Oppenheimer Asset Management Inc. Grows Position in Air Products and Chemicals, Inc. (NYSE:APD)

Oppenheimer Asset Management Inc. boosted its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 6.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 62,152 shares of the basic materials company’s stock after purchasing an additional 3,581 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Air Products and Chemicals were worth $18,027,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Geode Capital Management LLC lifted its position in shares of Air Products and Chemicals by 1.9% in the third 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 in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Air Products and Chemicals by 1.5% in the fourth quarter. Bank of New York Mellon Corp now owns 2,088,449 shares of the basic materials company’s stock valued at $605,734,000 after acquiring an additional 30,888 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Air Products and Chemicals by 3.9% in the third quarter. National Bank of Canada FI now owns 1,867,290 shares of the basic materials company’s stock valued at $555,967,000 after acquiring an additional 70,759 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Air Products and Chemicals by 1.2% in the third quarter. Stifel Financial Corp now owns 1,633,381 shares of the basic materials company’s stock valued at $486,343,000 after acquiring an additional 19,209 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Air Products and Chemicals by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,249,142 shares of the basic materials company’s stock valued at $371,920,000 after acquiring an additional 14,077 shares in the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Down 1.1 %

Shares of NYSE APD opened at $313.79 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. The firm has a market capitalization of $69.81 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 3.07 and a beta of 0.85. The stock has a 50 day moving average price of $309.18 and a 200 day moving average price of $305.39. Air Products and Chemicals, Inc. has a 52-week low of $227.53 and a 52-week high of $341.14.

Air Products and Chemicals (NYSE:APD) last posted its earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates 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%. Sell-side analysts expect 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 announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $1.79 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $7.16 dividend on an annualized basis and a yield of 2.28%. 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%.

Wall Street Analysts Forecast Growth

APD has been the topic of several research analyst reports. StockNews.com downgraded Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. BNP Paribas upgraded Air Products and Chemicals to a “strong-buy” rating in a research report on Tuesday, February 11th. Barclays upgraded Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $315.00 to $365.00 in a research report on Friday, January 24th. Citigroup boosted their target price on Air Products and Chemicals from $345.00 to $365.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, UBS Group boosted their price objective on Air Products and Chemicals from $375.00 to $385.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $339.94.

Insiders Place Their Bets

In other news, insider Kurt Lefevere sold 1,500 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $316.17, for a total value of $474,255.00. Following the completion of the sale, the insider now owns 1,462 shares of the company’s stock, valued at $462,240.54. This trade represents a 50.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Sean D. Major sold 4,500 shares of the firm’s stock in a transaction 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 completion of the sale, the vice president now directly owns 14,273 shares of the company’s stock, valued at $4,502,560.58. The trade was a 23.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,911 shares of company stock worth $4,660,897 over the last 90 days. Company insiders own 0.41% of the company’s stock.

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.