Birnam Oak Advisors LP Takes Position in Air Products and Chemicals, Inc. (NYSE:APD)

Birnam Oak Advisors LP bought a new stake in Air Products and Chemicals, Inc. (NYSE:APD) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,000 shares of the basic materials company’s stock, valued at approximately $1,160,000. Air Products and Chemicals comprises about 0.6% of Birnam Oak Advisors LP’s holdings, making the stock its 22nd biggest holding.

Several other institutional investors have also recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new stake in Air Products and Chemicals in the 4th quarter valued at $885,371,000. Sachem Head Capital Management LP acquired a new stake in shares of Air Products and Chemicals in the third quarter valued at about $163,013,000. TOMS Capital Investment Management LP bought a new stake in shares of Air Products and Chemicals during the 3rd quarter valued at about $159,886,000. Proficio Capital Partners LLC bought a new stake in shares of Air Products and Chemicals during the 4th quarter valued at about $71,307,000. Finally, Bank of Montreal Can boosted its holdings in Air Products and Chemicals by 25.2% in the third quarter. Bank of Montreal Can now owns 1,165,733 shares of the basic materials company’s stock worth $350,139,000 after acquiring an additional 234,322 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Stock Up 1.4 %

APD stock opened at $295.96 on Tuesday. Air Products and Chemicals, Inc. has a 52 week low of $227.53 and a 52 week high of $341.14. 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 stock has a market capitalization of $65.84 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 3.07 and a beta of 0.85. The firm has a 50 day moving average of $312.79 and a 200 day moving average of $308.25.

Air Products and Chemicals (NYSE:APD) last issued its quarterly 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%. Sell-side analysts forecast that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 2.42%. The ex-dividend date is Tuesday, April 1st. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s payout ratio is 41.58%.

Analyst Upgrades and Downgrades

APD has been the topic of a number of recent research reports. Bank of America lowered Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 target price on the stock. in a report on Monday, January 27th. Wells Fargo & Company raised their target price on Air Products and Chemicals from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. BMO Capital Markets cut Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research report on Friday, February 7th. Sanford C. Bernstein raised 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 research note on Friday, January 31st. Finally, BNP Paribas raised Air Products and Chemicals to a “strong-buy” rating in a research note on Tuesday, February 11th. One research 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 MarketBeat, Air Products and Chemicals has an average rating of “Moderate Buy” and a consensus price target of $342.65.

Insiders Place Their Bets

In other Air Products and Chemicals news, CFO Melissa N. Schaeffer sold 3,233 shares of Air Products and Chemicals stock in a transaction on Monday, February 10th. The shares were sold at an average price of $307.32, for a total transaction of $993,565.56. Following the sale, the chief financial officer now owns 10,680 shares of the company’s stock, valued at $3,282,177.60. The trade was a 23.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Sean D. Major sold 4,500 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $315.46, for a total transaction of $1,419,570.00. Following the transaction, the vice president now directly owns 14,273 shares in the company, valued at approximately $4,502,560.58. The trade was a 23.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,500 shares of company stock valued at $4,842,604 in the last 90 days. 0.41% of the stock is owned by insiders.

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.