Nixon Peabody Trust Co. Increases Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Nixon Peabody Trust Co. raised its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,866 shares of the basic materials company’s stock after buying an additional 70 shares during the quarter. Nixon Peabody Trust Co.’s holdings in Air Products and Chemicals were worth $1,411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC grew its holdings in shares of Air Products and Chemicals by 106.3% in the fourth quarter. SG Americas Securities LLC now owns 13,494 shares of the basic materials company’s stock valued at $3,914,000 after purchasing an additional 6,952 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Air Products and Chemicals by 59.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 374,442 shares of the basic materials company’s stock worth $111,488,000 after buying an additional 139,223 shares during the last quarter. Wedge Capital Management L L P NC bought a new stake in Air Products and Chemicals in the fourth quarter worth $7,269,000. Diversify Wealth Management LLC lifted its position in Air Products and Chemicals by 88.2% in the fourth quarter. Diversify Wealth Management LLC now owns 10,490 shares of the basic materials company’s stock worth $3,074,000 after buying an additional 4,916 shares during the last quarter. Finally, Jensen Investment Management Inc. lifted its position in Air Products and Chemicals by 65.0% in the third quarter. Jensen Investment Management Inc. now owns 13,170 shares of the basic materials company’s stock worth $3,921,000 after buying an additional 5,190 shares during the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Up 1.3 %

Shares of NYSE:APD opened at $316.55 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. The business has a fifty day moving average of $310.00 and a two-hundred day moving average of $305.74. The stock has a market cap of $70.42 billion, a P/E ratio of 18.38, a PEG ratio of 3.07 and a beta of 0.85. 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 issued its earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. On average, research 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 $1.79 dividend. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio is presently 41.58%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on APD shares. Barclays upgraded Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $315.00 to $365.00 in a research report on Friday, January 24th. Citigroup lifted 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. BMO Capital Markets downgraded Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. UBS Group lifted their price objective on Air Products and Chemicals from $375.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Finally, Sanford C. Bernstein upgraded Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price objective for the company in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $339.94.

Insider Buying and Selling at Air Products and Chemicals

In related news, CFO Melissa N. Schaeffer sold 3,233 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $307.32, for a total transaction of $993,565.56. Following the transaction, the chief financial officer now owns 10,680 shares of the company’s stock, valued at approximately $3,282,177.60. This represents a 23.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sean D. Major sold 4,500 shares of the stock in a transaction dated Friday, February 7th. The shares were 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 in the company, valued at $4,502,560.58. This represents 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 in the last three months. 0.41% of the stock is owned by corporate insiders.

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.