Air Products and Chemicals, Inc. (NYSE:APD) Shares Bought by Forsta AP Fonden

Key Points

• Forsta AP Fonden increased its stake in Air Products and Chemicals by 3.6%, owning 46,600 shares valued at $13.74 million after acquiring an additional 1,600 shares in the first quarter.
• Air Products reported a quarterly EPS of $3.09, exceeding expectations, with a revenue of $3.02 billion, representing a 1.2% increase from the previous year.
• The company has announced a quarterly dividend of $1.79 per share, with a payout ratio currently at 103.02% and an annualized dividend yield of 2.5%.

Forsta AP Fonden increased its position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 3.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,600 shares of the basic materials company's stock after acquiring an additional 1,600 shares during the period. Forsta AP Fonden's holdings in Air Products and Chemicals were worth $13,743,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in APD. Dodge & Cox raised its holdings in shares of Air Products and Chemicals by 1.0% during the fourth quarter. Dodge & Cox now owns 6,663,154 shares of the basic materials company's stock valued at $1,932,581,000 after purchasing an additional 64,960 shares during the period. Bank of America Corp DE lifted its position in Air Products and Chemicals by 129.4% during the 4th quarter. Bank of America Corp DE now owns 5,429,147 shares of the basic materials company's stock valued at $1,574,670,000 after acquiring an additional 3,062,157 shares during the period. Mantle Ridge LP purchased a new position in Air Products and Chemicals during the 4th quarter valued at about $1,191,344,000. Northern Trust Corp grew its holdings in shares of Air Products and Chemicals by 4.6% during the fourth quarter. Northern Trust Corp now owns 3,583,156 shares of the basic materials company's stock valued at $1,039,259,000 after buying an additional 156,419 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in shares of Air Products and Chemicals by 1.5% during the 4th quarter. Royal Bank of Canada now owns 2,397,210 shares of the basic materials company's stock valued at $695,287,000 after buying an additional 34,676 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company's stock.

Air Products and Chemicals Price Performance

Shares of Air Products and Chemicals stock traded up $3.05 on Wednesday, hitting $292.32. The company's stock had a trading volume of 366,029 shares, compared to its average volume of 1,317,329. Air Products and Chemicals, Inc. has a 52-week low of $243.69 and a 52-week high of $341.14. The company has a quick ratio of 1.12, a current ratio of 1.29 and a debt-to-equity ratio of 0.93. The firm has a fifty day moving average price of $286.82 and a 200-day moving average price of $288.85. The company has a market capitalization of $65.06 billion, a P/E ratio of 42.03, a price-to-earnings-growth ratio of 6.34 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its earnings results on Thursday, July 31st. The basic materials company reported $3.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.99 by $0.10. The company had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.95 billion. Air Products and Chemicals had a net margin of 12.86% and a return on equity of 15.11%. The firm's quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $3.20 EPS. On average, equities research analysts expect that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Wednesday, October 1st will be paid a dividend of $1.79 per share. The ex-dividend date is Wednesday, October 1st. This represents a $7.16 annualized dividend and a yield of 2.4%. Air Products and Chemicals's dividend payout ratio (DPR) is 103.02%.

Analysts Set New Price Targets

Several analysts have recently commented on APD shares. Citigroup raised their price objective on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Wall Street Zen raised shares of Air Products and Chemicals from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. UBS Group lifted their price target on shares of Air Products and Chemicals from $328.00 to $344.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Royal Bank Of Canada assumed coverage on shares of Air Products and Chemicals in a research report on Friday, June 13th. They issued an "outperform" rating and a $355.00 price objective on the stock. Finally, Wells Fargo & Company increased their price objective on shares of Air Products and Chemicals from $320.00 to $345.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. One analyst has rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $335.07.

Insider Transactions at Air Products and Chemicals

In related news, VP Victoria Brifo sold 1,359 shares of the firm's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $292.38, for a total transaction of $397,344.42. Following the transaction, the vice president directly owned 8,686 shares in the company, valued at $2,539,612.68. This trade represents a 13.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.41% of the stock is owned by company insiders.

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.