valued at $3,282,177.60. This trade represents a 23.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,911 shares of company stock worth $4,660,897. 0.41% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

APD has been the subject of a number of recent research reports. BMO Capital Markets downgraded Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. Wells Fargo & Company raised their target price on Air Products and Chemicals from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Bank of America downgraded Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 target price for the company. in a research note on Monday, January 27th. Sanford C. Bernstein raised Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 target price for the company in a research note on Friday, January 31st. Finally, BNP Paribas upgraded Air Products and Chemicals to a “strong-buy” rating in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $339.94.

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.