CIBC Asset Management Inc Has $11.50 Million Position in Air Products and Chemicals, Inc. (NYSE:APD)

CIBC Asset Management Inc increased its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 2.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 39,649 shares of the basic materials company’s stock after buying an additional 937 shares during the quarter. CIBC Asset Management Inc’s holdings in Air Products and Chemicals were worth $11,500,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Truvestments Capital LLC acquired a new stake in shares of Air Products and Chemicals during the third quarter worth approximately $25,000. Sierra Ocean LLC acquired a new stake in Air Products and Chemicals in the fourth quarter valued at approximately $30,000. Raleigh Capital Management Inc. lifted its stake in Air Products and Chemicals by 69.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 43 shares during the last quarter. Financial Life Planners acquired a new stake in Air Products and Chemicals in the fourth quarter valued at approximately $31,000. Finally, Iron Horse Wealth Management LLC lifted its stake in Air Products and Chemicals by 88.7% in the third quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 55 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Air Products and Chemicals

In other Air Products and Chemicals news, insider Francesco Maione sold 2,016 shares of the business’s stock in a transaction 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 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Sean D. Major sold 4,500 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $315.46, for a total transaction of $1,419,570.00. Following the completion of the sale, the vice president now owns 14,273 shares in the company, valued at $4,502,560.58. This represents a 23.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,749 shares of company stock valued at $3,030,032 in the last 90 days. 0.41% of the stock is currently owned by company insiders.

Air Products and Chemicals Trading Up 0.3 %

Shares of APD stock opened at $316.97 on Wednesday. Air Products and Chemicals, Inc. has a 1 year low of $225.26 and a 1 year high of $341.14. The firm’s fifty day simple moving average is $308.36 and its 200 day simple moving average is $303.85. The firm has a market capitalization of $70.49 billion, a P/E ratio of 18.41, a price-to-earnings-growth ratio of 3.47 and a beta of 0.85. The company has a current ratio of 1.11, a quick ratio of 1.34 and a debt-to-equity ratio of 0.71.

Air Products and Chemicals (NYSE:APD) last announced its quarterly 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, sell-side analysts predict that Air Products and Chemicals, Inc. will post 12.77 EPS 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. Shareholders of record on Tuesday, April 1st will be issued a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Tuesday, April 1st. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s payout ratio is 41.11%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Air Products and Chemicals from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. BNP Paribas upgraded shares of Air Products and Chemicals to a “strong-buy” rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $320.00 target price (down from $345.00) on shares of Air Products and Chemicals in a research note on Friday, February 7th. Barclays upgraded shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $315.00 to $365.00 in a research note on Friday, January 24th. Finally, Citigroup lifted their price target on shares of 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Air Products and Chemicals has an average rating of “Moderate Buy” and an average price target of $339.94.

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.