Royal Bank of Canada Buys 34,676 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Royal Bank of Canada grew its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 1.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,397,210 shares of the basic materials company’s stock after purchasing an additional 34,676 shares during the quarter. Royal Bank of Canada’s holdings in Air Products and Chemicals were worth $695,287,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Parvin Asset Management LLC purchased a new position in Air Products and Chemicals during the 4th quarter valued at about $715,000. SG Americas Securities LLC lifted its position in Air Products and Chemicals by 106.3% during the 4th quarter. SG Americas Securities LLC now owns 13,494 shares of the basic materials company’s stock valued at $3,914,000 after acquiring an additional 6,952 shares during the period. Wedge Capital Management L L P NC purchased a new position in Air Products and Chemicals during the 4th quarter valued at about $7,269,000. Diversify Wealth Management LLC lifted its position 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, Kestra Investment Management LLC lifted its position in Air Products and Chemicals by 44.2% during the 4th quarter. Kestra Investment Management LLC now owns 4,804 shares of the basic materials company’s stock valued at $1,393,000 after acquiring an additional 1,473 shares during the period. 81.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Air Products and Chemicals

In other news, insider Kurt Lefevere sold 1,500 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $316.17, for a total value of $474,255.00. Following the transaction, the insider now owns 1,462 shares of the company’s stock, valued at approximately $462,240.54. The trade was a 50.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Victoria Brifo sold 2,362 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $315.82, for a total transaction of $745,966.84. Following the completion of the transaction, the vice president now directly owns 10,045 shares in the company, valued at $3,172,411.90. This trade represents a 19.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,751 shares of company stock valued at $1,812,572 over the last 90 days. 0.41% of the stock is currently owned by corporate insiders.

Air Products and Chemicals Price Performance

Shares of NYSE:APD opened at $278.78 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 0.96. Air Products and Chemicals, Inc. has a 1-year low of $243.69 and a 1-year high of $341.14. The company has a market capitalization of $62.04 billion, a P/E ratio of 16.19, a P/E/G ratio of 3.07 and a beta of 0.88. The firm’s 50 day simple moving average is $275.98 and its two-hundred day simple moving average is $300.11.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported $2.69 earnings per share for the quarter, missing the consensus estimate of $2.83 by ($0.14). Air Products and Chemicals had a net margin of 31.88% and a return on equity of 15.78%. The firm had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the prior year, the firm earned $2.85 EPS. Air Products and Chemicals’s revenue for the quarter was down .5% compared to the same quarter last year. Research analysts expect that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on APD shares. StockNews.com cut shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. Sanford C. Bernstein upgraded shares of 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 note on Friday, January 31st. BNP Paribas upgraded shares of Air Products and Chemicals to a “strong-buy” rating in a research note on Tuesday, February 11th. Barclays reduced their price objective on shares of Air Products and Chemicals from $355.00 to $325.00 and set an “overweight” rating for the company in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. restated 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. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Air Products and Chemicals presently has an average rating of “Moderate Buy” and a consensus target price of $330.38.

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.