Enhancing Capital LLC Takes $704,000 Position in Air Products and Chemicals, Inc. (NYSE:APD)

Enhancing Capital LLC acquired a new stake in Air Products and Chemicals, Inc. (NYSE:APD) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,426 shares of the basic materials company’s stock, valued at approximately $704,000.

A number of other large investors have also added to or reduced their stakes in APD. Geode Capital Management LLC increased its position in Air Products and Chemicals by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,874,347 shares of the basic materials company’s stock valued at $1,448,570,000 after acquiring an additional 88,806 shares during the period. Raymond James Financial Inc. acquired a new stake in Air Products and Chemicals in the fourth quarter valued at $885,371,000. Bank of New York Mellon Corp raised its position in Air Products and Chemicals by 1.5% during the 4th quarter. Bank of New York Mellon Corp now owns 2,088,449 shares of the basic materials company’s stock worth $605,734,000 after purchasing an additional 30,888 shares during the last quarter. National Bank of Canada FI lifted its holdings in Air Products and Chemicals by 3.9% during the 3rd quarter. National Bank of Canada FI now owns 1,867,290 shares of the basic materials company’s stock worth $555,967,000 after buying an additional 70,759 shares during the period. Finally, Stifel Financial Corp grew its position in shares of Air Products and Chemicals by 1.2% in the 3rd quarter. Stifel Financial Corp now owns 1,633,381 shares of the basic materials company’s stock valued at $486,343,000 after buying an additional 19,209 shares during the last quarter. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

NYSE APD opened at $295.96 on Tuesday. The firm has a market cap of $65.84 billion, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 3.07 and a beta of 0.85. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. The company’s 50 day moving average is $312.79 and its 200-day moving average is $308.25. Air Products and Chemicals, Inc. has a 12-month low of $227.53 and a 12-month high of $341.14.

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 (EPS) 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%. Sell-side analysts predict that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be given a dividend of $1.79 per share. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Tuesday, April 1st. Air Products and Chemicals’s payout ratio is 41.58%.

Analyst Ratings Changes

APD has been the topic of a number of recent analyst reports. BNP Paribas raised Air Products and Chemicals to a “strong-buy” rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $320.00 price target (down previously from $345.00) on shares of Air Products and Chemicals in a research report on Friday, February 7th. Bank of America downgraded shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 target price for the company. in a research note on Monday, January 27th. UBS Group cut their price target on shares of Air Products and Chemicals from $395.00 to $370.00 and set a “buy” rating on the stock in a research report on Friday. Finally, StockNews.com lowered Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Air Products and Chemicals has a consensus rating of “Moderate Buy” and a consensus target price of $342.65.

Insider Buying and Selling

In related news, insider Kurt Lefevere sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $316.17, for a total value of $474,255.00. Following the transaction, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Francesco Maione sold 2,016 shares of Air Products and Chemicals stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $306.00, for a total transaction of $616,896.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,500 shares of company stock worth $4,842,604 over the last ninety days. 0.41% of the stock is owned by corporate insiders.

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.