Zurcher Kantonalbank Zurich Cantonalbank Has $25.42 Million Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 6.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 87,634 shares of the basic materials company’s stock after purchasing an additional 5,119 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Air Products and Chemicals were worth $25,417,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in Air Products and Chemicals during the fourth quarter worth $885,371,000. 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 worth $304,717,000 after acquiring an additional 723,019 shares in the last quarter. Mizuho Markets Americas LLC raised its holdings in shares of Air Products and Chemicals by 318.7% in 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 purchasing an additional 722,132 shares during the last quarter. Sachem Head Capital Management LP bought a new position in shares of Air Products and Chemicals during the third quarter valued at about $163,013,000. Finally, TOMS Capital Investment Management LP purchased a new position in Air Products and Chemicals during the third quarter worth about $159,886,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on APD. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $320.00 price objective (down previously from $345.00) on shares of Air Products and Chemicals in a research note on Friday, February 7th. StockNews.com downgraded Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. Bank of America cut Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price objective on the stock. in a research report on Monday, January 27th. Sanford C. Bernstein raised 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 report on Friday, January 31st. Finally, UBS Group boosted their price target on shares of Air Products and Chemicals from $375.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Air Products and Chemicals currently has a consensus rating of “Moderate Buy” and a consensus price target of $343.53.

Air Products and Chemicals Stock Down 1.7 %

Air Products and Chemicals stock opened at $298.41 on Wednesday. The firm has a 50 day simple moving average of $312.10 and a 200 day simple moving average of $307.80. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71. Air Products and Chemicals, Inc. has a 1-year low of $227.53 and a 1-year high of $341.14. The firm has a market capitalization of $66.39 billion, a price-to-earnings ratio of 17.33, a P/E/G ratio of 3.07 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share 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, analysts predict that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be given a $1.79 dividend. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is 41.58%.

Insider Activity at Air Products and Chemicals

In related news, insider Francesco Maione sold 2,016 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $306.00, for a total value of $616,896.00. Following the sale, the insider now owns 3,834 shares in the company, valued at approximately $1,173,204. This trade represents a 34.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Melissa N. Schaeffer sold 3,233 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $307.32, for a total value 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. The trade was a 23.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,500 shares of company stock valued at $4,842,604. Corporate insiders own 0.41% of the company’s stock.

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.