SVB Wealth LLC Acquires Shares of 42,164 Air Products and Chemicals, Inc. (NYSE:APD)

SVB Wealth LLC bought a new position in shares of Air Products and Chemicals, Inc. (NYSE:APD) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 42,164 shares of the basic materials company’s stock, valued at approximately $12,229,000.

A number of other large investors have also made changes to their positions in APD. SG Americas Securities LLC increased its stake in shares of Air Products and Chemicals by 106.3% in the 4th quarter. SG Americas Securities LLC now owns 13,494 shares of the basic materials company’s stock worth $3,914,000 after acquiring an additional 6,952 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Air Products and Chemicals by 59.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 374,442 shares of the basic materials company’s stock worth $111,488,000 after purchasing an additional 139,223 shares during the last quarter. Wedge Capital Management L L P NC acquired a new stake in Air Products and Chemicals during the fourth quarter worth about $7,269,000. Diversify Wealth Management LLC raised its stake in Air Products and Chemicals by 88.2% during the fourth quarter. Diversify Wealth Management LLC now owns 10,490 shares of the basic materials company’s stock worth $3,074,000 after purchasing an additional 4,916 shares during the period. Finally, Jensen Investment Management Inc. boosted its holdings in Air Products and Chemicals by 65.0% in the 3rd quarter. Jensen Investment Management Inc. now owns 13,170 shares of the basic materials company’s stock valued at $3,921,000 after purchasing an additional 5,190 shares during the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Sean D. Major sold 4,500 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was 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. The trade was a 23.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kurt Lefevere sold 1,500 shares of Air Products and Chemicals stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $316.17, for a total value of $474,255.00. Following the transaction, the insider now directly owns 1,462 shares in the company, valued at approximately $462,240.54. This trade represents a 50.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,911 shares of company stock worth $4,660,897. 0.41% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on APD. BNP Paribas raised shares of Air Products and Chemicals to a “strong-buy” rating in a research report on Tuesday, February 11th. Citigroup lifted their target price on Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Bank of America cut Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price target for the company. in a report on Monday, January 27th. BMO Capital Markets downgraded Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research report on Friday, February 7th. Finally, StockNews.com cut shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Air Products and Chemicals presently has an average rating of “Moderate Buy” and an average target price of $339.94.

Air Products and Chemicals Price Performance

APD stock opened at $316.55 on Friday. Air Products and Chemicals, Inc. has a 1 year low of $227.53 and a 1 year high of $341.14. The firm has a market capitalization of $70.42 billion, a P/E ratio of 18.38, a P/E/G ratio of 3.07 and a beta of 0.85. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 0.96. The business’s 50-day moving average is $310.00 and its two-hundred day moving average is $305.74.

Air Products and Chemicals (NYSE:APD) last issued its quarterly 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%. Analysts anticipate 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be given a dividend of $1.79 per share. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio is currently 41.58%.

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.