Ontario Teachers Pension Plan Board lifted its position in Air Products & Chemicals, Inc. (NYSE:APD) by 58.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,640 shares of the basic materials company’s stock after purchasing an additional 7,283 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Air Products & Chemicals were worth $3,750,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of APD. IMA Wealth Inc. increased its stake in Air Products & Chemicals by 285.7% during the first quarter. IMA Wealth Inc. now owns 135 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 100 shares during the last quarter. Field & Main Bank bought a new position in shares of Air Products & Chemicals during the first quarter valued at approximately $27,000. Athena Capital Advisors LLC bought a new position in shares of Air Products & Chemicals during the fourth quarter valued at approximately $28,000. Destination Wealth Management bought a new position in shares of Air Products & Chemicals during the first quarter valued at approximately $40,000. Finally, Old North State Trust LLC grew its stake in shares of Air Products & Chemicals by 376.1% during the fourth quarter. Old North State Trust LLC now owns 219 shares of the basic materials company’s stock valued at $35,000 after buying an additional 173 shares during the last quarter. 87.06% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE APD traded up $2.87 during midday trading on Friday, reaching $226.37. 1,521,900 shares of the company were exchanged, compared to its average volume of 1,183,335. The company has a market capitalization of $49.29 billion, a PE ratio of 30.39, a P/E/G ratio of 2.22 and a beta of 0.80. The company has a current ratio of 2.36, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. Air Products & Chemicals, Inc. has a 1 year low of $148.44 and a 1 year high of $226.65. The company’s fifty day moving average is $213.34.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Shareholders of record on Monday, July 1st will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.05%. The ex-dividend date is Friday, June 28th. Air Products & Chemicals’s dividend payout ratio (DPR) is 62.28%.
A number of research analysts have recently commented on the company. Credit Suisse Group upped their target price on Air Products & Chemicals from $200.00 to $222.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Zacks Investment Research cut Air Products & Chemicals from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. BMO Capital Markets boosted their price target on Air Products & Chemicals to $235.00 and gave the company an “outperform” rating in a report on Monday, May 13th. JPMorgan Chase & Co. boosted their price target on Air Products & Chemicals from $207.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, June 7th. Finally, Barclays boosted their price target on Air Products & Chemicals from $184.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $213.00.
In other news, VP Russell A. Flugel sold 2,970 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $207.01, for a total value of $614,819.70. Following the completion of the transaction, the vice president now directly owns 6,387 shares in the company, valued at $1,322,172.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.35% of the stock is currently owned by corporate insiders.
Air Products & Chemicals Profile
Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.
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