Horizon Investments LLC Grows Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Horizon Investments LLC raised its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,378 shares of the basic materials company’s stock after buying an additional 157 shares during the quarter. Horizon Investments LLC’s holdings in Air Products and Chemicals were worth $2,127,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. First Horizon Advisors Inc. raised its stake in Air Products and Chemicals by 1.8% in the fourth quarter. First Horizon Advisors Inc. now owns 1,742 shares of the basic materials company’s stock valued at $505,000 after buying an additional 31 shares during the last quarter. Lake Street Advisors Group LLC raised its stake in Air Products and Chemicals by 1.6% in the fourth quarter. Lake Street Advisors Group LLC now owns 2,028 shares of the basic materials company’s stock valued at $588,000 after buying an additional 31 shares during the last quarter. WR Wealth Planners LLC raised its stake 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 buying an additional 31 shares during the last quarter. Silver Oak Securities Incorporated raised its stake in Air Products and Chemicals by 1.1% in the fourth quarter. Silver Oak Securities Incorporated now owns 3,074 shares of the basic materials company’s stock valued at $888,000 after buying an additional 32 shares during the last quarter. Finally, SRS Capital Advisors Inc. raised its stake in Air Products and Chemicals by 3.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 974 shares of the basic materials company’s stock valued at $282,000 after buying an additional 33 shares during the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on APD. Wells Fargo & Company increased their price objective on Air Products and Chemicals from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, February 7th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $320.00 price objective (down from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. Bank of America lowered Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price objective on the stock. in a report 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 price objective on the stock in a report on Friday, January 31st. Finally, StockNews.com lowered Air Products and Chemicals from a “hold” rating to a “sell” 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 issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Air Products and Chemicals presently has a consensus rating of “Moderate Buy” and a consensus target price of $342.65.

Insiders Place Their Bets

In other news, VP Sean D. Major sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $315.46, for a total value of $1,419,570.00. Following the transaction, the vice president now owns 14,273 shares in the company, valued at $4,502,560.58. This trade represents a 23.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Walter L. Nelson sold 589 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $308.50, for a total value of $181,706.50. Following the completion of the transaction, the vice president now owns 719 shares in the company, valued at approximately $221,811.50. This trade represents a 45.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,500 shares of company stock worth $4,842,604. 0.41% of the stock is owned by corporate insiders.

Air Products and Chemicals Stock Performance

Shares of APD stock opened at $291.56 on Wednesday. The company has a market capitalization of $64.87 billion, a P/E ratio of 16.93, a P/E/G ratio of 3.07 and a beta of 0.85. The business’s 50 day moving average is $312.89 and its two-hundred day moving average is $308.34. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71. Air Products and Chemicals, Inc. has a 12-month low of $227.53 and a 12-month high of $341.14.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share (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%. Analysts expect that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be given a dividend of $1.79 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $7.16 dividend on an annualized basis and a yield of 2.46%. 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%.

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.