ExodusPoint Capital Management LP Purchases New Stake in Air Products and Chemicals, Inc. (NYSE:APD)

ExodusPoint Capital Management LP acquired a new position in Air Products and Chemicals, Inc. (NYSE:APD) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 87,460 shares of the basic materials company’s stock, valued at approximately $25,367,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of APD. Public Sector Pension Investment Board boosted its holdings in Air Products and Chemicals by 12.9% during the third quarter. Public Sector Pension Investment Board now owns 9,640 shares of the basic materials company’s stock worth $2,870,000 after buying an additional 1,100 shares in the last quarter. Hilltop Holdings Inc. lifted its position in shares of Air Products and Chemicals by 25.1% during the 3rd quarter. Hilltop Holdings Inc. now owns 4,364 shares of the basic materials company’s stock valued at $1,299,000 after acquiring an additional 875 shares during the period. HighTower Advisors LLC boosted its stake in shares of Air Products and Chemicals by 6.9% during the 3rd quarter. HighTower Advisors LLC now owns 242,862 shares of the basic materials company’s stock worth $72,264,000 after acquiring an additional 15,747 shares in the last quarter. Investment Management Corp of Ontario grew its holdings in shares of Air Products and Chemicals by 48.7% in the 3rd quarter. Investment Management Corp of Ontario now owns 7,325 shares of the basic materials company’s stock worth $2,181,000 after acquiring an additional 2,400 shares during the period. Finally, Integrated Wealth Concepts LLC increased its stake in Air Products and Chemicals by 1.6% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 4,315 shares of the basic materials company’s stock valued at $1,285,000 after purchasing an additional 69 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Insider Activity at Air Products and Chemicals

In other news, insider Francesco Maione sold 2,016 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $306.00, for a total value of $616,896.00. Following the transaction, the insider now directly owns 3,834 shares in the company, valued at $1,173,204. This trade represents a 34.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Sean D. Major sold 4,500 shares of Air Products and Chemicals stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $315.46, for a total value of $1,419,570.00. Following the completion of the transaction, the vice president now directly owns 14,273 shares in the company, valued at $4,502,560.58. This represents a 23.97 % decrease in their ownership of the stock. 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 insiders.

Analyst Ratings Changes

A number of research firms have commented on APD. Citigroup decreased their target price on Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. 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 research note on Friday, February 7th. Wells Fargo & Company lifted their target price on shares of Air Products and Chemicals from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. BMO Capital Markets lowered shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research report on Friday, February 7th. Finally, Barclays cut their price objective on Air Products and Chemicals from $365.00 to $355.00 and set an “overweight” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $340.88.

Air Products and Chemicals Stock Up 0.5 %

APD opened at $295.05 on Thursday. The stock has a market capitalization of $65.64 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 3.07 and a beta of 0.88. Air Products and Chemicals, Inc. has a 12 month low of $227.53 and a 12 month 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. The business has a 50-day moving average of $310.28 and a two-hundred day moving average of $309.48.

Air Products and Chemicals (NYSE:APD) last released its 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 net margin of 31.88% and a return on equity of 15.78%. On average, 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 company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be given a $1.79 dividend. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is 41.58%.

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.