Raiffeisen Bank International AG lessened its stake in Air Products and Chemicals, Inc. (NYSE:APD – Free Report) by 78.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,120 shares of the basic materials company’s stock after selling 71,396 shares during the quarter. Raiffeisen Bank International AG’s holdings in Air Products and Chemicals were worth $5,006,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. Holos Integrated Wealth LLC acquired a new position in Air Products and Chemicals during the 4th quarter valued at about $25,000. Richardson Financial Services Inc. increased its stake in Air Products and Chemicals by 3,233.3% during the 4th quarter. Richardson Financial Services Inc. now owns 100 shares of the basic materials company’s stock valued at $25,000 after buying an additional 97 shares during the period. Lloyd Advisory Services LLC. acquired a new position in Air Products and Chemicals during the 4th quarter valued at about $25,000. Meeder Asset Management Inc. acquired a new position in Air Products and Chemicals during the 4th quarter valued at about $25,000. Finally, Financial Life Planners acquired a new position in Air Products and Chemicals during the 3rd quarter valued at about $30,000. 81.66% of the stock is currently owned by institutional investors.
Air Products and Chemicals Stock Performance
Shares of APD opened at $277.98 on Friday. The firm’s 50 day moving average is $292.84 and its 200-day moving average is $276.24. The stock has a market capitalization of $61.90 billion, a P/E ratio of 29.42, a P/E/G ratio of 2.43 and a beta of 0.74. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.43 and a quick ratio of 1.21. Air Products and Chemicals, Inc. has a 12-month low of $229.11 and a 12-month high of $307.96.
Air Products and Chemicals Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Wednesday, July 1st will be given a $1.81 dividend. This represents a $7.24 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, July 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is 76.61%.
Wall Street Analysts Forecast Growth
Several research firms have commented on APD. Weiss Ratings raised shares of Air Products and Chemicals from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 4th. BMO Capital Markets raised shares of Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $360.00 price objective on the stock in a research note on Friday, May 1st. Bank of America lifted their price objective on shares of Air Products and Chemicals from $280.00 to $303.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 21st. JPMorgan Chase & Co. lifted their price objective on shares of Air Products and Chemicals from $310.00 to $330.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Finally, Royal Bank Of Canada lifted their price objective on shares of Air Products and Chemicals from $338.00 to $341.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $323.12.
Check Out Our Latest Stock Analysis on APD
Insider Buying and Selling at Air Products and Chemicals
In other news, CFO Melissa N. Schaeffer sold 2,714 shares of Air Products and Chemicals stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $303.76, for a total value of $824,404.64. Following the transaction, the chief financial officer directly owned 14,212 shares of the company’s stock, valued at $4,317,037.12. This trade represents a 16.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.88% of the stock is currently owned by company insiders.
Air Products and Chemicals Company Profile
Air Products and Chemicals, Inc is a global supplier of industrial gases and related equipment and services, headquartered in Allentown, Pennsylvania. The company produces and delivers atmospheric gases such as oxygen, nitrogen and argon, as well as specialty and process gases used across a wide range of industrial applications. Air Products designs, builds and operates gas production facilities, merchant distribution networks and on-site gas systems for customers that require reliable, high-purity gases and integrated supply solutions.
The company’s product and service portfolio includes packaged and bulk gas supply, pipeline distribution, on-site generation, gas handling and storage equipment, and engineered systems for gas liquefaction and purification.
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