Geode Capital Management LLC Buys 57,314 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Geode Capital Management LLC increased its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 1.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,931,661 shares of the basic materials company’s stock after buying an additional 57,314 shares during the period. Geode Capital Management LLC owned 2.22% of Air Products and Chemicals worth $1,430,354,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of APD. SG Americas Securities LLC grew its position in shares of Air Products and Chemicals by 106.3% in the fourth quarter. SG Americas Securities LLC now owns 13,494 shares of the basic materials company’s stock valued at $3,914,000 after purchasing an additional 6,952 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Air Products and Chemicals by 59.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 374,442 shares of the basic materials company’s stock valued at $111,488,000 after buying an additional 139,223 shares in the last quarter. Wedge Capital Management L L P NC bought a new position in Air Products and Chemicals during the 4th quarter worth $7,269,000. Diversify Wealth Management LLC lifted its holdings in shares of Air Products and Chemicals by 88.2% during the fourth quarter. Diversify Wealth Management LLC now owns 10,490 shares of the basic materials company’s stock worth $3,074,000 after buying an additional 4,916 shares in the last quarter. Finally, World Investment Advisors LLC boosted its position in shares of Air Products and Chemicals by 1,205.1% in the third quarter. World Investment Advisors LLC now owns 38,423 shares of the basic materials company’s stock valued at $11,440,000 after acquiring an additional 35,479 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on APD shares. Citigroup dropped their price objective on shares of Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating for the company in a research note on Tuesday, March 25th. BMO Capital Markets downgraded shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research 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 on the stock. in a research report on Monday, January 27th. StockNews.com cut Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Finally, UBS Group decreased their price target on Air Products and Chemicals from $395.00 to $370.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Air Products and Chemicals presently has an average rating of “Moderate Buy” and an average target price of $340.88.

Insider Activity at Air Products and Chemicals

In other news, VP Walter L. Nelson sold 589 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $308.50, for a total value of $181,706.50. Following the completion of the sale, the vice president now owns 719 shares of the company’s stock, valued at approximately $221,811.50. This represents a 45.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 value of $993,565.56. Following the completion of the transaction, the chief financial officer now directly owns 10,680 shares in the company, valued at approximately $3,282,177.60. This represents a 23.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders 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 insiders.

Air Products and Chemicals Price Performance

Shares of NYSE:APD opened at $293.47 on Wednesday. The firm has a 50 day simple moving average of $310.71 and a 200 day simple moving average of $309.58. The company has a market cap of $65.29 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 3.07 and a beta of 0.85. Air Products and Chemicals, Inc. has a one year low of $227.53 and a one year high of $341.14. 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 released its quarterly earnings data on Thursday, February 6th. The basic materials company reported $2.86 earnings per share for the quarter, missing the consensus estimate 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%. Research analysts predict that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Increases Dividend

The company 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. The ex-dividend date is Tuesday, April 1st. This represents a $7.16 annualized dividend and a dividend yield of 2.44%. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s dividend payout ratio is currently 41.58%.

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.