Millstone Evans Group LLC Makes New $374,000 Investment in Air Products and Chemicals, Inc. (NYSE:APD)

Millstone Evans Group LLC bought a new position in Air Products and Chemicals, Inc. (NYSE:APD) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,288 shares of the basic materials company’s stock, valued at approximately $374,000.

A number of other hedge funds have also recently modified their holdings of the business. First Horizon Advisors Inc. grew its position in shares of Air Products and Chemicals by 1.8% during the 4th quarter. First Horizon Advisors Inc. now owns 1,742 shares of the basic materials company’s stock valued at $505,000 after acquiring an additional 31 shares during the period. Lake Street Advisors Group LLC grew its position in shares of Air Products and Chemicals by 1.6% during the 4th quarter. Lake Street Advisors Group LLC now owns 2,028 shares of the basic materials company’s stock valued at $588,000 after acquiring an additional 31 shares during the period. WR Wealth Planners LLC grew its position in shares of Air Products and Chemicals by 40.3% during the 4th 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 during the period. Silver Oak Securities Incorporated grew its position in shares of Air Products and Chemicals by 1.1% during the 4th quarter. Silver Oak Securities Incorporated now owns 3,074 shares of the basic materials company’s stock valued at $888,000 after acquiring an additional 32 shares during the period. Finally, SRS Capital Advisors Inc. grew its position in shares of Air Products and Chemicals by 3.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 974 shares of the basic materials company’s stock valued at $282,000 after acquiring an additional 33 shares during the period. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

Shares of NYSE:APD opened at $291.35 on Friday. The company has a market capitalization of $64.82 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 3.07 and a beta of 0.85. Air Products and Chemicals, Inc. has a 12 month low of $227.53 and a 12 month high of $341.14. The firm’s 50-day moving average is $313.19 and its 200 day moving average is $308.22. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, February 6th. The basic materials company reported $2.86 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%. Research analysts predict 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 declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 2.46%. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio is presently 41.58%.

Analyst Upgrades and Downgrades

APD has been the subject of a number of recent research reports. Barclays raised shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $315.00 to $365.00 in a research report on Friday, January 24th. Bank of America cut shares of 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. JPMorgan Chase & Co. restated a “neutral” rating and set a $320.00 target price (down previously from $345.00) on shares of Air Products and Chemicals in a research note on Friday, February 7th. 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. Finally, Sanford C. Bernstein upgraded shares of 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Air Products and Chemicals presently has an average rating of “Moderate Buy” and an average target price of $342.65.

Insider Activity at Air Products and Chemicals

In other Air Products and Chemicals news, VP Sean D. Major sold 4,500 shares of the company’s stock in a transaction dated 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 transaction, the vice president now directly owns 14,273 shares in the company, valued at $4,502,560.58. This represents a 23.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Francesco Maione sold 2,016 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $306.00, for a total transaction of $616,896.00. Following the completion of the transaction, the insider now owns 3,834 shares in the company, valued at $1,173,204. This represents a 34.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,500 shares of company stock worth $4,842,604. Insiders own 0.41% of the company’s stock.

About Air Products and Chemicals

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.