Oppenheimer Asset Management Inc. Raises Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Oppenheimer Asset Management Inc. increased its position in Air Products and Chemicals, Inc. (NYSE:APD) by 6.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 62,152 shares of the basic materials company’s stock after buying an additional 3,581 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Air Products and Chemicals were worth $18,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its stake in shares of Air Products and Chemicals by 0.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 10,772 shares of the basic materials company’s stock valued at $3,207,000 after buying an additional 52 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Air Products and Chemicals by 12.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 5,793 shares of the basic materials company’s stock valued at $1,725,000 after buying an additional 647 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Air Products and Chemicals by 5.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 67,201 shares of the basic materials company’s stock valued at $20,008,000 after buying an additional 3,259 shares during the last quarter. Traynor Capital Management Inc. purchased a new position in shares of Air Products and Chemicals during the 3rd quarter valued at about $205,000. Finally, Fidelis Capital Partners LLC raised its stake in shares of Air Products and Chemicals by 2.6% during the 3rd quarter. Fidelis Capital Partners LLC now owns 2,105 shares of the basic materials company’s stock valued at $688,000 after buying an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Down 1.1 %

Shares of NYSE APD opened at $313.79 on Thursday. The firm has a market cap of $69.81 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 3.07 and a beta of 0.85. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. Air Products and Chemicals, Inc. has a 52-week low of $227.53 and a 52-week high of $341.14. The business’s 50 day moving average is $309.18 and its two-hundred day moving average is $305.39.

Air Products and Chemicals (NYSE:APD) last announced its earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share (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%. Research analysts predict 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. Stockholders of record on Tuesday, April 1st will be given a dividend of $1.79 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.28%. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s dividend payout ratio is currently 41.11%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Wells Fargo & Company lifted their price target on Air Products and Chemicals from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Bank of America lowered Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price target for the company. in a research note on Monday, January 27th. 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 research note on Friday, January 31st. Citigroup lifted their price target on Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $320.00 price target (down previously from $345.00) on shares of Air Products and Chemicals in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, six 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 price target of $339.94.

Insider Transactions at Air Products and Chemicals

In related news, CFO Melissa N. Schaeffer sold 3,233 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $307.32, for a total transaction of $993,565.56. Following the completion of the transaction, the chief financial officer now owns 10,680 shares in the company, valued at approximately $3,282,177.60. The trade was a 23.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Sean D. Major sold 4,500 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $315.46, for a total transaction of $1,419,570.00. Following the transaction, the vice president now owns 14,273 shares of the company’s stock, valued at approximately $4,502,560.58. The trade was a 23.97 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,911 shares of company stock valued at $4,660,897. 0.41% of the stock is currently owned by company insiders.

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.