NewEdge Wealth LLC Purchases 3,880 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

NewEdge Wealth LLC boosted its position in Air Products and Chemicals, Inc. (NYSE:APD) by 17.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,751 shares of the basic materials company’s stock after purchasing an additional 3,880 shares during the quarter. NewEdge Wealth LLC’s holdings in Air Products and Chemicals were worth $7,759,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in APD. Truvestments Capital LLC bought a new position in Air Products and Chemicals in the third quarter worth about $25,000. Raleigh Capital Management Inc. raised its holdings in Air Products and Chemicals by 69.4% in the fourth 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 in the last quarter. Sierra Ocean LLC acquired a new position in shares of Air Products and Chemicals during the fourth quarter valued at about $30,000. Financial Life Planners acquired a new position in shares of Air Products and Chemicals during the fourth quarter valued at about $31,000. Finally, Newton One Investments LLC acquired a new position in shares of Air Products and Chemicals during the fourth quarter valued at about $38,000. 81.66% of the stock is currently owned by institutional investors.

Air Products and Chemicals Trading Down 0.3 %

Air Products and Chemicals stock opened at $312.83 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71. Air Products and Chemicals, Inc. has a 12 month low of $227.53 and a 12 month high of $341.14. The stock’s 50 day simple moving average is $309.57 and its two-hundred day simple moving average is $305.45. The firm has a market cap of $69.60 billion, a PE ratio of 18.17, a P/E/G ratio of 3.07 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings data 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%. 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 disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be given a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Tuesday, April 1st. 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 currently 41.11%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on APD shares. Bank of America downgraded shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price objective on the stock. in a report on Monday, January 27th. BMO Capital Markets downgraded shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. Sanford C. Bernstein upgraded shares of Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price objective on the stock in a report on Friday, January 31st. StockNews.com downgraded shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Finally, Citigroup upped their price objective on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Air Products and Chemicals currently has a consensus rating of “Moderate Buy” and an average target price of $339.94.

Insiders Place Their Bets

In other news, 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 transaction of $616,896.00. Following the completion of the transaction, the insider now directly owns 3,834 shares of the company’s stock, valued at $1,173,204. This represents a 34.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Sean D. Major sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $315.46, for a total value of $1,419,570.00. Following the transaction, the vice president now directly owns 14,273 shares of the company’s stock, valued at approximately $4,502,560.58. The trade was a 23.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,911 shares of company stock worth $4,660,897. Corporate insiders own 0.41% of the company’s stock.

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.