Trexquant Investment LP Takes Position in Air Products and Chemicals, Inc. (NYSE:APD)

Trexquant Investment LP purchased a new position in Air Products and Chemicals, Inc. (NYSE:APD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,488 shares of the basic materials company’s stock, valued at approximately $722,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Air Products and Chemicals by 1.0% in 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 in the last quarter. Geode Capital Management LLC grew its position in Air Products and Chemicals by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 4,931,661 shares of the basic materials company’s stock valued at $1,430,354,000 after acquiring an additional 57,314 shares during the period. Norges Bank acquired a new position in Air Products and Chemicals during the fourth quarter worth $919,721,000. Raymond James Financial Inc. bought a new position in shares of Air Products and Chemicals during the fourth quarter valued at $885,371,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Air Products and Chemicals by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 2,088,449 shares of the basic materials company’s stock worth $605,734,000 after purchasing an additional 30,888 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Price Performance

Shares of APD opened at $268.88 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71. The stock has a market cap of $59.82 billion, a P/E ratio of 15.61, a price-to-earnings-growth ratio of 3.07 and a beta of 0.89. The stock’s 50-day moving average price is $298.09 and its two-hundred day moving average price is $307.63. Air Products and Chemicals, Inc. has a 1 year low of $227.53 and a 1 year high of $341.14.

Air Products and Chemicals (NYSE:APD) last issued 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 net margin of 31.88% and a return on equity of 15.78%. On average, equities analysts predict that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The firm also recently disclosed 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 represents a $7.16 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Tuesday, April 1st. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s payout ratio is 41.58%.

Insider Activity at Air Products and Chemicals

In related news, CFO Melissa N. Schaeffer sold 3,233 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $307.32, for a total value of $993,565.56. Following the completion of the transaction, the chief financial officer now directly owns 10,680 shares of the company’s stock, valued at approximately $3,282,177.60. This represents a 23.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Francesco Maione sold 2,016 shares of Air Products and Chemicals 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 completion of the sale, 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 disclosure for this sale can be found here. In the last three months, insiders sold 15,500 shares of company stock worth $4,842,604. 0.41% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. UBS Group cut 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 report on Friday, March 14th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $320.00 target price (down from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. Barclays dropped their price target on Air Products and Chemicals from $365.00 to $355.00 and set an “overweight” rating for the company in a report on Tuesday, April 1st. Bank of America lowered Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price objective on the stock. in a research note on Monday, January 27th. Finally, Citigroup lowered their target price on Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating for the company in a research note on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $338.24.

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.