Umpqua Bank Grows Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Umpqua Bank increased its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 13.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,633 shares of the basic materials company’s stock after acquiring an additional 909 shares during the period. Umpqua Bank’s holdings in Air Products and Chemicals were worth $2,351,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in APD. Raymond James Financial Inc. purchased a new position in shares of Air Products and Chemicals during the fourth quarter valued at approximately $885,371,000. Sachem Head Capital Management LP purchased a new position in shares of Air Products and Chemicals during the third quarter valued at approximately $163,013,000. TOMS Capital Investment Management LP purchased a new position in shares of Air Products and Chemicals during the third quarter valued at approximately $159,886,000. Proficio Capital Partners LLC purchased a new position in shares of Air Products and Chemicals during the fourth quarter valued at approximately $71,307,000. Finally, Bank of Montreal Can boosted its position in shares of Air Products and Chemicals by 25.2% during the third quarter. Bank of Montreal Can now owns 1,165,733 shares of the basic materials company’s stock valued at $350,139,000 after buying an additional 234,322 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on APD. JPMorgan Chase & Co. restated a “neutral” rating and set a $320.00 target price (down previously from $345.00) on shares of Air Products and Chemicals in a research report on Friday, February 7th. BNP Paribas upgraded Air Products and Chemicals to a “strong-buy” rating in a report on Tuesday, February 11th. Wells Fargo & Company boosted their price target 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. UBS Group lowered their price target on Air Products and Chemicals from $395.00 to $370.00 and set a “buy” rating for the company in a report on Friday, March 14th. Finally, StockNews.com lowered Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, six have issued 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 has a consensus rating of “Moderate Buy” and an average target price of $342.65.

Air Products and Chemicals Price Performance

NYSE:APD opened at $291.35 on Friday. 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 quick ratio of 0.96 and a current ratio of 1.11. The firm has a market cap of $64.82 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 3.07 and a beta of 0.85. The firm’s fifty day moving average is $313.19 and its two-hundred day moving average is $308.22.

Air Products and Chemicals (NYSE:APD) last posted its 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 return on equity of 15.78% and a net margin of 31.88%. Research analysts expect 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 given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Tuesday, April 1st. 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 41.58%.

Insider Buying and Selling

In related news, insider Wilbur Mok sold 1,300 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $315.88, for a total transaction of $410,644.00. Following the completion of the transaction, the insider now owns 3,193 shares in the company, valued at $1,008,604.84. This represents a 28.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Walter L. Nelson sold 589 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $308.50, for a total transaction 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. The trade was a 45.03 % decrease in their position. 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 90 days. Insiders own 0.41% of the company’s stock.

Air Products and Chemicals 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.