Hickory Asset Management Inc. Makes New Investment in Air Products and Chemicals, Inc. (NYSE:APD)

Hickory Asset Management Inc. acquired a new stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 2,034 shares of the basic materials company’s stock, valued at approximately $590,000.

Other institutional investors also recently bought and sold shares of the company. Truvestments Capital LLC acquired a new stake in shares of Air Products and Chemicals during the third quarter worth $25,000. Raleigh Capital Management Inc. boosted its holdings in shares of Air Products and Chemicals by 69.4% in the 4th 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 position in Air Products and Chemicals during the fourth quarter valued at $31,000. Iron Horse Wealth Management LLC boosted its holdings 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 purchasing an additional 55 shares during the last quarter. Finally, Newton One Investments LLC purchased a new position in shares of Air Products and Chemicals during the 4th quarter valued at about $38,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

APD has been the subject of several recent research reports. Redburn Atlantic upgraded Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price target for the company in a research report on Friday, October 25th. JPMorgan Chase & Co. restated a “neutral” rating and set a $320.00 price objective (down from $345.00) on shares of Air Products and Chemicals in a research report on Friday, February 7th. Wells Fargo & Company lifted their price target on Air Products and Chemicals from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Bank of America downgraded shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price objective for the company. in a report on Monday, January 27th. Finally, BMO Capital Markets cut shares of 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, seven have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $339.94.

Air Products and Chemicals Stock Up 0.5 %

Shares of NYSE:APD opened at $316.74 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 1.34. The firm has a market capitalization of $70.47 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 3.47 and a beta of 0.85. The firm’s 50-day moving average is $308.42 and its two-hundred day moving average is $302.74. Air Products and Chemicals, Inc. has a 1 year low of $220.26 and a 1 year high of $341.14.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, February 6th. The basic materials company reported $2.86 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%. Analysts predict that Air Products and Chemicals, Inc. will post 12.77 EPS for the current year.

Air Products and Chemicals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be paid a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Tuesday, April 1st. 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 presently 41.58%.

Insider Buying and Selling

In related news, VP Sean D. Major sold 4,500 shares of the company’s stock in a transaction that occurred on 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 transaction, the vice president now directly owns 14,273 shares of the company’s stock, valued at $4,502,560.58. This represents a 23.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Melissa N. Schaeffer sold 3,233 shares of Air Products and Chemicals stock in a transaction on Monday, February 10th. The stock was sold at an average price of $307.32, for a total transaction of $993,565.56. Following the sale, the chief financial officer now owns 10,680 shares in the company, valued at $3,282,177.60. This represents a 23.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,749 shares of company stock worth $3,030,032. Company insiders own 0.41% of the company’s stock.

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.