Erste Asset Management GmbH Increases Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Erste Asset Management GmbH boosted its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 15.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,717 shares of the basic materials company’s stock after acquiring an additional 7,630 shares during the quarter. Erste Asset Management GmbH’s holdings in Air Products and Chemicals were worth $16,706,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Prime Capital Investment Advisors LLC lifted its stake in shares of Air Products and Chemicals by 3.6% in the third quarter. Prime Capital Investment Advisors LLC now owns 4,443 shares of the basic materials company’s stock worth $1,323,000 after acquiring an additional 155 shares in the last quarter. Aptus Capital Advisors LLC increased its holdings in Air Products and Chemicals by 20.0% during the 3rd quarter. Aptus Capital Advisors LLC now owns 3,386 shares of the basic materials company’s stock worth $1,008,000 after purchasing an additional 565 shares during the last quarter. Schrum Private Wealth Management LLC acquired a new position in shares of Air Products and Chemicals in the 3rd quarter valued at approximately $225,000. Summit Asset Management LLC purchased a new position in shares of Air Products and Chemicals during the 3rd quarter valued at approximately $265,000. Finally, Zions Bancorporation N.A. boosted its stake in shares of Air Products and Chemicals by 19.5% during the 3rd quarter. Zions Bancorporation N.A. now owns 2,947 shares of the basic materials company’s stock valued at $877,000 after buying an additional 480 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. 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 report on Friday, January 31st. Barclays upgraded Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $315.00 to $365.00 in a research note on Friday, January 24th. JPMorgan Chase & Co. restated a “neutral” rating and set a $320.00 price objective (down previously from $345.00) on shares of Air Products and Chemicals in a research note on Friday, February 7th. UBS Group lifted their target price on Air Products and Chemicals from $375.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company upped their price target on Air Products and Chemicals from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $343.53.

Air Products and Chemicals Price Performance

NYSE APD opened at $292.53 on Friday. The company has a 50-day moving average price of $312.38 and a two-hundred day moving average price of $307.60. Air Products and Chemicals, Inc. has a 52 week low of $227.53 and a 52 week high of $341.14. The stock has a market cap of $65.08 billion, a price-to-earnings ratio of 16.99, a price-to-earnings-growth ratio of 3.07 and a beta of 0.85. 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 data 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%. 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. Investors of record on Tuesday, April 1st will be issued a dividend of $1.79 per share. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend is Tuesday, April 1st. Air Products and Chemicals’s payout ratio is presently 41.58%.

Insiders Place Their Bets

In related news, CFO Melissa N. Schaeffer sold 3,233 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $307.32, for a total transaction of $993,565.56. Following the completion of the sale, the chief financial officer now directly owns 10,680 shares of the company’s stock, valued at $3,282,177.60. This represents a 23.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Francesco Maione sold 2,016 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $306.00, for a total transaction of $616,896.00. Following the sale, the insider now owns 3,834 shares of the company’s stock, valued at $1,173,204. The trade was a 34.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,500 shares of company stock worth $4,842,604. 0.41% of the stock is owned by corporate insiders.

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.