Syntax Research Inc. Has $2.36 Million Position in Air Products and Chemicals, Inc. (NYSE:APD)

Syntax Research Inc. reduced its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 20.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,122 shares of the basic materials company’s stock after selling 2,100 shares during the quarter. Air Products and Chemicals accounts for 1.7% of Syntax Research Inc.’s portfolio, making the stock its 24th largest position. Syntax Research Inc.’s holdings in Air Products and Chemicals were worth $2,356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Air Products and Chemicals by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 21,485,176 shares of the basic materials company’s stock worth $6,231,560,000 after acquiring an additional 207,404 shares in the last quarter. Geode Capital Management LLC raised its stake in Air Products and Chemicals by 1.9% during the third quarter. Geode Capital Management LLC now owns 4,874,347 shares of the basic materials company’s stock worth $1,448,570,000 after acquiring an additional 88,806 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Air Products and Chemicals during the fourth quarter worth $885,371,000. Bank of New York Mellon Corp raised its stake in Air Products and Chemicals by 1.5% during the fourth quarter. Bank of New York Mellon Corp now owns 2,088,449 shares of the basic materials company’s stock worth $605,734,000 after acquiring an additional 30,888 shares in the last quarter. Finally, National Bank of Canada FI raised its stake in Air Products and Chemicals by 3.9% during the third quarter. National Bank of Canada FI now owns 1,867,290 shares of the basic materials company’s stock worth $555,967,000 after acquiring an additional 70,759 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Air Products and Chemicals Price Performance

Shares of APD opened at $291.35 on Monday. 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, Inc. has a 1 year low of $227.53 and a 1 year high of $341.14. The stock has a market cap of $64.82 billion, a P/E ratio of 16.92, a price-to-earnings-growth ratio of 3.07 and a beta of 0.85. The stock’s 50-day moving average price is $313.19 and its two-hundred day moving average price is $308.69.

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 analysts’ consensus estimates 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%. On average, equities analysts predict that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $1.79 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $7.16 dividend on an annualized basis and a yield of 2.46%. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s dividend payout ratio (DPR) is 41.58%.

Insiders Place Their Bets

In related news, VP Walter L. Nelson sold 589 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $308.50, for a total value of $181,706.50. Following the completion of the transaction, the vice president now directly owns 719 shares in the company, valued at approximately $221,811.50. The trade was a 45.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Francesco Maione sold 2,016 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $306.00, for a total value of $616,896.00. Following the completion of the transaction, the insider now owns 3,834 shares of the company’s stock, 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. Over the last quarter, insiders have sold 15,500 shares of company stock worth $4,842,604. Insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of 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 for the company. in a research note on Monday, January 27th. UBS Group lowered their target price on Air Products and Chemicals from $395.00 to $370.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Barclays upgraded Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $315.00 to $365.00 in a research note on Friday, January 24th. BNP Paribas upgraded Air Products and Chemicals to a “strong-buy” rating in a research note on Tuesday, February 11th. Finally, Sanford C. Bernstein upgraded Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 target price for the company in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Air Products and Chemicals has an average rating of “Moderate Buy” and a consensus price target of $342.65.

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.