Birnam Oak Advisors LP Purchases New Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Birnam Oak Advisors LP acquired a new stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,000 shares of the basic materials company’s stock, valued at approximately $1,160,000. Air Products and Chemicals makes up 0.6% of Birnam Oak Advisors LP’s investment portfolio, making the stock its 22nd largest position.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in Air Products and Chemicals in the fourth quarter valued at $885,371,000. Sachem Head Capital Management LP bought a new position in shares of Air Products and Chemicals during the 3rd quarter worth about $163,013,000. TOMS Capital Investment Management LP bought a new position in shares of Air Products and Chemicals during the 3rd quarter worth about $159,886,000. Proficio Capital Partners LLC bought a new position in shares of Air Products and Chemicals during the 4th quarter worth about $71,307,000. Finally, Bank of Montreal Can raised its holdings in shares of Air Products and Chemicals by 25.2% in the 3rd quarter. Bank of Montreal Can now owns 1,165,733 shares of the basic materials company’s stock worth $350,139,000 after acquiring an additional 234,322 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Air Products and Chemicals news, insider Wilbur Mok sold 1,300 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $315.88, for a total transaction of $410,644.00. Following the completion of the sale, the insider now owns 3,193 shares of the company’s stock, valued at $1,008,604.84. This represents a 28.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Sean D. Major sold 4,500 shares of the stock in a transaction that occurred on 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 $4,502,560.58. This represents a 23.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,500 shares of company stock worth $4,842,604 over the last 90 days. Company insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on APD. StockNews.com lowered shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Wells Fargo & Company raised their price objective on shares of Air Products and Chemicals from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $320.00 price target (down from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. BNP Paribas raised shares of Air Products and Chemicals to a “strong-buy” rating in a report on Tuesday, February 11th. Finally, Bank of America downgraded shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price objective for the company. in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $342.65.

Air Products and Chemicals Price Performance

Air Products and Chemicals stock opened at $295.96 on Tuesday. 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 company has a market capitalization of $65.84 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 3.07 and a beta of 0.85. The company’s 50 day simple moving average is $312.79 and its 200-day simple moving average is $308.25. Air Products and Chemicals, Inc. has a 1 year low of $227.53 and a 1 year high of $341.14.

Air Products and Chemicals (NYSE:APD) last issued 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 net margin of 31.88% and a return on equity of 15.78%. As a group, equities research analysts expect that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The firm 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 $1.79 dividend. This is a positive change 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 annualized dividend and a yield of 2.42%. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 41.58%.

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.