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

Pictet Asset Management Holding SA increased its position in Air Products and Chemicals, Inc. (NYSE:APD) by 14.1% in the 4th quarter, HoldingsChannel reports. The fund owned 132,934 shares of the basic materials company’s stock after buying an additional 16,387 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Air Products and Chemicals were worth $38,556,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. Generali Investments Management Co LLC bought a new stake in shares of Air Products and Chemicals during the 4th quarter valued at $26,000. Raleigh Capital Management Inc. increased its stake in Air Products and Chemicals by 69.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock worth $30,000 after buying an additional 43 shares in the last quarter. Sierra Ocean LLC bought a new stake in Air Products and Chemicals during the fourth quarter valued at about $30,000. Financial Life Planners bought a new stake in Air Products and Chemicals during the fourth quarter valued at about $31,000. Finally, WR Wealth Planners LLC lifted its position in shares of Air Products and Chemicals by 40.3% in the fourth quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Insider Activity at Air Products and Chemicals

In other news, VP Walter L. Nelson sold 589 shares of Air Products and Chemicals stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $308.50, for a total transaction of $181,706.50. Following the completion of the sale, the vice president now owns 719 shares of the company’s stock, valued at approximately $221,811.50. The trade was a 45.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Sean D. Major sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $315.46, for a total value of $1,419,570.00. Following the completion of the sale, the vice president now owns 14,273 shares of the company’s stock, valued at $4,502,560.58. The trade was a 23.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,500 shares of company stock worth $4,842,604 in the last quarter. 0.41% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on APD shares. Bank of America downgraded Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 target price on the stock. in a research note on Monday, January 27th. BMO Capital Markets lowered shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research report on Friday, February 7th. Sanford C. Bernstein upgraded shares of Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price target on the stock in a report on Friday, January 31st. Barclays upgraded shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $315.00 to $365.00 in a research note on Friday, January 24th. Finally, UBS Group cut their price objective on Air Products and Chemicals from $395.00 to $370.00 and set a “buy” rating for the company in a research report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $341.47.

Air Products and Chemicals Stock Down 0.9 %

Shares of APD opened at $292.34 on Monday. 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 company has a market cap of $65.04 billion, a PE ratio of 16.98, a P/E/G ratio of 3.07 and a beta of 0.85. The business has a fifty day moving average of $311.68 and a 200 day moving average of $309.41.

Air Products and Chemicals (NYSE:APD) last released 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 return on equity of 15.78% and a net margin of 31.88%. On average, sell-side analysts expect that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be paid a dividend of $1.79 per share. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 41.58%.

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.