Peapack Gladstone Financial Corp Boosts Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Peapack Gladstone Financial Corp increased its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 1.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,282 shares of the basic materials company’s stock after buying an additional 1,265 shares during the period. Peapack Gladstone Financial Corp’s holdings in Air Products and Chemicals were worth $36,917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Air Products and Chemicals Stock Down 7.0 %

Shares of NYSE:APD opened at $263.35 on Friday. The company has a market capitalization of $58.59 billion, a price-to-earnings 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 business has a 50-day moving average price of $308.14 and a 200 day moving average price of $309.24. 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 announced 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%. Sell-side analysts expect that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be given a dividend of $1.79 per share. 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 2.72%. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 41.58%.

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 value of $181,706.50. Following the completion of the transaction, the vice president now directly owns 719 shares of the company’s stock, valued at $221,811.50. The trade was a 45.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Sean D. Major sold 4,500 shares of the business’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 sale, the vice president now owns 14,273 shares in the company, 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. Over the last ninety days, insiders sold 15,500 shares of company stock valued at $4,842,604. 0.41% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on APD shares. Citigroup lowered their price target on 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. 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. BNP Paribas upgraded shares of Air Products and Chemicals to a “strong-buy” rating in a research report on Tuesday, February 11th. Sanford C. Bernstein upgraded shares of Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price target on the stock in a research report on Friday, January 31st. Finally, Wells Fargo & Company increased their price objective 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Air Products and Chemicals has an average rating of “Moderate Buy” and a consensus price target 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.