APG Asset Management N.V. Invests $33.89 Million in Air Products and Chemicals, Inc. (NYSE:APD)

APG Asset Management N.V. bought a new stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 121,000 shares of the basic materials company’s stock, valued at approximately $33,892,000.

A number of other hedge funds have also recently made changes to their positions in the business. SG Americas Securities LLC lifted its position in shares of Air Products and Chemicals by 106.3% in the fourth quarter. SG Americas Securities LLC now owns 13,494 shares of the basic materials company’s stock worth $3,914,000 after buying an additional 6,952 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Air Products and Chemicals by 59.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 374,442 shares of the basic materials company’s stock valued at $111,488,000 after acquiring an additional 139,223 shares during the period. Wedge Capital Management L L P NC bought a new stake in Air Products and Chemicals in the fourth quarter worth about $7,269,000. Diversify Wealth Management LLC boosted its holdings in Air Products and Chemicals by 88.2% during the 4th quarter. Diversify Wealth Management LLC now owns 10,490 shares of the basic materials company’s stock valued at $3,074,000 after acquiring an additional 4,916 shares during the period. Finally, World Investment Advisors LLC boosted its stake in shares of Air Products and Chemicals by 1,205.1% during the third quarter. World Investment Advisors LLC now owns 38,423 shares of the basic materials company’s stock valued at $11,440,000 after purchasing an additional 35,479 shares during the period. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Trading Down 4.6 %

Shares of APD opened at $247.08 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’s fifty day moving average is $303.58 and its two-hundred day moving average is $308.47. The stock has a market cap of $54.97 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 3.07 and a beta of 0.89. Air Products and Chemicals, Inc. has a 52-week low of $227.53 and a 52-week high of $341.14.

Air Products and Chemicals (NYSE:APD) last posted 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%. Research analysts forecast that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Increases Dividend

The company 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 $1.79 dividend. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Tuesday, April 1st. Air Products and Chemicals’s payout ratio is currently 41.58%.

Insider Activity at Air Products and Chemicals

In other news, VP Sean D. Major sold 4,500 shares of the company’s stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 14,273 shares of the company’s stock, valued at approximately $4,502,560.58. This represents a 23.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 completion of the transaction, the chief financial officer now owns 10,680 shares in the company, valued at $3,282,177.60. This represents a 23.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,500 shares of company stock worth $4,842,604. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on APD shares. Bank of America lowered Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price target for the company. in a report on Monday, January 27th. Wells Fargo & Company raised their target price on shares of Air Products and Chemicals from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. restated a “neutral” rating and set a $320.00 price objective (down previously from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. Barclays lowered their price target on Air Products and Chemicals from $365.00 to $355.00 and set an “overweight” rating for the company in a research report on Tuesday, April 1st. Finally, StockNews.com lowered shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $340.88.

Air Products and Chemicals Company 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.