Air Products and Chemicals, Inc. (NYSE:APD) Shares Acquired by Prudential Financial Inc.

Prudential Financial Inc. lifted its position in Air Products and Chemicals, Inc. (NYSE:APD) by 43.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 198,232 shares of the basic materials company’s stock after acquiring an additional 60,333 shares during the period. Prudential Financial Inc.’s holdings in Air Products and Chemicals were worth $57,495,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Truvestments Capital LLC acquired a new stake in Air Products and Chemicals during the 3rd quarter worth $25,000. Generali Investments Management Co LLC purchased a new position in shares of Air Products and Chemicals in the fourth quarter worth about $26,000. Raleigh Capital Management Inc. boosted its position in Air Products and Chemicals by 69.4% during 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 last quarter. Sierra Ocean LLC purchased a new stake in Air Products and Chemicals during the 4th quarter valued at about $30,000. Finally, Financial Life Planners acquired a new stake in Air Products and Chemicals in the 4th quarter valued at about $31,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Francesco Maione sold 2,016 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $306.00, for a total transaction of $616,896.00. Following the sale, the insider now directly owns 3,834 shares in the company, valued at approximately $1,173,204. This represents a 34.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Melissa N. Schaeffer sold 3,233 shares of Air Products and Chemicals stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $307.32, for a total transaction of $993,565.56. Following the completion of the transaction, the chief financial officer now owns 10,680 shares of the company’s stock, valued at $3,282,177.60. This represents a 23.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,500 shares of company stock worth $4,842,604 in the last quarter. 0.41% of the stock is owned by company insiders.

Air Products and Chemicals Stock Performance

NYSE APD opened at $294.06 on Tuesday. 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 company has a market cap of $65.42 billion, a P/E ratio of 17.08, a P/E/G ratio of 3.07 and a beta of 0.85. The stock has a 50-day moving average of $313.04 and a two-hundred day moving average of $308.84. Air Products and Chemicals, Inc. has a 1-year low of $227.53 and a 1-year high of $341.14.

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

Air Products and Chemicals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be issued a $1.79 dividend. The ex-dividend date is Tuesday, April 1st. This is a positive change 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 2.43%. Air Products and Chemicals’s dividend payout ratio (DPR) is 41.58%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on APD shares. Bank of America lowered Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price target for the company. in a research report on Monday, January 27th. BNP Paribas upgraded Air Products and Chemicals to a “strong-buy” rating in a report on Tuesday, February 11th. UBS Group reduced their price target 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 issued a $320.00 price objective (down previously from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. Finally, Wells Fargo & Company lifted their target price on shares of 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Air Products and Chemicals currently has an average rating of “Moderate Buy” and a consensus price target of $342.65.

About Air Products and Chemicals

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.