Air Products and Chemicals, Inc. (NYSE:APD) Shares Purchased by Summit Financial LLC

Summit Financial LLC boosted its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 4.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,141 shares of the basic materials company’s stock after buying an additional 132 shares during the quarter. Summit Financial LLC’s holdings in Air Products and Chemicals were worth $911,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in Air Products and Chemicals during the fourth quarter worth approximately $919,721,000. Raymond James Financial Inc. purchased a new stake in shares of Air Products and Chemicals during the 4th quarter worth approximately $885,371,000. Sachem Head Capital Management LP acquired a new position in shares of Air Products and Chemicals in the 3rd quarter valued at $163,013,000. Orion Portfolio Solutions LLC grew its position in shares of Air Products and Chemicals by 1,615.5% in the 4th quarter. Orion Portfolio Solutions LLC now owns 530,005 shares of the basic materials company’s stock valued at $153,723,000 after buying an additional 499,110 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in Air Products and Chemicals during the 4th quarter worth $71,307,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Air Products and Chemicals Price Performance

Air Products and Chemicals stock opened at $295.05 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 1.11. 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 market cap of $65.64 billion, a P/E ratio of 17.13, a price-to-earnings-growth ratio of 3.07 and a beta of 0.88. The business has a fifty day moving average of $310.28 and a two-hundred day moving average of $309.48.

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%. As a group, analysts predict that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Increases Dividend

The company also recently disclosed 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. 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 annualized dividend and a yield of 2.43%. Air Products and Chemicals’s payout ratio is currently 41.58%.

Insiders Place Their Bets

In other Air Products and Chemicals news, insider Kurt Lefevere sold 1,500 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $316.17, for a total transaction of $474,255.00. Following the completion of the transaction, the insider now directly owns 1,462 shares in the company, valued at approximately $462,240.54. This trade represents a 50.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Walter L. Nelson sold 589 shares of Air Products and Chemicals stock in a transaction dated 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 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,500 shares of company stock worth $4,842,604. 0.41% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on APD shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $320.00 price objective (down previously from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. StockNews.com downgraded Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. UBS Group reduced their price objective on Air Products and Chemicals from $395.00 to $370.00 and set a “buy” rating for the company in a research note on Friday, March 14th. BNP Paribas upgraded shares of Air Products and Chemicals to a “strong-buy” rating in a research report on Tuesday, February 11th. Finally, Citigroup cut their target price on shares of Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Air Products and Chemicals has a consensus rating of “Moderate Buy” and an average price target of $340.88.

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.