Bank of Marin Purchases Shares of 1,308 Air Products and Chemicals, Inc. (NYSE:APD)

Bank of Marin acquired a new position in Air Products and Chemicals, Inc. (NYSE:APD) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,308 shares of the basic materials company’s stock, valued at approximately $379,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new position in shares of Air Products and Chemicals during the 3rd quarter valued at $25,000. Sierra Ocean LLC acquired a new stake in shares of Air Products and Chemicals during the 4th quarter valued at about $30,000. Raleigh Capital Management Inc. boosted its position in shares of Air Products and Chemicals by 69.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 43 shares in the last quarter. Financial Life Planners bought a new position in Air Products and Chemicals during the 4th quarter valued at about $31,000. Finally, WR Wealth Planners LLC raised its stake in shares of Air Products and Chemicals by 40.3% in the fourth quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 31 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 1.4 %

Shares of Air Products and Chemicals stock opened at $291.56 on Wednesday. The firm has a market capitalization of $64.87 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 3.07 and a beta of 0.85. 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 firm’s 50 day moving average is $312.89 and its 200 day moving average is $308.34. Air Products and Chemicals, Inc. has a 1 year low of $227.53 and a 1 year 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 EPS 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%. Equities research analysts forecast 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 business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be given a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Tuesday, April 1st. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s payout ratio is presently 41.58%.

Insider Activity at Air Products and Chemicals

In related news, insider Wilbur Mok sold 1,300 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $315.88, for a total transaction of $410,644.00. Following the transaction, the insider now owns 3,193 shares in the company, valued at $1,008,604.84. The trade was a 28.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kurt Lefevere sold 1,500 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $316.17, for a total transaction of $474,255.00. Following the transaction, the insider now owns 1,462 shares in the company, valued at $462,240.54. The trade was a 50.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,500 shares of company stock worth $4,842,604 in the last quarter. Company insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on APD. JPMorgan Chase & Co. reissued a “neutral” rating and set a $320.00 price objective (down previously from $345.00) on shares of Air Products and Chemicals in a research 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. Barclays raised shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $315.00 to $365.00 in a research report on Friday, January 24th. BMO Capital Markets lowered shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research report on Friday, February 7th. Finally, Bank of America lowered shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price target on the stock. in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Air Products and Chemicals currently has an average rating of “Moderate Buy” and a consensus price target 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.