Pinnacle Financial Partners Inc Raises Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Pinnacle Financial Partners Inc grew its position in Air Products and Chemicals, Inc. (NYSE:APD) by 0.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,793 shares of the basic materials company’s stock after buying an additional 64 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Air Products and Chemicals were worth $11,144,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Truvestments Capital LLC purchased a new stake in shares of Air Products and Chemicals during the 3rd quarter worth $25,000. Sierra Ocean LLC purchased a new stake in shares of Air Products and Chemicals during the 4th quarter worth $30,000. Raleigh Capital Management Inc. lifted its stake in shares of Air Products and Chemicals by 69.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 43 shares during the last quarter. Financial Life Planners purchased a new stake in shares of Air Products and Chemicals during the 4th quarter worth $31,000. Finally, Newton One Investments LLC purchased a new stake in shares of Air Products and Chemicals during the 4th quarter worth $38,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on APD shares. Barclays raised Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $315.00 to $365.00 in a research report on Friday, January 24th. UBS Group upped their target price on Air Products and Chemicals from $375.00 to $385.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. StockNews.com lowered Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. Wells Fargo & Company upped their target price on Air Products and Chemicals from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $320.00 target price (down from $345.00) on shares of Air Products and Chemicals in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Air Products and Chemicals presently has an average rating of “Moderate Buy” and a consensus price target of $339.94.

Air Products and Chemicals Stock Down 1.4 %

Air Products and Chemicals stock opened at $310.02 on Friday. The firm has a market cap of $68.97 billion, a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 3.12 and a beta of 0.85. Air Products and Chemicals, Inc. has a 52 week low of $227.10 and a 52 week high of $341.14. The business’s 50-day moving average price is $308.50 and its 200 day moving average price is $304.66. 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 posted its earnings results on Thursday, February 6th. The basic materials company reported $2.86 EPS 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%. As a group, sell-side analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 2.31%. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date of this dividend is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is 41.11%.

Insider Buying and Selling

In other Air Products and Chemicals news, insider Kurt Lefevere sold 1,500 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $316.17, for a total transaction of $474,255.00. Following the transaction, the insider now owns 1,462 shares in the company, valued at approximately $462,240.54. This represents a 50.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Francesco Maione sold 2,016 shares of the 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 transaction, the insider now owns 3,834 shares in the company, valued at $1,173,204. This represents a 34.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,911 shares of company stock valued at $4,660,897 over the last ninety days. Company insiders own 0.41% of the company’s stock.

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.