Providence First Trust Co Acquires New Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Providence First Trust Co acquired a new stake in Air Products and Chemicals, Inc. (NYSE:APD) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 218 shares of the basic materials company’s stock, valued at approximately $63,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Fisher Asset Management LLC increased its holdings in Air Products and Chemicals by 10.7% in the fourth quarter. Fisher Asset Management LLC now owns 1,150 shares of the basic materials company’s stock valued at $334,000 after purchasing an additional 111 shares during the period. WR Wealth Planners LLC increased its holdings in 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 valued at $31,000 after purchasing an additional 31 shares during the period. Maple Capital Management Inc. increased its holdings in Air Products and Chemicals by 2.7% in the fourth quarter. Maple Capital Management Inc. now owns 68,310 shares of the basic materials company’s stock valued at $19,813,000 after purchasing an additional 1,789 shares during the period. SVB Wealth LLC acquired a new stake in Air Products and Chemicals in the fourth quarter valued at $12,229,000. Finally, First American Bank grew its holdings in Air Products and Chemicals by 1.4% during the 4th quarter. First American Bank now owns 26,048 shares of the basic materials company’s stock worth $7,555,000 after acquiring an additional 350 shares during the period. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on APD. UBS Group increased their price target on Air Products and Chemicals from $375.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. BMO Capital Markets downgraded Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a report 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 price target for the company. in a report on Monday, January 27th. Barclays upgraded Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $315.00 to $365.00 in a report on Friday, January 24th. Finally, Wells Fargo & Company increased their price target 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Air Products and Chemicals has a consensus rating of “Moderate Buy” and a consensus price target of $343.53.

Insider Buying and Selling

In other Air Products and Chemicals news, insider Kurt Lefevere sold 1,500 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $316.17, for a total transaction of $474,255.00. Following the sale, the insider now owns 1,462 shares of the company’s stock, valued at $462,240.54. The trade was a 50.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Wilbur Mok sold 1,300 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $315.88, for a total transaction of $410,644.00. Following the sale, the insider now directly owns 3,193 shares in the company, valued at $1,008,604.84. The trade was a 28.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,911 shares of company stock valued at $4,660,897. 0.41% of the stock is owned by company insiders.

Air Products and Chemicals Price Performance

Shares of NYSE APD opened at $316.55 on Friday. Air Products and Chemicals, Inc. has a twelve month low of $227.53 and a twelve month high of $341.14. The stock’s 50 day moving average price is $310.00 and its 200-day moving average price is $305.95. The company has a market capitalization of $70.42 billion, a PE ratio of 18.38, a PEG ratio of 3.07 and a beta of 0.85. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71.

Air Products and Chemicals (NYSE:APD) last posted its quarterly 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 return on equity of 15.78% and a net margin of 31.88%. On average, equities 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 declared 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. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.26%. 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 payout ratio is 41.58%.

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.