Bank of New York Mellon Corp Has $605.73 Million Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Bank of New York Mellon Corp boosted its position in Air Products and Chemicals, Inc. (NYSE:APD) by 1.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,088,449 shares of the basic materials company’s stock after buying an additional 30,888 shares during the period. Bank of New York Mellon Corp owned approximately 0.94% of Air Products and Chemicals worth $605,734,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Air Products and Chemicals by 1.9% during the third quarter. Geode Capital Management LLC now owns 4,874,347 shares of the basic materials company’s stock valued at $1,448,570,000 after acquiring an additional 88,806 shares in the last quarter. National Bank of Canada FI increased its stake in Air Products and Chemicals by 3.9% during the 3rd quarter. National Bank of Canada FI now owns 1,867,290 shares of the basic materials company’s stock valued at $555,967,000 after purchasing an additional 70,759 shares in the last quarter. Stifel Financial Corp raised its holdings in Air Products and Chemicals by 1.2% during the third quarter. Stifel Financial Corp now owns 1,633,381 shares of the basic materials company’s stock worth $486,343,000 after buying an additional 19,209 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Air Products and Chemicals by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,249,142 shares of the basic materials company’s stock valued at $371,920,000 after buying an additional 14,077 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in shares of 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 valued at $350,139,000 after buying an additional 234,322 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Air Products and Chemicals Trading Up 2.6 %

Shares of APD stock opened at $317.51 on Wednesday. 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 firm has a market cap of $70.64 billion, a P/E ratio of 18.44, a PEG ratio of 3.07 and a beta of 0.85. The company has a 50 day moving average of $308.81 and a 200-day moving average of $305.34. Air Products and Chemicals, Inc. has a 12-month low of $227.53 and a 12-month high of $341.14.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share (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%. Sell-side analysts anticipate 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. Investors of record on Tuesday, April 1st will be paid 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 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals’s payout ratio is currently 41.11%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on APD shares. Sanford C. Bernstein raised shares of 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. Barclays raised Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $315.00 to $365.00 in a research note on Friday, January 24th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $320.00 target price (down previously from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. Wells Fargo & Company lifted their price objective on shares of Air Products and Chemicals from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Finally, BNP Paribas upgraded shares of Air Products and Chemicals to a “strong-buy” rating in a report on Tuesday, February 11th. One research 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 stock. According to MarketBeat.com, Air Products and Chemicals has a consensus rating of “Moderate Buy” and a consensus target price of $339.94.

Insider Buying and Selling at Air Products and Chemicals

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 completion of the transaction, the insider now directly owns 3,834 shares in the company, valued at approximately $1,173,204. The trade was a 34.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sean D. Major sold 4,500 shares of the stock in a transaction dated Friday, February 7th. The stock was 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 $4,502,560.58. This trade represents a 23.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,911 shares of company stock valued at $4,660,897 over the last three months. 0.41% of the stock is currently owned by 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.