Geode Capital Management LLC Acquires 57,314 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Geode Capital Management LLC lifted its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 1.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,931,661 shares of the basic materials company’s stock after purchasing an additional 57,314 shares during the period. Geode Capital Management LLC’s holdings in Air Products and Chemicals were worth $1,430,354,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. 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 worth $505,000 after buying an additional 31 shares during the period. Lake Street Advisors Group LLC grew its holdings in Air Products and Chemicals by 1.6% in the fourth quarter. Lake Street Advisors Group LLC now owns 2,028 shares of the basic materials company’s stock worth $588,000 after purchasing an additional 31 shares during the period. WR Wealth Planners LLC raised its holdings in shares of Air Products and Chemicals by 40.3% during the fourth quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 31 shares during the period. Silver Oak Securities Incorporated increased its position in Air Products and Chemicals by 1.1% in the 4th quarter. Silver Oak Securities Incorporated now owns 3,074 shares of the basic materials company’s stock valued at $888,000 after buying an additional 32 shares in the last quarter. Finally, SRS Capital Advisors Inc. grew its stake in Air Products and Chemicals by 3.5% in the fourth 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 and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Trading Down 0.5 %

Shares of APD opened at $293.47 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 0.96. Air Products and Chemicals, Inc. has a 1-year low of $227.53 and a 1-year high of $341.14. The company has a market capitalization of $65.29 billion, a P/E ratio of 17.04, a P/E/G ratio of 3.07 and a beta of 0.85. The firm’s 50 day simple moving average is $310.71 and its 200 day simple moving average is $309.58.

Air Products and Chemicals (NYSE:APD) last announced its 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 return on equity of 15.78% and a net margin of 31.88%. Sell-side analysts forecast that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be given a $1.79 dividend. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date is Tuesday, April 1st. This represents a $7.16 dividend on an annualized basis and a yield of 2.44%. Air Products and Chemicals’s payout ratio is presently 41.58%.

Insiders Place Their Bets

In other news, CFO Melissa N. Schaeffer sold 3,233 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $307.32, for a total transaction of $993,565.56. Following the transaction, the chief financial officer now directly owns 10,680 shares of the company’s stock, valued at approximately $3,282,177.60. This trade represents a 23.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Sean D. Major sold 4,500 shares of the business’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 completion of the sale, the vice president now directly owns 14,273 shares of the company’s stock, valued at approximately $4,502,560.58. This trade represents a 23.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,500 shares of company stock valued at $4,842,604 over the last quarter. 0.41% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Bank of America lowered 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 report on Monday, January 27th. Citigroup dropped their price objective on shares of Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating on the stock in a research note on Tuesday, March 25th. BMO Capital Markets lowered Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. Barclays dropped their target price on Air Products and Chemicals from $365.00 to $355.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Sanford C. Bernstein raised shares of Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price objective for the company in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $340.88.

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.