Hendley & Co. Inc. boosted its position in Air Products and Chemicals, Inc. (NYSE:APD – Free Report) by 14.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,300 shares of the basic materials company’s stock after acquiring an additional 3,654 shares during the quarter. Air Products and Chemicals accounts for about 2.9% of Hendley & Co. Inc.’s holdings, making the stock its 12th biggest holding. Hendley & Co. Inc.’s holdings in Air Products and Chemicals were worth $8,208,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new position in shares of Air Products and Chemicals during the 3rd quarter worth about $25,000. Raleigh Capital Management Inc. lifted its stake in Air Products and Chemicals by 69.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 43 shares during the last quarter. Sierra Ocean LLC acquired a new position in Air Products and Chemicals in the fourth quarter valued at approximately $30,000. Financial Life Planners acquired a new position in Air Products and Chemicals in the fourth quarter valued at approximately $31,000. Finally, Newton One Investments LLC purchased a new position in Air Products and Chemicals in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 81.66% of the company’s stock.
Air Products and Chemicals Stock Down 0.2 %
Air Products and Chemicals stock opened at $309.17 on Tuesday. The stock’s 50 day moving average price is $308.55 and its 200 day moving average price is $305.06. The company has a market cap of $68.78 billion, a PE ratio of 17.95, a price-to-earnings-growth ratio of 3.07 and a beta of 0.85. 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 $227.53 and a 1-year high of $341.14.
Air Products and Chemicals Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be issued a $1.79 dividend. 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. This represents a $7.16 dividend on an annualized basis and a yield of 2.32%. Air Products and Chemicals’s dividend payout ratio (DPR) is 41.11%.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on the stock. StockNews.com cut shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Sanford C. Bernstein upgraded Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 target price on the stock in a research report on Friday, January 31st. Citigroup raised their price target on Air Products and Chemicals from $345.00 to $365.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Wells Fargo & Company raised their target price on shares of Air Products and Chemicals from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Finally, BNP Paribas raised 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, seven have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Air Products and Chemicals presently has a consensus rating of “Moderate Buy” and an average target price of $339.94.
Read Our Latest Stock Report on APD
Insider Activity
In other news, VP Victoria Brifo sold 2,362 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $315.82, for a total value of $745,966.84. Following the completion of the transaction, the vice president now owns 10,045 shares in the company, valued at $3,172,411.90. This trade represents a 19.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Wilbur Mok sold 1,300 shares of Air Products and Chemicals stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $315.88, for a total value of $410,644.00. Following the transaction, the insider now directly owns 3,193 shares of the company’s stock, valued at $1,008,604.84. This trade represents a 28.93 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 14,911 shares of company stock worth $4,660,897. Company insiders own 0.41% of the company’s stock.
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.
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