Air Products and Chemicals, Inc. (NYSE:APD) Shares Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp lifted its position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 227.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 85,091 shares of the basic materials company's stock after acquiring an additional 59,123 shares during the quarter. Mackenzie Financial Corp's holdings in Air Products and Chemicals were worth $24,680,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dakota Wealth Management purchased a new position in shares of Air Products and Chemicals during the 4th quarter worth approximately $215,000. SG Americas Securities LLC grew its holdings in Air Products and Chemicals by 106.3% during the fourth quarter. SG Americas Securities LLC now owns 13,494 shares of the basic materials company's stock worth $3,914,000 after acquiring an additional 6,952 shares during the period. Mutual Advisors LLC raised its position in Air Products and Chemicals by 4.3% in the fourth quarter. Mutual Advisors LLC now owns 3,518 shares of the basic materials company's stock worth $1,098,000 after acquiring an additional 145 shares in the last quarter. Brighton Jones LLC raised its position in Air Products and Chemicals by 14.5% in the fourth quarter. Brighton Jones LLC now owns 3,260 shares of the basic materials company's stock worth $945,000 after acquiring an additional 412 shares in the last quarter. Finally, Cornerstone Wealth Management LLC lifted its holdings in Air Products and Chemicals by 3.6% in the fourth quarter. Cornerstone Wealth Management LLC now owns 2,558 shares of the basic materials company's stock valued at $742,000 after acquiring an additional 89 shares during the period. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Walter L. Nelson sold 589 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $308.50, for a total transaction of $181,706.50. Following the completion of the sale, the vice president now directly owns 719 shares in the company, valued at $221,811.50. This represents a 45.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.41% of the company's stock.

Air Products and Chemicals Trading Up 1.5%

Shares of APD traded up $4.05 on Friday, hitting $277.22. 640,226 shares of the stock traded hands, compared to its average volume of 1,442,916. Air Products and Chemicals, Inc. has a 1 year low of $243.69 and a 1 year high of $341.14. The stock's 50 day moving average is $272.24 and its two-hundred day moving average is $297.77. The firm has a market capitalization of $61.69 billion, a P/E ratio of 16.08, a P/E/G ratio of 3.07 and a beta of 0.88. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported $2.69 earnings per share for the quarter, missing analysts' consensus estimates of $2.83 by ($0.14). Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. The business had revenue of $2.92 billion for the quarter, compared to analysts' expectations of $2.94 billion. During the same period in the prior year, the company earned $2.85 EPS. The company's revenue for the quarter was down .5% compared to the same quarter last year. As a group, sell-side analysts predict that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Tuesday, July 1st will be issued a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 2.58%. The ex-dividend date is Tuesday, July 1st. Air Products and Chemicals's dividend payout ratio (DPR) is 104.07%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on APD shares. Morgan Stanley assumed coverage on shares of Air Products and Chemicals in a research note on Thursday. They set an "equal weight" rating and a $290.00 price target on the stock. BNP Paribas raised shares of Air Products and Chemicals to a "strong-buy" rating in a report on Tuesday, February 11th. UBS Group reduced their price target on shares of Air Products and Chemicals from $335.00 to $324.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. 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 report on Tuesday, March 25th. Finally, Barclays reduced their price objective on Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $331.00.

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.