Sierra Ocean LLC Takes $30,000 Position in Air Products and Chemicals, Inc. (NYSE:APD)

Sierra Ocean LLC purchased a new stake in Air Products and Chemicals, Inc. (NYSE:APD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 102 shares of the basic materials company’s stock, valued at approximately $30,000.

Other large investors also recently made changes to their positions in the company. SG Americas Securities LLC raised its stake in Air Products and Chemicals by 106.3% during the 4th quarter. SG Americas Securities LLC now owns 13,494 shares of the basic materials company’s stock worth $3,914,000 after buying an additional 6,952 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Air Products and Chemicals by 59.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 374,442 shares of the basic materials company’s stock worth $111,488,000 after buying an additional 139,223 shares during the period. Wedge Capital Management L L P NC acquired a new stake in Air Products and Chemicals during the 4th quarter worth $7,269,000. Forsta AP Fonden raised its stake in Air Products and Chemicals by 13.4% during the 3rd quarter. Forsta AP Fonden now owns 45,700 shares of the basic materials company’s stock worth $13,607,000 after buying an additional 5,400 shares during the period. Finally, Diversify Wealth Management LLC raised its stake in Air Products and Chemicals by 88.2% during the 4th quarter. Diversify Wealth Management LLC now owns 10,490 shares of the basic materials company’s stock worth $3,074,000 after buying an additional 4,916 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Trading Up 0.3 %

Shares of NYSE:APD opened at $316.97 on Wednesday. Air Products and Chemicals, Inc. has a 52-week low of $225.26 and a 52-week high of $341.14. The company 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 50-day simple moving average of $308.36 and a 200 day simple moving average of $303.85. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.34 and a current ratio of 1.11.

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 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%. Sell-side analysts forecast that Air Products and Chemicals, Inc. will post 12.77 earnings per share 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. Shareholders of record on Tuesday, April 1st will be given a dividend of $1.79 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 annualized dividend and a yield of 2.26%. Air Products and Chemicals’s dividend payout ratio (DPR) is 41.11%.

Analyst Upgrades and Downgrades

APD has been the topic of several research analyst reports. Wells Fargo & Company raised their price objective 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. Barclays upgraded Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $315.00 to $365.00 in a report on Friday, January 24th. UBS Group increased their target price on Air Products and Chemicals from $375.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Redburn Atlantic upgraded Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 target price for the company in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $320.00 target price (down previously from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $339.94.

Insiders Place Their Bets

In other Air Products and Chemicals news, VP Sean D. Major sold 4,500 shares of the firm’s stock in a transaction that occurred 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 directly owns 14,273 shares in the company, valued at $4,502,560.58. This trade represents a 23.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Francesco Maione sold 2,016 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $306.00, for a total transaction of $616,896.00. Following the sale, the insider now owns 3,834 shares of the company’s stock, valued at $1,173,204. This trade represents a 34.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,749 shares of company stock worth $3,030,032 over the last three months. 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.