Forum Financial Management LP Acquires 3,549 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Forum Financial Management LP increased its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 189.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,423 shares of the basic materials company’s stock after acquiring an additional 3,549 shares during the quarter. Forum Financial Management LP’s holdings in Air Products and Chemicals were worth $1,573,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Air Products and Chemicals by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 21,485,176 shares of the basic materials company’s stock valued at $6,231,560,000 after purchasing an additional 207,404 shares in the last quarter. Dodge & Cox increased its position in Air Products and Chemicals by 1.0% in the 4th quarter. Dodge & Cox now owns 6,663,154 shares of the basic materials company’s stock valued at $1,932,581,000 after buying an additional 64,960 shares in the last quarter. Geode Capital Management LLC raised its stake in Air Products and Chemicals by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 4,931,661 shares of the basic materials company’s stock worth $1,430,354,000 after buying an additional 57,314 shares during the period. Norges Bank bought a new position in Air Products and Chemicals in the fourth quarter worth approximately $919,721,000. Finally, Raymond James Financial Inc. bought a new position in Air Products and Chemicals in the fourth quarter worth approximately $885,371,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Price Performance

APD opened at $262.88 on Friday. Air Products and Chemicals, Inc. has a fifty-two week low of $228.81 and a fifty-two week high of $341.14. The firm has a 50-day moving average of $292.75 and a 200 day moving average of $306.44. The firm has a market cap of $58.48 billion, a P/E ratio of 15.27, a PEG ratio of 3.07 and a beta of 0.89. 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 (NYSE:APD) last announced its quarterly earnings data 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%. On average, research analysts expect that Air Products and Chemicals, Inc. will post 12.69 EPS 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. Shareholders of record on Tuesday, April 1st will be paid a $1.79 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $7.16 annualized dividend and a yield of 2.72%. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 41.58%.

Insider Activity at Air Products and Chemicals

In related news, insider Francesco Maione sold 2,016 shares of Air Products and Chemicals stock in a transaction on Monday, February 10th. The shares were 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 trade represents a 34.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Melissa N. Schaeffer sold 3,233 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $307.32, for a total value of $993,565.56. Following the completion of the sale, the chief financial officer now directly owns 10,680 shares of the company’s stock, valued at approximately $3,282,177.60. This trade represents a 23.24 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, 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 Analyst Weigh In

APD has been the topic of a number of research reports. Citigroup lowered their target price on Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. UBS Group lowered their price objective on shares of Air Products and Chemicals from $370.00 to $335.00 and set a “buy” rating on the stock in a report on Tuesday. StockNews.com cut shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Barclays lowered their target price on shares of Air Products and Chemicals from $365.00 to $355.00 and set an “overweight” rating on the stock in a report on Tuesday, April 1st. Finally, Wells Fargo & Company cut their price target on Air Products and Chemicals from $365.00 to $320.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, five have given 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $332.18.

Air Products and Chemicals Company 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.