Air Products and Chemicals, Inc. (NYSE:APD) Shares Purchased by DnB Asset Management AS

DnB Asset Management AS raised its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 4.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,428 shares of the basic materials company’s stock after purchasing an additional 2,035 shares during the period. DnB Asset Management AS’s holdings in Air Products and Chemicals were worth $12,596,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. SG Americas Securities LLC boosted its stake in Air Products and Chemicals by 106.3% during the 4th quarter. SG Americas Securities LLC now owns 13,494 shares of the basic materials company’s stock valued at $3,914,000 after acquiring an additional 6,952 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Air Products and Chemicals by 59.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 374,442 shares of the basic materials company’s stock worth $111,488,000 after purchasing an additional 139,223 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in shares of Air Products and Chemicals during the fourth quarter worth about $7,269,000. Diversify Wealth Management LLC grew its stake in Air Products and Chemicals by 88.2% in the fourth quarter. Diversify Wealth Management LLC now owns 10,490 shares of the basic materials company’s stock worth $3,074,000 after purchasing an additional 4,916 shares in the last quarter. Finally, World Investment Advisors LLC increased its holdings in 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 buying an additional 35,479 shares during the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Air Products and Chemicals

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

Air Products and Chemicals Stock Down 0.9 %

Shares of Air Products and Chemicals stock opened at $292.34 on Friday. Air Products and Chemicals, Inc. has a 1-year low of $227.53 and a 1-year high of $341.14. The company has a market capitalization of $65.04 billion, a P/E ratio of 16.98, a PEG ratio of 3.07 and a beta of 0.85. The business’s fifty day moving average price is $311.68 and its two-hundred day moving average price is $309.19. 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 issued its quarterly earnings data on Thursday, February 6th. The basic materials company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates 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, research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be issued a $1.79 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 annualized dividend and a dividend yield of 2.45%. Air Products and Chemicals’s dividend payout ratio (DPR) is 41.58%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on APD. Citigroup reduced their target price on Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. UBS Group reduced their price objective on Air Products and Chemicals from $395.00 to $370.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Barclays upgraded shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $315.00 to $365.00 in a research note on Friday, January 24th. 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 on the stock. in a research report on Monday, January 27th. Finally, StockNews.com downgraded shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $341.47.

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.