Hickory Asset Management Inc. Acquires New Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Hickory Asset Management Inc. bought a new stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,034 shares of the basic materials company’s stock, valued at approximately $590,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Truvestments Capital LLC bought a new position in Air Products and Chemicals in the third quarter valued at about $25,000. Raleigh Capital Management Inc. boosted its holdings in shares of Air Products and Chemicals by 69.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock worth $30,000 after buying an additional 43 shares during the last quarter. Financial Life Planners purchased a new stake in Air Products and Chemicals during the fourth quarter valued at approximately $31,000. Iron Horse Wealth Management LLC boosted its stake in shares of Air Products and Chemicals by 88.7% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 55 shares during the last quarter. Finally, Newton One Investments LLC purchased a new stake in shares of Air Products and Chemicals in the 4th quarter worth $38,000. 81.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Sanford C. Bernstein upgraded Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price target for the company in a research report on Friday, January 31st. UBS Group lifted their price target on shares of Air Products and Chemicals from $375.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. BNP Paribas raised shares of Air Products and Chemicals to a “strong-buy” rating in a research note on Tuesday. BMO Capital Markets cut shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. Finally, StockNews.com cut Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $339.94.

Insiders Place Their Bets

In other news, insider Francesco Maione sold 2,016 shares of Air Products and Chemicals 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 transaction, the insider now directly owns 3,834 shares in the company, valued at approximately $1,173,204. This trade represents a 34.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Sean D. Major sold 4,500 shares of the firm’s 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 sale, 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. In the last ninety days, insiders sold 9,749 shares of company stock worth $3,030,032. 0.41% of the stock is currently owned by company insiders.

Air Products and Chemicals Stock Performance

Shares of NYSE:APD opened at $316.74 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.34 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $70.47 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 3.47 and a beta of 0.85. Air Products and Chemicals, Inc. has a 12 month low of $220.26 and a 12 month high of $341.14. The firm’s 50-day moving average is $308.42 and its 200 day moving average is $302.74.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results on Thursday, February 6th. The basic materials company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates 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%. Research analysts predict that Air Products and Chemicals, Inc. will post 12.77 EPS 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. Shareholders of record on Tuesday, April 1st will be issued a dividend of $1.79 per share. 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 2.26%. The ex-dividend date of this dividend is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 41.58%.

Air Products and Chemicals Company 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.