KLP Kapitalforvaltning AS Invests $21.57 Million in Air Products and Chemicals, Inc. (NYSE:APD)

KLP Kapitalforvaltning AS purchased a new position in shares of Air Products and Chemicals, Inc. (NYSE:APD) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 74,353 shares of the basic materials company’s stock, valued at approximately $21,565,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Truvestments Capital LLC bought a new position in shares of Air Products and Chemicals during the third quarter worth $25,000. Generali Investments Management Co LLC bought a new stake in Air Products and Chemicals in the 4th quarter valued at $26,000. Sierra Ocean LLC bought a new stake in Air Products and Chemicals in the 4th quarter valued at $30,000. Raleigh Capital Management Inc. lifted its position in 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 in the last quarter. Finally, Financial Life Planners bought a new stake in Air Products and Chemicals in the 4th quarter valued at $31,000. 81.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. 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. BNP Paribas raised shares of Air Products and Chemicals to a “strong-buy” rating in a research report on Tuesday, February 11th. UBS Group cut their price objective on shares of Air Products and Chemicals from $395.00 to $370.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Sanford C. Bernstein raised shares of Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price objective on the stock in a research report on Friday, January 31st. Finally, Barclays raised shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $315.00 to $365.00 in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Air Products and Chemicals currently has a consensus rating of “Moderate Buy” and an average price target of $342.65.

Air Products and Chemicals Stock Down 0.5 %

Air Products and Chemicals stock opened at $291.35 on Friday. The firm has a market capitalization of $64.82 billion, a PE ratio of 16.92, a P/E/G ratio of 3.07 and a beta of 0.85. The company’s 50-day moving average is $313.19 and its 200-day moving average is $308.45. Air Products and Chemicals, Inc. has a fifty-two week low of $227.53 and a fifty-two week high of $341.14. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 0.96.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings data on Thursday, February 6th. The basic materials company reported $2.86 earnings per share for the quarter, missing the consensus estimate 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%. Sell-side 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. Stockholders of record on Tuesday, April 1st will be paid a dividend of $1.79 per share. The ex-dividend date is Tuesday, April 1st. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 annualized dividend and a dividend yield of 2.46%. Air Products and Chemicals’s payout ratio is currently 41.58%.

Insider Buying and Selling

In related news, VP Sean D. Major sold 4,500 shares of Air Products and Chemicals stock in a transaction dated 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 of the company’s stock, valued at approximately $4,502,560.58. The trade was a 23.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Francesco Maione sold 2,016 shares of Air Products and Chemicals stock in a transaction dated 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 directly 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 15,500 shares of company stock valued at $4,842,604. Company insiders own 0.41% of the company’s stock.

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.