SRS Capital Advisors Inc. Grows Stake in Air Products and Chemicals, Inc. (NYSE:APD)

SRS Capital Advisors Inc. grew its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 3.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 974 shares of the basic materials company’s stock after acquiring an additional 33 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Air Products and Chemicals were worth $282,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. ING Groep NV increased its position in Air Products and Chemicals by 240.7% during the 3rd quarter. ING Groep NV now owns 1,023,433 shares of the basic materials company’s stock valued at $304,717,000 after purchasing an additional 723,019 shares during the period. Mizuho Markets Americas LLC boosted its stake in shares of Air Products and Chemicals by 318.7% during the 3rd quarter. Mizuho Markets Americas LLC now owns 948,723 shares of the basic materials company’s stock valued at $282,473,000 after purchasing an additional 722,132 shares in the last quarter. Sachem Head Capital Management LP purchased a new position in shares of Air Products and Chemicals during the third quarter valued at about $163,013,000. TOMS Capital Investment Management LP bought a new position in Air Products and Chemicals in the third quarter worth about $159,886,000. Finally, Proficio Capital Partners LLC purchased a new stake in Air Products and Chemicals in the fourth quarter worth about $71,307,000. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Trading Down 1.7 %

Shares of NYSE APD opened at $305.21 on Wednesday. The firm’s 50 day moving average price is $310.52 and its 200-day moving average price is $306.62. The company has a market cap of $67.90 billion, a PE ratio of 17.72, a P/E/G ratio of 3.07 and a beta of 0.85. 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 debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 1.11.

Air Products and Chemicals (NYSE:APD) last issued its earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share (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%. On average, equities research analysts expect that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be given a dividend of $1.79 per share. This is an increase 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 2.35%. Air Products and Chemicals’s dividend payout ratio is 41.58%.

Insider Activity at Air Products and Chemicals

In related news, VP Sean D. Major sold 4,500 shares of the stock in a transaction that occurred on 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 owns 14,273 shares in the company, valued at $4,502,560.58. This represents a 23.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Melissa N. Schaeffer sold 3,233 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 10,680 shares in the company, valued at approximately $3,282,177.60. This trade represents a 23.24 % 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.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Sanford C. Bernstein raised 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 upgraded 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 report on Friday, January 24th. Bank of America cut shares of 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. BMO Capital Markets lowered shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. Finally, Wells Fargo & Company lifted their price target on shares of Air Products and Chemicals from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $343.53.

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.