Invesco Ltd. Increases Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Invesco Ltd. lifted its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 4.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,004,813 shares of the basic materials company’s stock after purchasing an additional 39,518 shares during the quarter. Invesco Ltd. owned about 0.45% of Air Products and Chemicals worth $291,436,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its position 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 worth $6,231,560,000 after buying an additional 207,404 shares during the last quarter. Geode Capital Management LLC raised its holdings in Air Products and Chemicals by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 4,931,661 shares of the basic materials company’s stock worth $1,430,354,000 after purchasing an additional 57,314 shares in the last quarter. Norges Bank purchased a new position in Air Products and Chemicals during the fourth quarter worth about $919,721,000. Raymond James Financial Inc. acquired a new stake in Air Products and Chemicals in the fourth quarter valued at about $885,371,000. Finally, FMR LLC boosted its holdings in Air Products and Chemicals by 4.4% in the 4th quarter. FMR LLC now owns 2,315,245 shares of the basic materials company’s stock valued at $671,514,000 after purchasing an additional 98,346 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on APD. UBS Group reduced their price target on Air Products and Chemicals from $395.00 to $370.00 and set a “buy” rating for the company in a report on Friday, March 14th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $320.00 target price (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 shares of Air Products and Chemicals from $365.00 to $355.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 1st. Bank of America cut shares of 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. Finally, BNP Paribas upgraded shares of Air Products and Chemicals to a “strong-buy” rating in a research report on Tuesday, February 11th. 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. Based on data from MarketBeat, Air Products and Chemicals currently has a consensus rating of “Moderate Buy” and a consensus target price of $338.24.

Insiders Place Their Bets

In other news, insider Francesco Maione sold 2,016 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $306.00, for a total transaction of $616,896.00. Following the transaction, the insider now directly owns 3,834 shares in the company, valued at $1,173,204. This represents a 34.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Walter L. Nelson sold 589 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $308.50, for a total transaction of $181,706.50. Following the completion of the sale, the vice president now owns 719 shares of the company’s stock, valued at approximately $221,811.50. The trade was a 45.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 15,500 shares of company stock valued at $4,842,604. Company insiders own 0.41% of the company’s stock.

Air Products and Chemicals Stock Performance

NYSE APD opened at $261.07 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. Air Products and Chemicals, Inc. has a fifty-two week low of $227.53 and a fifty-two week high of $341.14. The business has a fifty day moving average of $299.42 and a 200-day moving average of $307.81. The stock has a market cap of $58.08 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 3.07 and a beta of 0.89.

Air Products and Chemicals (NYSE:APD) last announced 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 net margin of 31.88% and a return on equity of 15.78%. As a group, analysts predict 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. Investors of record on Tuesday, April 1st will be given a dividend of $1.79 per share. 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 2.74%. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s dividend payout ratio (DPR) is 41.58%.

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.