Erste Asset Management GmbH Buys 7,630 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Erste Asset Management GmbH raised its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 15.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,717 shares of the basic materials company’s stock after purchasing an additional 7,630 shares during the period. Erste Asset Management GmbH’s holdings in Air Products and Chemicals were worth $16,706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Raymond James Financial Inc. bought a new stake in shares of Air Products and Chemicals in the 4th quarter worth about $885,371,000. ING Groep NV lifted its stake in Air Products and Chemicals by 240.7% in the third quarter. ING Groep NV now owns 1,023,433 shares of the basic materials company’s stock worth $304,717,000 after purchasing an additional 723,019 shares during the last quarter. Mizuho Markets Americas LLC boosted its position in shares of Air Products and Chemicals by 318.7% during the third quarter. Mizuho Markets Americas LLC now owns 948,723 shares of the basic materials company’s stock valued at $282,473,000 after buying an additional 722,132 shares during the period. Sachem Head Capital Management LP bought a new position in shares of Air Products and Chemicals during the third quarter valued at approximately $163,013,000. Finally, TOMS Capital Investment Management LP purchased a new stake in shares of Air Products and Chemicals in the third quarter worth approximately $159,886,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on APD. UBS Group lifted their target price on Air Products and Chemicals from $375.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Barclays raised shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $315.00 to $365.00 in a research report on Friday, January 24th. BNP Paribas upgraded Air Products and Chemicals to a “strong-buy” rating in a research note on Tuesday, February 11th. Bank of America lowered Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 target price for the company. in a research note on Monday, January 27th. Finally, BMO Capital Markets lowered Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Air Products and Chemicals presently has an average rating of “Moderate Buy” and a consensus target price of $343.53.

Insider Buying and Selling

In other news, CFO Melissa N. Schaeffer sold 3,233 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $307.32, for a total transaction of $993,565.56. Following the completion of the sale, the chief financial officer now directly owns 10,680 shares in the company, valued at $3,282,177.60. This represents a 23.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Kurt Lefevere sold 1,500 shares of the 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 transaction, the insider now directly owns 1,462 shares in the company, valued at $462,240.54. This trade represents a 50.64 % decrease in their ownership of the stock. 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 company insiders.

Air Products and Chemicals Stock Down 0.7 %

Shares of NYSE:APD opened at $292.53 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 0.96. The firm has a fifty day moving average price of $312.38 and a 200 day moving average price of $307.60. Air Products and Chemicals, Inc. has a 1-year low of $227.53 and a 1-year high of $341.14. The stock has a market cap of $65.08 billion, a P/E ratio of 16.99, a P/E/G ratio of 3.07 and a beta of 0.85.

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 (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%. Sell-side analysts predict that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be issued a $1.79 dividend. 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. This represents a $7.16 annualized dividend and a yield of 2.45%. Air Products and Chemicals’s payout ratio is 41.58%.

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.