Westpac Banking Corp Acquires 780 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Westpac Banking Corp boosted its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 132.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,369 shares of the basic materials company’s stock after purchasing an additional 780 shares during the quarter. Westpac Banking Corp’s holdings in Air Products and Chemicals were worth $397,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of APD. Generali Investments Management Co LLC purchased a new position in Air Products and Chemicals during the fourth quarter valued at $26,000. Sierra Ocean LLC bought a new position in shares of Air Products and Chemicals during the 4th quarter valued at about $30,000. Raleigh Capital Management Inc. boosted its holdings in shares of Air Products and Chemicals by 69.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 43 shares during the last quarter. Financial Life Planners purchased a new position in shares of Air Products and Chemicals during the fourth quarter valued at about $31,000. Finally, WR Wealth Planners LLC increased its holdings in shares of Air Products and Chemicals by 40.3% in the fourth quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 31 shares during the last quarter. Institutional investors own 81.66% of the company’s stock.

Insider Transactions at Air Products and Chemicals

In other news, VP Walter L. Nelson sold 589 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $308.50, for a total value of $181,706.50. Following the completion of the transaction, the vice president now directly owns 719 shares of the company’s stock, valued at approximately $221,811.50. The trade was a 45.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Francesco Maione sold 2,016 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $306.00, for a total value of $616,896.00. Following the sale, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,500 shares of company stock valued at $4,842,604. Company insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

APD has been the topic of several research reports. Wells Fargo & Company boosted their price target on shares of Air Products and Chemicals from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Barclays decreased their target price on shares of Air Products and Chemicals from $365.00 to $355.00 and set an “overweight” rating on the stock in a research report on Tuesday. Citigroup dropped their price target on Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating for the company in a research report on Tuesday, March 25th. BNP Paribas raised Air Products and Chemicals to a “strong-buy” rating in a research note on Tuesday, February 11th. Finally, Bank of America lowered Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price objective for the company. in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $340.88.

Air Products and Chemicals Stock Down 7.0 %

Shares of NYSE:APD opened at $263.35 on Friday. The business’s 50 day moving average is $308.14 and its 200 day moving average is $309.11. The stock has a market cap of $58.59 billion, a P/E ratio of 15.29, a price-to-earnings-growth ratio of 3.07 and a beta of 0.88. 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 quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71.

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 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%. Sell-side analysts predict 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 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 2.72%. Air Products and Chemicals’s dividend payout ratio (DPR) is 41.58%.

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.