245,851 Shares in Air Products and Chemicals, Inc. (NYSE:APD) Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC bought a new position in Air Products and Chemicals, Inc. (NYSE:APD) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 245,851 shares of the basic materials company’s stock, valued at approximately $71,307,000. Proficio Capital Partners LLC owned approximately 0.11% of Air Products and Chemicals at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in APD. ING Groep NV increased its holdings in 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 boosted its stake in Air Products and Chemicals by 318.7% in the 3rd quarter. Mizuho Markets Americas LLC now owns 948,723 shares of the basic materials company’s stock worth $282,473,000 after purchasing an additional 722,132 shares during the period. Van ECK Associates Corp boosted its stake in Air Products and Chemicals by 1,685.4% in the 3rd quarter. Van ECK Associates Corp now owns 764,489 shares of the basic materials company’s stock worth $249,698,000 after purchasing an additional 721,671 shares during the period. Sachem Head Capital Management LP bought a new position in Air Products and Chemicals in the 3rd quarter worth approximately $163,013,000. Finally, TOMS Capital Investment Management LP bought a new position in Air Products and Chemicals in the 3rd quarter worth approximately $159,886,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

APD has been the subject of several recent analyst reports. Citigroup upped their price target on Air Products and Chemicals from $345.00 to $365.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. UBS Group upped their price target on Air Products and Chemicals from $375.00 to $385.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Bank of America downgraded Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price target for the company. in a research note on Monday, January 27th. 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 note on Friday, January 31st. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $320.00 target price (down from $345.00) on shares of Air Products and Chemicals in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $339.94.

Air Products and Chemicals Stock Down 0.3 %

Shares of APD opened at $312.83 on Friday. 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 business has a fifty day moving average of $309.57 and a 200 day moving average of $305.45. 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 market cap of $69.60 billion, a PE ratio of 18.17, a P/E/G ratio of 3.07 and a beta of 0.85.

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 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%. On average, sell-side analysts expect that Air Products and Chemicals, Inc. will post 12.69 EPS 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 $1.79 dividend. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $7.16 dividend on an annualized basis and a yield of 2.29%. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 41.11%.

Insiders Place Their Bets

In other news, VP Sean D. Major sold 4,500 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $315.46, for a total transaction of $1,419,570.00. Following the transaction, the vice president now owns 14,273 shares in the company, valued at approximately $4,502,560.58. This trade represents a 23.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Kurt Lefevere sold 1,500 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $316.17, for a total value of $474,255.00. Following the transaction, the insider now owns 1,462 shares in the company, valued at approximately $462,240.54. This represents a 50.64 % 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 worth $4,660,897 over the last quarter. Company 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.