Envestnet Asset Management Inc. Boosts Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Envestnet Asset Management Inc. raised its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 717,110 shares of the basic materials company’s stock after buying an additional 8,908 shares during the period. Envestnet Asset Management Inc.’s holdings in Air Products and Chemicals were worth $207,991,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Air Products and Chemicals in the 4th quarter worth $919,721,000. Raymond James Financial Inc. bought a new stake in Air Products and Chemicals during the fourth quarter valued at about $885,371,000. Orion Portfolio Solutions LLC increased its position in Air Products and Chemicals by 1,615.5% in the fourth quarter. Orion Portfolio Solutions LLC now owns 530,005 shares of the basic materials company’s stock worth $153,723,000 after buying an additional 499,110 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Air Products and Chemicals in the fourth quarter worth about $71,307,000. Finally, Vanguard Group Inc. grew its stake in shares of Air Products and Chemicals by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 21,485,176 shares of the basic materials company’s stock valued at $6,231,560,000 after acquiring an additional 207,404 shares during the period. 81.66% of the stock is currently owned by institutional investors.

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 dated Friday, February 7th. The shares were sold at an average price of $315.46, for a total value 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 $4,502,560.58. This trade represents a 23.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Francesco Maione sold 2,016 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $306.00, for a total value of $616,896.00. Following the transaction, the insider now directly owns 3,834 shares in the company, valued at approximately $1,173,204. This represents a 34.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,500 shares of company stock valued at $4,842,604 over the last three months. 0.41% of the stock is owned by company insiders.

Air Products and Chemicals Price Performance

APD stock opened at $263.35 on Monday. The company has a fifty day simple moving average of $308.14 and a two-hundred day simple moving average of $309.39. 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 has a market capitalization of $58.59 billion, a P/E ratio of 15.29, a price-to-earnings-growth ratio of 3.07 and a beta of 0.88.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings results on Thursday, February 6th. The basic materials company reported $2.86 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%. Analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 2.72%. 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. Air Products and Chemicals’s dividend payout ratio is presently 41.58%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on APD shares. Wells Fargo & Company lifted their price target on shares of Air Products and Chemicals from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, February 7th. BMO Capital Markets cut shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. Barclays cut their price target on Air Products and Chemicals from $365.00 to $355.00 and set an “overweight” rating for the company in a research note on Tuesday, April 1st. Sanford C. Bernstein upgraded 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, Citigroup cut their target price on Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating for the company in a research report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Air Products and Chemicals currently has a consensus rating of “Moderate Buy” and an average target price of $340.88.

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.