Dodge & Cox Purchases 64,960 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Dodge & Cox raised its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,663,154 shares of the basic materials company’s stock after purchasing an additional 64,960 shares during the period. Dodge & Cox owned 3.00% of Air Products and Chemicals worth $1,932,581,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Chelsea Counsel Co. increased its position in shares of Air Products and Chemicals by 1.5% during the 3rd quarter. Chelsea Counsel Co. now owns 3,377 shares of the basic materials company’s stock valued at $1,005,000 after purchasing an additional 50 shares during the last quarter. Tudor Financial Inc. bought a new stake in shares of Air Products and Chemicals during the 3rd quarter worth $1,654,000. Anchor Investment Management LLC lifted its position in Air Products and Chemicals by 35.5% in the third quarter. Anchor Investment Management LLC now owns 2,930 shares of the basic materials company’s stock valued at $872,000 after purchasing an additional 768 shares during the last quarter. World Investment Advisors LLC increased its stake in shares of Air Products and Chemicals by 1,205.1% during the third quarter. World Investment Advisors LLC now owns 38,423 shares of the basic materials company’s stock valued at $11,440,000 after buying an additional 35,479 shares during the period. Finally, Wilmington Savings Fund Society FSB grew its stake in Air Products and Chemicals by 286.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 21,299 shares of the basic materials company’s stock worth $6,342,000 after purchasing an additional 15,791 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

Insider Activity at Air Products and Chemicals

In other Air Products and Chemicals news, insider Wilbur Mok sold 1,300 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $315.88, for a total transaction of $410,644.00. Following the completion of the transaction, the insider now owns 3,193 shares in the company, valued at $1,008,604.84. The trade was a 28.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Walter L. Nelson sold 589 shares of Air Products and Chemicals stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $308.50, for a total value of $181,706.50. Following the sale, the vice president now owns 719 shares in the company, valued at $221,811.50. This trade represents a 45.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,500 shares of company stock valued at $4,842,604. 0.41% of the stock is owned by company insiders.

Air Products and Chemicals Stock Performance

Shares of NYSE APD opened at $272.42 on Tuesday. The firm has a 50 day moving average of $296.87 and a 200 day moving average of $307.49. The firm has a market capitalization of $60.61 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 3.07 and a beta of 0.89. 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 12-month low of $227.53 and a 12-month 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 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%. On average, research analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The company also recently disclosed 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 is a boost 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 dividend on an annualized basis and a yield of 2.63%. Air Products and Chemicals’s payout ratio is presently 41.58%.

Wall Street Analyst Weigh In

A number of brokerages have commented on APD. Sanford C. Bernstein raised shares of 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 report on Friday, January 31st. Bank of America cut shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price target on the stock. in a report on Monday, January 27th. BNP Paribas raised Air Products and Chemicals to a “strong-buy” rating in a research report on Tuesday, February 11th. Citigroup cut their price objective on shares of Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating for the company in a report on Tuesday, March 25th. Finally, 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $338.24.

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.