Taconic Capital Advisors LP Invests $1.45 Million in Air Products and Chemicals, Inc. (NYSE:APD)

Taconic Capital Advisors LP purchased a new stake in Air Products and Chemicals, Inc. (NYSE:APD) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,000 shares of the basic materials company’s stock, valued at approximately $1,450,000. Air Products and Chemicals accounts for 0.5% of Taconic Capital Advisors LP’s investment portfolio, making the stock its 15th largest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Generali Investments Management Co LLC bought a new position in shares of Air Products and Chemicals during the 4th quarter worth $26,000. Raleigh Capital Management Inc. lifted 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 worth $30,000 after acquiring an additional 43 shares during the period. Sierra Ocean LLC bought a new position in Air Products and Chemicals during the 4th quarter worth about $30,000. Financial Life Planners purchased a new position in Air Products and Chemicals during the 4th quarter valued at about $31,000. Finally, WR Wealth Planners LLC increased its position in Air Products and Chemicals by 40.3% during 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 own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

APD opened at $278.78 on Monday. The company has a market cap of $62.04 billion, a P/E ratio of 16.19, a price-to-earnings-growth ratio of 3.07 and a beta of 0.88. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. The firm’s 50-day moving average price is $275.98 and its 200-day moving average price is $299.95. Air Products and Chemicals, Inc. has a 52-week low of $243.69 and a 52-week high of $341.14.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported $2.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.14). The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.94 billion. Air Products and Chemicals had a net margin of 31.88% and a return on equity of 15.78%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.85 EPS. As a group, equities analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Kurt Lefevere sold 1,500 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $316.17, for a total value of $474,255.00. Following the completion of the transaction, the insider now directly owns 1,462 shares in the company, valued at $462,240.54. This trade represents a 50.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Wilbur Mok sold 1,300 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $315.88, for a total value of $410,644.00. Following the completion of the sale, the insider now owns 3,193 shares in the company, valued at approximately $1,008,604.84. This represents a 28.93% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,751 shares of company stock valued at $1,812,572. 0.41% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on APD. BNP Paribas upgraded shares of Air Products and Chemicals to a “strong-buy” rating in a research note on Tuesday, February 11th. Citigroup lowered their target price on 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. Bank of America downgraded Air Products and Chemicals from a “neutral” rating to an “underperform” rating and cut their price target for the company from $330.00 to $282.00 in a report on Tuesday, April 15th. Sanford C. Bernstein upgraded Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price objective for the company in a research note on Friday, January 31st. Finally, StockNews.com lowered Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $330.38.

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.