Air Products and Chemicals, Inc. (NYSE:APD) Shares Acquired by 49 Wealth Management LLC

49 Wealth Management LLC lifted its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 22.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 825 shares of the basic materials company’s stock after purchasing an additional 149 shares during the quarter. 49 Wealth Management LLC’s holdings in Air Products and Chemicals were worth $239,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in APD. Vanguard Group Inc. raised its holdings in Air Products and Chemicals by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 21,485,176 shares of the basic materials company’s stock valued at $6,231,560,000 after acquiring an additional 207,404 shares in the last quarter. Dodge & Cox raised its holdings in Air Products and Chemicals by 1.0% during the fourth quarter. Dodge & Cox now owns 6,663,154 shares of the basic materials company’s stock worth $1,932,581,000 after purchasing an additional 64,960 shares in the last quarter. Bank of America Corp DE raised its holdings in Air Products and Chemicals by 129.4% during the fourth quarter. Bank of America Corp DE now owns 5,429,147 shares of the basic materials company’s stock worth $1,574,670,000 after purchasing an additional 3,062,157 shares in the last quarter. Geode Capital Management LLC raised its holdings in Air Products and Chemicals by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 4,931,661 shares of the basic materials company’s stock worth $1,430,354,000 after purchasing an additional 57,314 shares in the last quarter. Finally, Mantle Ridge LP acquired a new stake in Air Products and Chemicals during the fourth quarter worth approximately $1,191,344,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Insiders Place Their Bets

In related news, VP Walter L. Nelson sold 589 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $308.50, for a total value of $181,706.50. Following the sale, the vice president now directly owns 719 shares in the company, valued at $221,811.50. The trade was a 45.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.41% of the company’s stock.

Air Products and Chemicals Price Performance

Shares of NYSE APD opened at $269.06 on Friday. The firm has a market capitalization of $59.88 billion, a P/E ratio of 15.62, a PEG ratio of 3.07 and a beta of 0.88. Air Products and Chemicals, Inc. has a one year low of $243.69 and a one year high of $341.14. The company’s fifty day moving average is $274.33 and its two-hundred day moving average is $299.10. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 1.11.

Air Products and Chemicals (NYSE:APD) last issued its earnings results on Thursday, May 1st. The basic materials company reported $2.69 EPS for the quarter, missing the consensus estimate of $2.83 by ($0.14). The company had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.94 billion. Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. Air Products and Chemicals’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.85 earnings per share. Analysts forecast that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Tuesday, July 1st will be given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 2.66%. Air Products and Chemicals’s payout ratio is currently 104.07%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $320.00 target price (down from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. Barclays cut their target price on shares of Air Products and Chemicals from $355.00 to $325.00 and set an “overweight” rating on the stock in a report on Friday, May 2nd. BNP Paribas raised shares of Air Products and Chemicals to a “strong-buy” rating in a report on Tuesday, February 11th. Wells Fargo & Company cut their target price on shares of Air Products and Chemicals from $365.00 to $320.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. Finally, BMO Capital Markets cut shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $330.38.

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.