Kirtland Hills Capital Management LLC Has $897,000 Position in Air Products and Chemicals, Inc. (NYSE:APD)

Kirtland Hills Capital Management LLC grew its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 3.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,094 shares of the basic materials company’s stock after purchasing an additional 96 shares during the period. Kirtland Hills Capital Management LLC’s holdings in Air Products and Chemicals were worth $897,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Truvestments Capital LLC acquired a new position in shares of Air Products and Chemicals during the third quarter valued at about $25,000. Raleigh Capital Management Inc. raised its position in Air Products and Chemicals by 69.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 43 shares in the last quarter. Sierra Ocean LLC acquired a new position in Air Products and Chemicals in the fourth quarter worth about $30,000. Financial Life Planners acquired a new position in Air Products and Chemicals in the fourth quarter worth about $31,000. Finally, Newton One Investments LLC acquired a new position in Air Products and Chemicals in the fourth quarter worth about $38,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Price Performance

Shares of APD stock opened at $317.51 on Wednesday. The firm’s 50 day moving average price is $308.81 and its two-hundred day moving average price is $305.34. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 1.11. The stock has a market cap of $70.64 billion, a PE ratio of 18.44, a PEG ratio of 3.07 and a beta of 0.85. Air Products and Chemicals, Inc. has a 52-week low of $227.53 and a 52-week high of $341.14.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. As a group, analysts forecast that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be issued a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.26%. 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. Air Products and Chemicals’s dividend payout ratio is presently 41.11%.

Wall Street Analysts Forecast Growth

APD has been the subject of several recent research reports. BNP Paribas raised shares of Air Products and Chemicals to a “strong-buy” rating in a research report on Tuesday, February 11th. Wells Fargo & Company increased their price target on shares of Air Products and Chemicals from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. reissued 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 report on Friday, February 7th. Citigroup increased their price target on shares of 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. Finally, BMO Capital Markets cut shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $339.94.

Insider Activity at Air Products and Chemicals

In related news, insider Kurt Lefevere sold 1,500 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $316.17, for a total transaction of $474,255.00. Following the sale, the insider now owns 1,462 shares in the company, valued at approximately $462,240.54. This trade represents a 50.64 % decrease in their position. 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 stock in a transaction that occurred 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 sale, the vice president now owns 14,273 shares in the company, valued at $4,502,560.58. This represents a 23.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,911 shares of company stock worth $4,660,897. Insiders own 0.41% of the company’s stock.

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.