Stonebridge Financial Group LLC Takes Position in Air Products and Chemicals, Inc. (NYSE:APD)

Stonebridge Financial Group LLC acquired a new position in shares of Air Products and Chemicals, Inc. (NYSE:APD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,838 shares of the basic materials company’s stock, valued at approximately $3,724,000.

A number of other hedge funds and other institutional investors have also modified their holdings of APD. Pathway Financial Advisers LLC increased its position in Air Products and Chemicals by 29,954.1% during the third quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company’s stock worth $861,722,000 after purchasing an additional 2,884,581 shares during the last quarter. ING Groep NV grew its stake in shares of Air Products and Chemicals by 240.7% in the 3rd quarter. ING Groep NV now owns 1,023,433 shares of the basic materials company’s stock valued at $304,717,000 after buying an additional 723,019 shares during the period. Mizuho Markets Americas LLC increased its holdings in shares of Air Products and Chemicals by 318.7% during the 3rd quarter. Mizuho Markets Americas LLC now owns 948,723 shares of the basic materials company’s stock worth $282,473,000 after buying an additional 722,132 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Air Products and Chemicals by 1,685.4% during the 3rd quarter. Van ECK Associates Corp now owns 764,489 shares of the basic materials company’s stock valued at $249,698,000 after buying an additional 721,671 shares during the period. Finally, International Assets Investment Management LLC grew its position in Air Products and Chemicals by 29,957.6% in the third quarter. International Assets Investment Management LLC now owns 718,075 shares of the basic materials company’s stock worth $2,138,000,000 after acquiring an additional 715,686 shares during the period. 81.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Air Products and Chemicals news, VP Sean D. Major sold 4,500 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $315.46, for a total transaction 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 approximately $4,502,560.58. This trade represents a 23.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.41% of the company’s stock.

Air Products and Chemicals Price Performance

Shares of NYSE APD opened at $310.38 on Tuesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.34 and a current ratio of 1.11. Air Products and Chemicals, Inc. has a fifty-two week low of $216.30 and a fifty-two week high of $341.14. The stock’s 50-day simple moving average is $309.83 and its 200-day simple moving average is $301.89. The firm has a market capitalization of $69.02 billion, a PE ratio of 18.02, a price-to-earnings-growth ratio of 3.47 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD) last announced 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%. As a group, equities research analysts forecast that Air Products and Chemicals, Inc. will post 12.77 EPS for the current fiscal year.

Air Products and Chemicals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be issued a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.31%. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio is presently 41.58%.

Wall Street Analyst Weigh In

APD has been the topic of several recent analyst reports. Citigroup upped their price target on Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a research note on Monday, November 11th. BMO Capital Markets lowered shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research note on Friday. StockNews.com cut shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday. Barclays raised shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $315.00 to $365.00 in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $320.00 target price (down previously from $345.00) on shares of Air Products and Chemicals in a research report on Friday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $339.94.

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.