Magnetar Financial LLC Buys New Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Magnetar Financial LLC bought a new stake in Air Products and Chemicals, Inc. (NYSE:APD) during the 4th quarter, Holdings Channel reports. The institutional investor bought 2,470 shares of the basic materials company’s stock, valued at approximately $716,000.

Several other large investors have also recently bought and sold shares of the business. SG Americas Securities LLC grew its holdings in shares of Air Products and Chemicals by 106.3% during the fourth quarter. SG Americas Securities LLC now owns 13,494 shares of the basic materials company’s stock worth $3,914,000 after purchasing an additional 6,952 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Air Products and Chemicals by 59.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 374,442 shares of the basic materials company’s stock worth $111,488,000 after purchasing an additional 139,223 shares during the last quarter. Wedge Capital Management L L P NC purchased a new position in shares of Air Products and Chemicals during the fourth quarter worth about $7,269,000. Diversify Wealth Management LLC grew its holdings in shares of Air Products and Chemicals by 88.2% during the fourth quarter. Diversify Wealth Management LLC now owns 10,490 shares of the basic materials company’s stock worth $3,074,000 after purchasing an additional 4,916 shares during the last quarter. Finally, World Investment Advisors LLC grew its holdings in shares of Air Products and Chemicals by 1,205.1% during the third quarter. World Investment Advisors LLC now owns 38,423 shares of the basic materials company’s stock worth $11,440,000 after purchasing an additional 35,479 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Trading Down 0.5 %

Shares of Air Products and Chemicals stock opened at $291.35 on Friday. Air Products and Chemicals, Inc. has a 12-month low of $227.53 and a 12-month high of $341.14. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71. The stock has a market cap of $64.82 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 3.07 and a beta of 0.85. The company has a 50-day moving average of $313.19 and a two-hundred day moving average of $308.22.

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%. On average, research analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be issued a $1.79 dividend. The ex-dividend date is Tuesday, April 1st. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 dividend on an annualized basis and a yield of 2.46%. Air Products and Chemicals’s dividend payout ratio (DPR) is 41.58%.

Insider Buying and Selling at Air Products and Chemicals

In other news, VP Walter L. Nelson sold 589 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $308.50, for a total transaction of $181,706.50. Following the completion of the transaction, the vice president now directly owns 719 shares of the company’s stock, valued at $221,811.50. This trade represents a 45.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Francesco Maione sold 2,016 shares of the firm’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 transaction, the insider now directly owns 3,834 shares of the company’s stock, valued at approximately $1,173,204. This trade represents a 34.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,500 shares of company stock valued at $4,842,604. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on APD. Wells Fargo & Company raised their price objective on Air Products and Chemicals from $350.00 to $365.00 and gave the stock an “overweight” 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 target price for the company in a research note on Friday, January 31st. BNP Paribas upgraded shares of Air Products and Chemicals to a “strong-buy” rating in a research note on Tuesday, February 11th. Barclays upgraded shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $315.00 to $365.00 in a research note on Friday, January 24th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $320.00 target price (down previously from $345.00) on shares of Air Products and Chemicals in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $342.65.

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.