New York Life Investment Management LLC raised its holdings in Air Products and Chemicals, Inc. (NYSE:APD – Free Report) by 0.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,046 shares of the basic materials company’s stock after acquiring an additional 93 shares during the period. New York Life Investment Management LLC’s holdings in Air Products and Chemicals were worth $9,585,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of APD. First Horizon Advisors Inc. increased its position in Air Products and Chemicals by 1.8% during the 4th quarter. First Horizon Advisors Inc. now owns 1,742 shares of the basic materials company’s stock worth $505,000 after purchasing an additional 31 shares in the last quarter. Lake Street Advisors Group LLC grew its stake in shares of Air Products and Chemicals by 1.6% during the fourth quarter. Lake Street Advisors Group LLC now owns 2,028 shares of the basic materials company’s stock worth $588,000 after buying an additional 31 shares during the last quarter. Silver Oak Securities Incorporated increased its holdings in shares of Air Products and Chemicals by 1.1% during the fourth quarter. Silver Oak Securities Incorporated now owns 3,074 shares of the basic materials company’s stock worth $888,000 after buying an additional 32 shares in the last quarter. Financial Perspectives Inc increased its holdings in shares of Air Products and Chemicals by 33.3% during the fourth quarter. Financial Perspectives Inc now owns 140 shares of the basic materials company’s stock worth $41,000 after buying an additional 35 shares in the last quarter. Finally, Chesapeake Wealth Management lifted its stake in shares of Air Products and Chemicals by 1.7% in the 3rd quarter. Chesapeake Wealth Management now owns 2,189 shares of the basic materials company’s stock valued at $652,000 after acquiring an additional 37 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.
Wall Street Analyst Weigh In
APD has been the subject of a number of recent research reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $320.00 target price (down previously from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. BMO Capital Markets downgraded Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. UBS Group lifted their target price on shares of Air Products and Chemicals from $375.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. BNP Paribas raised shares of Air Products and Chemicals to a “strong-buy” rating in a report on Tuesday, February 11th. Finally, Bank of America downgraded shares of 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 note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $339.94.
Insider Buying and Selling at Air Products and Chemicals
In related news, CFO Melissa N. Schaeffer sold 3,233 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 10,680 shares in the company, valued at $3,282,177.60. This trade represents a 23.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 owns 3,193 shares of the company’s stock, valued at $1,008,604.84. This trade represents a 28.93 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,911 shares of company stock valued at $4,660,897. Corporate insiders own 0.41% of the company’s stock.
Air Products and Chemicals Stock Performance
APD stock opened at $312.83 on Friday. The firm has a market cap of $69.60 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 3.07 and a beta of 0.85. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71. The stock has a 50-day moving average price of $309.57 and a 200-day moving average price of $305.45. 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 – Get Free Report) 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 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%. As a group, equities research analysts expect that Air Products and Chemicals, Inc. will post 12.69 earnings per share 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. Shareholders 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 yield of 2.29%. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date of this dividend is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 41.11%.
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.
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