Mattern Capital Management LLC Has $9.30 Million Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Mattern Capital Management LLC trimmed its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,076 shares of the basic materials company’s stock after selling 961 shares during the quarter. Mattern Capital Management LLC’s holdings in Air Products and Chemicals were worth $9,303,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Silver Oak Securities Incorporated raised its position in shares of Air Products and Chemicals by 1.1% during the fourth quarter. Silver Oak Securities Incorporated now owns 3,074 shares of the basic materials company’s stock worth $888,000 after purchasing an additional 32 shares during the period. Bank of Stockton raised its position in shares of Air Products and Chemicals by 1.9% during the third quarter. Bank of Stockton now owns 1,813 shares of the basic materials company’s stock worth $540,000 after purchasing an additional 34 shares during the period. Financial Perspectives Inc raised its position in shares of Air Products and Chemicals by 33.3% during the fourth quarter. Financial Perspectives Inc now owns 140 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 35 shares during the period. Exchange Traded Concepts LLC raised its position in shares of Air Products and Chemicals by 22.3% during the third quarter. Exchange Traded Concepts LLC now owns 203 shares of the basic materials company’s stock worth $60,000 after purchasing an additional 37 shares during the period. Finally, Chesapeake Wealth Management raised its position in shares of Air Products and Chemicals by 1.7% during the third quarter. Chesapeake Wealth Management now owns 2,189 shares of the basic materials company’s stock worth $652,000 after purchasing an additional 37 shares during the period. 81.66% of the stock is owned by institutional investors and hedge funds.

Air Products and Chemicals Stock Down 1.0 %

Shares of NYSE APD opened at $313.97 on Friday. Air Products and Chemicals, Inc. has a one year low of $226.95 and a one year high of $341.14. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 0.96. The business’s fifty day moving average price is $308.55 and its 200-day moving average price is $304.26. The stock has a market capitalization of $69.85 billion, a PE ratio of 18.23, a P/E/G ratio of 3.14 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, February 6th. The basic materials company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates 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 research analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be issued a dividend of $1.79 per share. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $7.16 dividend on an annualized basis and a yield of 2.28%. Air Products and Chemicals’s dividend payout ratio is 41.11%.

Wall Street Analyst Weigh In

APD has been the subject of several recent research reports. UBS Group upped their price target on Air Products and Chemicals from $375.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Citigroup upped their price target on Air Products and Chemicals from $345.00 to $365.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Wells Fargo & Company upped their price target on Air Products and Chemicals from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Bank of America downgraded Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price target for the company. in a report on Monday, January 27th. Finally, Sanford C. Bernstein upgraded Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price target for the company in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $339.94.

Insider Buying and Selling

In related news, insider Wilbur Mok sold 1,300 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $315.88, for a total transaction of $410,644.00. Following the sale, the insider now owns 3,193 shares of the company’s stock, valued at approximately $1,008,604.84. This represents a 28.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Victoria Brifo sold 2,362 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $315.82, for a total value of $745,966.84. Following the sale, 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. In the last quarter, insiders have sold 13,411 shares of company stock valued at $4,186,642. Corporate 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.