Capital International Inc. CA raised its stake in Air Products and Chemicals, Inc. (NYSE:APD – Free Report) by 22.4% in the third quarter, Holdings Channel.com reports. The firm owned 127,894 shares of the basic materials company’s stock after acquiring an additional 23,407 shares during the period. Capital International Inc. CA’s holdings in Air Products and Chemicals were worth $34,879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also made changes to their positions in the company. Traub Capital Management LLC acquired a new position in shares of Air Products and Chemicals in the second quarter valued at $28,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Air Products and Chemicals in the 2nd quarter worth approximately $28,000. Abound Wealth Management lifted its position in shares of Air Products and Chemicals by 292.3% during the 3rd quarter. Abound Wealth Management now owns 102 shares of the basic materials company’s stock worth $28,000 after buying an additional 76 shares during the period. Caitlin John LLC bought a new position in shares of Air Products and Chemicals during the third quarter valued at $30,000. Finally, Cloud Capital Management LLC bought a new stake in shares of Air Products and Chemicals in the 3rd quarter worth about $34,000. Institutional investors own 81.66% of the company’s stock.
Air Products and Chemicals Stock Up 0.9%
Shares of NYSE APD opened at $274.52 on Tuesday. The company has a current ratio of 1.46, a quick ratio of 1.23 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $61.13 billion, a PE ratio of -181.80, a price-to-earnings-growth ratio of 2.67 and a beta of 0.88. The firm’s 50-day moving average is $270.62 and its 200-day moving average is $266.18. Air Products and Chemicals, Inc. has a 1 year low of $229.11 and a 1 year high of $316.39.
Air Products and Chemicals Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 11th. Stockholders of record on Wednesday, April 1st will be issued a dividend of $1.81 per share. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.79. The ex-dividend date is Wednesday, April 1st. This represents a $7.24 annualized dividend and a dividend yield of 2.6%. Air Products and Chemicals’s dividend payout ratio (DPR) is presently -474.17%.
Analyst Ratings Changes
Several brokerages have recently commented on APD. Mizuho decreased their target price on Air Products and Chemicals from $300.00 to $290.00 and set an “outperform” rating on the stock in a report on Thursday, December 18th. Wall Street Zen raised shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Citigroup raised their price objective on shares of Air Products and Chemicals from $272.00 to $285.00 and gave the company a “neutral” rating in a research report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft set a $255.00 target price on shares of Air Products and Chemicals in a research report on Wednesday, December 10th. Finally, Weiss Ratings lowered shares of Air Products and Chemicals from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, February 13th. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $295.88.
Get Our Latest Stock Analysis on APD
Insider Buying and Selling at Air Products and Chemicals
In related news, Director Ridge Lp Mantle sold 70,175 shares of the firm’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $284.21, for a total transaction of $19,944,436.75. Following the sale, the director directly owned 93,499 shares in the company, valued at $26,573,350.79. This trade represents a 42.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.88% of the stock is owned by company insiders.
Air Products and Chemicals Company Profile
Air Products and Chemicals, Inc is a global supplier of industrial gases and related equipment and services, headquartered in Allentown, Pennsylvania. The company produces and delivers atmospheric gases such as oxygen, nitrogen and argon, as well as specialty and process gases used across a wide range of industrial applications. Air Products designs, builds and operates gas production facilities, merchant distribution networks and on-site gas systems for customers that require reliable, high-purity gases and integrated supply solutions.
The company’s product and service portfolio includes packaged and bulk gas supply, pipeline distribution, on-site generation, gas handling and storage equipment, and engineered systems for gas liquefaction and purification.
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