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 Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,428 shares of the basic materials company’s stock after buying 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.

A number of other institutional investors also recently bought and sold shares of APD. Norges Bank purchased a new stake in shares of Air Products and Chemicals during the 4th quarter worth approximately $919,721,000. Raymond James Financial Inc. acquired a new stake in Air Products and Chemicals during the 4th quarter worth $885,371,000. Sachem Head Capital Management LP purchased a new stake in Air Products and Chemicals in the third quarter valued at $163,013,000. TOMS Capital Investment Management LP purchased a new position in shares of Air Products and Chemicals during the third quarter worth about $159,886,000. Finally, Orion Portfolio Solutions LLC increased its position in shares of Air Products and Chemicals by 1,615.5% during the fourth quarter. Orion Portfolio Solutions LLC now owns 530,005 shares of the basic materials company’s stock worth $153,723,000 after purchasing an additional 499,110 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

APD has been the topic of a number of research reports. Sanford C. Bernstein upgraded Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price target on the stock in a research note on Friday, January 31st. 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. Citigroup decreased their price target on shares of Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating for the company in a research note on Tuesday, March 25th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $320.00 price target (down previously from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. Finally, Bank of America cut Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price target for the company. in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $341.47.

Air Products and Chemicals Stock Performance

Shares of APD stock opened at $292.34 on Friday. 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 capitalization of $65.04 billion, a price-to-earnings ratio of 16.98, a price-to-earnings-growth ratio of 3.07 and a beta of 0.85. 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 50 day moving average price of $311.68 and a 200 day moving average price of $309.19.

Air Products and Chemicals (NYSE:APD) last issued its earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share 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%. Sell-side analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be given a $1.79 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $7.16 annualized dividend and a dividend yield of 2.45%. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s dividend payout ratio is presently 41.58%.

Insider Activity

In related news, VP Walter L. Nelson sold 589 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $308.50, for a total transaction of $181,706.50. Following the transaction, the vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Francesco Maione sold 2,016 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was 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. This represents a 34.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,500 shares of company stock valued at $4,842,604. Company insiders own 0.41% of the company’s stock.

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.