SlateStone Wealth LLC Increases Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

SlateStone Wealth LLC lifted its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,113 shares of the basic materials company’s stock after acquiring an additional 1,166 shares during the period. Air Products and Chemicals accounts for about 1.1% of SlateStone Wealth LLC’s holdings, making the stock its 23rd biggest position. SlateStone Wealth LLC’s holdings in Air Products and Chemicals were worth $11,344,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. First National Advisers LLC grew its position in shares of Air Products and Chemicals by 4.0% during the fourth quarter. First National Advisers LLC now owns 7,279 shares of the basic materials company’s stock worth $2,112,000 after acquiring an additional 277 shares during the last quarter. GWN Securities Inc. acquired a new stake in shares of Air Products and Chemicals during the fourth quarter worth $328,000. Glenview Trust co lifted its holdings in shares of Air Products and Chemicals by 3.4% during the fourth quarter. Glenview Trust co now owns 6,850 shares of the basic materials company’s stock worth $1,987,000 after purchasing an additional 223 shares during the period. Patten & Patten Inc. TN lifted its holdings in shares of Air Products and Chemicals by 2.2% during the fourth quarter. Patten & Patten Inc. TN now owns 2,957 shares of the basic materials company’s stock worth $858,000 after purchasing an additional 65 shares during the period. Finally, Avalon Trust Co lifted its holdings in shares of Air Products and Chemicals by 10.2% during the fourth quarter. Avalon Trust Co now owns 640 shares of the basic materials company’s stock worth $186,000 after purchasing an additional 59 shares during the period. 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, insider Francesco Maione sold 2,016 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $306.00, for a total value of $616,896.00. Following the completion of the transaction, the insider now owns 3,834 shares of the company’s stock, valued at approximately $1,173,204. The trade was a 34.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Melissa N. Schaeffer sold 3,233 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $307.32, for a total transaction of $993,565.56. Following the completion of the transaction, the chief financial officer now directly owns 10,680 shares of the company’s stock, valued at $3,282,177.60. The trade was a 23.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,500 shares of company stock valued at $4,842,604. 0.41% of the stock is owned by insiders.

Air Products and Chemicals Trading Down 0.4 %

Shares of APD stock opened at $291.82 on Friday. Air Products and Chemicals, Inc. has a fifty-two week low of $227.53 and a fifty-two week high of $341.14. The stock has a market cap of $64.92 billion, a P/E ratio of 16.95, a P/E/G ratio of 3.07 and a beta of 0.85. The business has a fifty day simple moving average of $312.54 and a 200-day simple moving average of $307.90. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings results 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%. On average, analysts forecast that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal 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 paid a $1.79 dividend. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date is Tuesday, April 1st. This represents a $7.16 annualized dividend and a yield of 2.45%. Air Products and Chemicals’s payout ratio is presently 41.58%.

Analyst Ratings Changes

APD has been the subject of several recent research reports. BNP Paribas raised Air Products and Chemicals to a “strong-buy” rating in a report on Tuesday, February 11th. Barclays raised Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $315.00 to $365.00 in a report on Friday, January 24th. StockNews.com downgraded Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, February 7th. UBS Group decreased 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. Finally, Sanford C. Bernstein raised Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 target price for the company in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $342.65.

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.