Envestnet Asset Management Inc. Grows Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Envestnet Asset Management Inc. lifted its position in Air Products and Chemicals, Inc. (NYSE:APD) by 1.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 717,110 shares of the basic materials company’s stock after purchasing an additional 8,908 shares during the quarter. Envestnet Asset Management Inc. owned 0.32% of Air Products and Chemicals worth $207,991,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of APD. Norges Bank bought a new position in shares of Air Products and Chemicals during the 4th quarter valued at $919,721,000. Raymond James Financial Inc. bought a new position in shares of Air Products and Chemicals during the fourth quarter valued at about $885,371,000. Orion Portfolio Solutions LLC increased its holdings in shares of Air Products and Chemicals by 1,615.5% in the fourth quarter. Orion Portfolio Solutions LLC now owns 530,005 shares of the basic materials company’s stock worth $153,723,000 after buying an additional 499,110 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Air Products and Chemicals in the 4th quarter valued at about $71,307,000. Finally, Vanguard Group Inc. boosted its holdings in Air Products and Chemicals by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 21,485,176 shares of the basic materials company’s stock valued at $6,231,560,000 after acquiring an additional 207,404 shares during the period. 81.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in 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 objective for the company in a research report on Friday, January 31st. UBS Group dropped their price target on shares of Air Products and Chemicals from $395.00 to $370.00 and set a “buy” rating for the company in a research report on Friday, March 14th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $320.00 price objective (down from $345.00) on shares of Air Products and Chemicals in a research note on Friday, February 7th. Citigroup cut their target price on Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating on the stock in a research note on Tuesday, March 25th. Finally, StockNews.com lowered Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $340.88.

Air Products and Chemicals Price Performance

Shares of NYSE APD opened at $263.35 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 1.11. The company has a 50 day simple moving average of $308.14 and a two-hundred day simple moving average of $309.39. Air Products and Chemicals, Inc. has a fifty-two week low of $227.53 and a fifty-two week high of $341.14. The company has a market capitalization of $58.59 billion, a price-to-earnings ratio of 15.29, a P/E/G ratio of 3.07 and a beta of 0.88.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Thursday, February 6th. The basic materials company reported $2.86 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%. 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 company also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $1.79 per share. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date is Tuesday, April 1st. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.72%. Air Products and Chemicals’s dividend payout ratio is presently 41.58%.

Insider Activity at Air Products and Chemicals

In related news, insider Francesco Maione sold 2,016 shares of Air Products and Chemicals stock in a transaction dated 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 sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Walter L. Nelson sold 589 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $308.50, for a total transaction of $181,706.50. Following the transaction, the vice president now owns 719 shares in the company, valued at $221,811.50. This represents a 45.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,500 shares of company stock valued at $4,842,604 over the last 90 days. Corporate 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.