Forum Financial Management LP Has $1.57 Million Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Forum Financial Management LP raised its position in Air Products and Chemicals, Inc. (NYSE:APD) by 189.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,423 shares of the basic materials company’s stock after acquiring an additional 3,549 shares during the quarter. Forum Financial Management LP’s holdings in Air Products and Chemicals were worth $1,573,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Generation Capital Management LLC acquired a new stake in Air Products and Chemicals in the 4th quarter valued at about $1,206,000. Capital International Investors bought a new stake in Air Products and Chemicals in the fourth quarter valued at approximately $436,636,000. Ally Financial Inc. acquired a new stake in shares of Air Products and Chemicals in the fourth quarter valued at approximately $2,465,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Air Products and Chemicals during the 4th quarter worth approximately $50,000. Finally, Farringdon Capital Ltd. acquired a new position in shares of Air Products and Chemicals during the 4th quarter worth approximately $750,000. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

Shares of NYSE:APD opened at $262.88 on Friday. The company’s 50 day simple moving average is $292.75 and its 200 day simple moving average is $306.44. 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, Inc. has a 1 year low of $228.81 and a 1 year high of $341.14. The stock has a market capitalization of $58.48 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 3.07 and a beta of 0.89.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share 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%. As a group, research analysts predict 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 announced a quarterly dividend, which will be paid on Monday, May 12th. Investors 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 2.72%. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 41.58%.

Analyst Upgrades and Downgrades

APD has been the topic of several research reports. BNP Paribas upgraded shares of Air Products and Chemicals to a “strong-buy” rating in a report on Tuesday, February 11th. Citigroup decreased their price target on shares of Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating on the stock in a research note on Tuesday, March 25th. Barclays reduced their price objective on Air Products and Chemicals from $365.00 to $355.00 and set an “overweight” rating for the company in a report on Tuesday, April 1st. Bank of America lowered Air Products and Chemicals from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $330.00 to $282.00 in a research note on Tuesday. Finally, Sanford C. Bernstein upgraded Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price target for the company in a research note on Friday, January 31st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $332.18.

Insider Activity

In other Air Products and Chemicals news, VP Walter L. Nelson sold 589 shares of Air Products and Chemicals stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $308.50, for a total transaction of $181,706.50. Following the transaction, the vice president now directly owns 719 shares of the company’s stock, valued at approximately $221,811.50. The trade was a 45.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Francesco Maione sold 2,016 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $306.00, for a total value of $616,896.00. Following the transaction, 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. Over the last 90 days, insiders sold 15,500 shares of company stock valued at $4,842,604. 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.