Intrust Bank NA Increases Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Intrust Bank NA grew its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 3.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,910 shares of the basic materials company’s stock after purchasing an additional 103 shares during the quarter. Intrust Bank NA’s holdings in Air Products and Chemicals were worth $844,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Norges Bank purchased a new stake in Air Products and Chemicals during the fourth quarter valued at approximately $919,721,000. Raymond James Financial Inc. bought a new stake in shares of Air Products and Chemicals during the 4th quarter valued at $885,371,000. Sachem Head Capital Management LP purchased a new stake in shares of Air Products and Chemicals in the 3rd quarter worth $163,013,000. TOMS Capital Investment Management LP bought a new position in Air Products and Chemicals in the 3rd quarter worth $159,886,000. Finally, Orion Portfolio Solutions LLC grew its holdings in Air Products and Chemicals by 1,615.5% during the fourth quarter. Orion Portfolio Solutions LLC now owns 530,005 shares of the basic materials company’s stock valued at $153,723,000 after purchasing an additional 499,110 shares during the period. Institutional investors own 81.66% of the company’s stock.

Insiders Place Their Bets

In related news, VP Walter L. Nelson sold 589 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $308.50, for a total value of $181,706.50. Following the transaction, the vice president now owns 719 shares of the company’s stock, valued at $221,811.50. This trade represents a 45.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Sean D. Major sold 4,500 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $315.46, for a total transaction of $1,419,570.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,500 shares of company stock worth $4,842,604 over the last quarter. Company insiders own 0.41% of the company’s stock.

Air Products and Chemicals Price Performance

Air Products and Chemicals stock opened at $292.34 on Friday. Air Products and Chemicals, Inc. has a 52-week low of $227.53 and a 52-week high of $341.14. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. The firm’s fifty day moving average is $311.68 and its 200 day moving average is $309.19. The company has a market cap of $65.04 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 3.07 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data 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 return on equity of 15.78% and a net margin of 31.88%. Sell-side analysts forecast that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Increases Dividend

The firm 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 $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 2.45%. The ex-dividend date is Tuesday, April 1st. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s dividend payout ratio is 41.58%.

Analysts Set New Price Targets

Several research firms have recently commented on APD. UBS Group decreased their price objective on Air Products and Chemicals from $395.00 to $370.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $320.00 price target (down previously from $345.00) on shares of Air Products and Chemicals in a report 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 on the stock. in a research report on Monday, January 27th. Wells Fargo & Company upped their target price on shares of Air Products and Chemicals from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. 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 analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Air Products and Chemicals has an average rating of “Moderate Buy” and an average price target of $341.47.

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.