Midwest Trust Co lifted its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD – Free Report) by 12.0% in the first quarter, Holdings Channel.com reports. The institutional investor owned 51,151 shares of the basic materials company’s stock after acquiring an additional 5,487 shares during the period. Midwest Trust Co’s holdings in Air Products and Chemicals were worth $14,859,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Air Products and Chemicals in the 4th quarter valued at $1,063,906,000. Capital International Investors lifted its stake in shares of Air Products and Chemicals by 44.2% in the fourth quarter. Capital International Investors now owns 12,792,580 shares of the basic materials company’s stock worth $3,160,023,000 after acquiring an additional 3,922,567 shares during the period. Viking Global Investors LP bought a new stake in shares of Air Products and Chemicals in the 2nd quarter valued at $607,601,000. Clearbridge Investments LLC boosted its position in Air Products and Chemicals by 70.2% during the fourth quarter. Clearbridge Investments LLC now owns 2,694,659 shares of the basic materials company’s stock valued at $665,609,000 after acquiring an additional 1,111,378 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Air Products and Chemicals by 644.6% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,031,306 shares of the basic materials company’s stock valued at $281,258,000 after purchasing an additional 892,793 shares in the last quarter. Institutional investors own 81.66% of the company’s stock.
Air Products and Chemicals Trading Up 0.0%
Shares of Air Products and Chemicals stock opened at $299.54 on Monday. Air Products and Chemicals, Inc. has a 12-month low of $229.11 and a 12-month high of $314.87. The company has a current ratio of 1.43, a quick ratio of 1.21 and a debt-to-equity ratio of 0.95. The company has a market cap of $66.70 billion, a price-to-earnings ratio of 31.70, a PEG ratio of 2.72 and a beta of 0.73. The company’s 50-day moving average price is $289.94 and its 200-day moving average price is $282.19.
Air Products and Chemicals Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Wednesday, July 1st will be paid a $1.81 dividend. This represents a $7.24 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, July 1st. Air Products and Chemicals’s payout ratio is currently 76.61%.
Insider Buying and Selling
In other Air Products and Chemicals news, CFO Melissa N. Schaeffer sold 2,714 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $303.76, for a total transaction of $824,404.64. Following the sale, the chief financial officer owned 14,212 shares in the company, valued at $4,317,037.12. This trade represents a 16.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.88% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on APD shares. Berenberg Bank set a $350.00 price target on shares of Air Products and Chemicals and gave the stock a “buy” rating in a report on Monday, April 20th. Morgan Stanley upped their price target on Air Products and Chemicals from $290.00 to $310.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 5th. BMO Capital Markets raised shares of Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $360.00 price objective for the company in a research report on Friday, May 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $315.00 target price on shares of Air Products and Chemicals in a research report on Monday, May 4th. Finally, Wells Fargo & Company raised their price target on shares of Air Products and Chemicals from $325.00 to $340.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $325.82.
About Air Products and Chemicals
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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