Redmond Asset Management LLC Purchases New Shares in Air Products and Chemicals, Inc. (NYSE:APD)

Redmond Asset Management LLC purchased a new stake in Air Products and Chemicals, Inc. (NYSE:APD) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,250 shares of the basic materials company’s stock, valued at approximately $653,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Ipswich Investment Management Co. Inc. boosted its position in shares of Air Products and Chemicals by 6.9% during the 4th quarter. Ipswich Investment Management Co. Inc. now owns 3,495 shares of the basic materials company’s stock valued at $1,014,000 after acquiring an additional 225 shares during the last quarter. Bank of Stockton boosted its holdings in Air Products and Chemicals by 10.9% in the fourth quarter. Bank of Stockton now owns 2,011 shares of the basic materials company’s stock valued at $583,000 after purchasing an additional 198 shares during the period. PYA Waltman Capital LLC boosted its holdings in Air Products and Chemicals by 1.9% in the fourth quarter. PYA Waltman Capital LLC now owns 3,577 shares of the basic materials company’s stock valued at $1,038,000 after purchasing an additional 67 shares during the period. Compass Capital Corp MA ADV purchased a new stake in Air Products and Chemicals during the 4th quarter worth about $322,000. Finally, Cordatus Wealth Management LLC purchased a new stake in Air Products and Chemicals during the 4th quarter worth about $2,216,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Insiders Place Their Bets

In related news, insider Wilbur Mok sold 1,300 shares of Air Products and Chemicals stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $315.88, for a total transaction of $410,644.00. Following the sale, the insider now directly owns 3,193 shares of the company’s stock, valued at approximately $1,008,604.84. The trade was a 28.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Melissa N. Schaeffer sold 3,233 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $307.32, for a total transaction of $993,565.56. Following the sale, the chief financial officer now directly owns 10,680 shares in the company, valued at $3,282,177.60. The trade was a 23.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,911 shares of company stock worth $4,660,897 in the last quarter. 0.41% of the stock is currently owned by corporate insiders.

Air Products and Chemicals Trading Down 1.4 %

Shares of NYSE APD opened at $310.02 on Friday. Air Products and Chemicals, Inc. has a fifty-two week low of $227.10 and a fifty-two week 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 company’s 50 day simple moving average is $308.50 and its 200 day simple moving average is $304.66. The firm has a market capitalization of $68.97 billion, a P/E ratio of 18.00, a P/E/G ratio of 3.12 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share 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, analysts predict 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 disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be paid a $1.79 dividend. 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 annualized dividend and a yield of 2.31%. Air Products and Chemicals’s payout ratio is 41.11%.

Analysts Set New Price Targets

A number of analysts have recently commented on APD shares. Citigroup lifted their target price on Air Products and Chemicals from $345.00 to $365.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Wells Fargo & Company boosted their price target on Air Products and Chemicals from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. reissued a “neutral” rating and set 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. Sanford C. Bernstein raised Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 target price on the stock in a research note on Friday, January 31st. Finally, Barclays upgraded Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $315.00 to $365.00 in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Air Products and Chemicals has an average rating of “Moderate Buy” and an average price target of $339.94.

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.