Robertson Stephens Wealth Management LLC Raises Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Robertson Stephens Wealth Management LLC boosted its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 25.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,668 shares of the basic materials company’s stock after acquiring an additional 334 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Air Products and Chemicals were worth $484,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. SG Americas Securities LLC raised its holdings in Air Products and Chemicals by 106.3% in the fourth quarter. SG Americas Securities LLC now owns 13,494 shares of the basic materials company’s stock worth $3,914,000 after buying an additional 6,952 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Air Products and Chemicals by 59.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 374,442 shares of the basic materials company’s stock worth $111,488,000 after buying an additional 139,223 shares during the last quarter. Wedge Capital Management L L P NC purchased a new position in Air Products and Chemicals in the fourth quarter worth about $7,269,000. Forsta AP Fonden raised its holdings in Air Products and Chemicals by 13.4% in the third quarter. Forsta AP Fonden now owns 45,700 shares of the basic materials company’s stock worth $13,607,000 after buying an additional 5,400 shares during the last quarter. Finally, Diversify Wealth Management LLC raised its holdings in Air Products and Chemicals by 88.2% in the fourth quarter. Diversify Wealth Management LLC now owns 10,490 shares of the basic materials company’s stock worth $3,074,000 after buying an additional 4,916 shares during the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Performance

APD opened at $310.66 on Friday. The firm has a market cap of $69.09 billion, a P/E ratio of 18.08, a PEG ratio of 3.55 and a beta of 0.85. Air Products and Chemicals, Inc. has a 1-year low of $213.80 and a 1-year high of $341.14. The company has a 50 day simple moving average of $310.30 and a two-hundred day simple moving average of $300.85. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.52 and a quick ratio of 1.34.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.27). Air Products and Chemicals had a return on equity of 16.34% and a net margin of 31.64%. Equities analysts forecast that Air Products and Chemicals, Inc. will post 12.76 earnings per share for the current fiscal year.

Air Products and Chemicals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be issued a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Tuesday, April 1st. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s payout ratio is 41.21%.

Analyst Upgrades and Downgrades

APD has been the subject of several recent analyst reports. Sanford C. Bernstein raised shares of Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 target price for the company in a report on Friday, January 31st. Citigroup lifted their price target on shares of 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. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $320.00 price target (down from $345.00) on shares of Air Products and Chemicals in a research note on Friday. StockNews.com lowered shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Redburn Atlantic upgraded shares of Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price target for the company in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $339.94.

Air Products and Chemicals 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.