Air Products and Chemicals, Inc. (NYSE:APD) Shares Bought by National Pension Service

Key Points

• The National Pension Service increased its stake in Air Products and Chemicals by 12.3% during Q1, acquiring an additional 58,077 shares, bringing its total ownership to approximately $155.96 million.
• Several analysts have issued positive forecasts for Air Products, with Citigroup and Wells Fargo raising their price targets, while the stock carries a consensus rating of "Moderate Buy" with a target price of $335.07.
• Air Products recently announced a quarterly dividend of $1.79 per share, representing an annualized dividend yield of 2.4%, although its payout ratio stands at a high 103.02%.

National Pension Service boosted its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 12.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 528,830 shares of the basic materials company's stock after buying an additional 58,077 shares during the quarter. National Pension Service owned 0.24% of Air Products and Chemicals worth $155,963,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of APD. Brighton Jones LLC boosted its stake in Air Products and Chemicals by 14.5% during the fourth quarter. Brighton Jones LLC now owns 3,260 shares of the basic materials company's stock worth $945,000 after buying an additional 412 shares during the period. CreativeOne Wealth LLC boosted its stake in Air Products and Chemicals by 16.3% during the fourth quarter. CreativeOne Wealth LLC now owns 1,709 shares of the basic materials company's stock worth $496,000 after buying an additional 240 shares during the period. Rossby Financial LCC purchased a new position in Air Products and Chemicals during the fourth quarter worth about $210,000. Jump Financial LLC purchased a new position in shares of Air Products and Chemicals in the fourth quarter valued at approximately $5,520,000. Finally, United Capital Financial Advisors LLC boosted its stake in shares of Air Products and Chemicals by 0.5% in the fourth quarter. United Capital Financial Advisors LLC now owns 21,219 shares of the basic materials company's stock valued at $6,154,000 after purchasing an additional 108 shares during the period. Hedge funds and other institutional investors own 81.66% of the company's stock.

Air Products and Chemicals Stock Down 0.6%

APD stock traded down $1.64 during midday trading on Friday, reaching $290.53. 1,033,289 shares of the company were exchanged, compared to its average volume of 980,574. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.12 and a current ratio of 1.29. 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 simple moving average is $287.62 and its 200 day simple moving average is $288.13. The company has a market cap of $64.66 billion, a price-to-earnings ratio of 41.80, a price-to-earnings-growth ratio of 6.48 and a beta of 0.81.

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

Air Products and Chemicals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Wednesday, October 1st will be given a $1.79 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $7.16 annualized dividend and a yield of 2.5%. Air Products and Chemicals's dividend payout ratio is 103.02%.

Analysts Set New Price Targets

Several research firms have recently commented on APD. Morgan Stanley began coverage on shares of Air Products and Chemicals in a research note on Thursday, May 29th. They issued an "equal weight" rating and a $290.00 price objective for the company. Royal Bank Of Canada began coverage on shares of Air Products and Chemicals in a research note on Friday, June 13th. They issued an "outperform" rating and a $355.00 price objective for the company. 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 note on Monday, June 30th. Mizuho raised their price objective on shares of Air Products and Chemicals from $310.00 to $325.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Finally, UBS Group raised their price objective on shares of Air Products and Chemicals from $328.00 to $344.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Air Products and Chemicals has a consensus rating of "Moderate Buy" and a consensus price target of $335.07.

Insider Buying and Selling

In related news, VP Victoria Brifo sold 1,359 shares of the company's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $292.38, for a total value of $397,344.42. Following the completion of the sale, the vice president owned 8,686 shares in the company, valued at $2,539,612.68. This represents a 13.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.41% of the stock is currently 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.