Westpac Banking Corp Raises Position in Air Products and Chemicals, Inc. (NYSE:APD)

Westpac Banking Corp lifted its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 132.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,369 shares of the basic materials company’s stock after purchasing an additional 780 shares during the quarter. Westpac Banking Corp’s holdings in Air Products and Chemicals were worth $397,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Generali Investments Management Co LLC acquired a new stake in Air Products and Chemicals in the fourth quarter worth about $26,000. Raleigh Capital Management Inc. boosted its stake 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 worth $30,000 after purchasing an additional 43 shares in the last quarter. Sierra Ocean LLC purchased a new stake in Air Products and Chemicals during the 4th quarter worth approximately $30,000. Financial Life Planners acquired a new position in Air Products and Chemicals during the 4th quarter valued at approximately $31,000. Finally, WR Wealth Planners LLC raised its holdings in shares of Air Products and Chemicals by 40.3% in the fourth quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company’s stock worth $31,000 after buying an additional 31 shares during the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Air Products and Chemicals news, CFO Melissa N. Schaeffer sold 3,233 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $307.32, for a total value of $993,565.56. Following the transaction, the chief financial officer now owns 10,680 shares in the company, valued at approximately $3,282,177.60. This trade represents a 23.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Sean D. Major sold 4,500 shares of the 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 $4,502,560.58. This trade represents a 23.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,500 shares of company stock worth $4,842,604. Insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on APD. UBS Group dropped 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 report on Friday, March 14th. Citigroup cut their price objective on Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. Wells Fargo & Company lifted their target price on Air Products and Chemicals from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. StockNews.com lowered shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. Finally, Barclays dropped their price objective on shares of Air Products and Chemicals from $365.00 to $355.00 and set an “overweight” rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given 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 price target of $340.88.

Air Products and Chemicals Stock Down 7.0 %

Shares of APD opened at $263.35 on Friday. The firm has a market cap of $58.59 billion, a P/E ratio of 15.29, a PEG ratio of 3.07 and a beta of 0.88. Air Products and Chemicals, Inc. has a 12 month low of $227.53 and a 12 month high of $341.14. The stock’s 50 day moving average is $308.14 and its two-hundred day moving average is $309.11. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share (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 predict 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 paid a $1.79 dividend. The ex-dividend date of this dividend 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 dividend on an annualized basis and a yield of 2.72%. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 41.58%.

Air Products and Chemicals 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.