Wolverine Asset Management LLC Purchases 1,500 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Key Points

• Wolverine Asset Management LLC increased its stake in Air Products and Chemicals by 60%, acquiring 1,500 additional shares to hold a total of 4,000 shares valued at $1,180,000.
• Numerous large investors, including Wayfinding Financial LLC and Citizens National Bank Trust Department, also recently increased their positions, reflecting strong institutional interest, with institutions now owning 81.66% of the company.
• Air Products and Chemicals has a current average rating of "Moderate Buy" with a consensus target price of $335.07 following several upgrades and downgrades from various analysts.

Wolverine Asset Management LLC grew its position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 60.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,000 shares of the basic materials company's stock after acquiring an additional 1,500 shares during the quarter. Wolverine Asset Management LLC's holdings in Air Products and Chemicals were worth $1,180,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Wayfinding Financial LLC bought a new position in Air Products and Chemicals during the 1st quarter worth $25,000. Cheviot Value Management LLC bought a new position in Air Products and Chemicals during the 1st quarter worth $27,000. Citizens National Bank Trust Department grew its stake in Air Products and Chemicals by 833.3% during the 1st quarter. Citizens National Bank Trust Department now owns 112 shares of the basic materials company's stock worth $33,000 after buying an additional 100 shares during the last quarter. Sunbelt Securities Inc. grew its stake in Air Products and Chemicals by 525.9% during the 4th quarter. Sunbelt Securities Inc. now owns 169 shares of the basic materials company's stock worth $49,000 after buying an additional 142 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new position in Air Products and Chemicals during the 4th quarter worth $50,000. 81.66% of the stock is currently owned by institutional investors.

Air Products and Chemicals Stock Down 1.4%

APD stock traded down $4.12 during trading on Thursday, reaching $290.10. 470,426 shares of the stock were exchanged, compared to its average volume of 1,315,306. The firm has a market cap of $64.56 billion, a P/E ratio of 41.75, a price-to-earnings-growth ratio of 6.46 and a beta of 0.81. Air Products and Chemicals, Inc. has a twelve month low of $243.69 and a twelve month high of $341.14. The firm's 50 day moving average is $287.09 and its 200 day moving average is $288.89. The company has a current ratio of 1.29, a quick ratio of 1.12 and a debt-to-equity ratio of 0.93.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The basic materials company reported $3.09 EPS for the quarter, topping the consensus estimate of $2.99 by $0.10. The firm had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.95 billion. Air Products and Chemicals had a return on equity of 15.11% and a net margin of 12.86%. The company's quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $3.20 earnings per share. As a group, research analysts forecast that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Announces Dividend

The firm 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 of this dividend 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 (DPR) is currently 103.02%.

Analyst Upgrades and Downgrades

APD has been the subject of several recent analyst reports. Wall Street Zen raised Air Products and Chemicals from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Barclays lowered their price objective on Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. UBS Group raised their target price on Air Products and Chemicals from $328.00 to $344.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Morgan Stanley started coverage on Air Products and Chemicals in a report on Thursday, May 29th. They issued an "equal weight" rating and a $290.00 target price on the stock. Finally, Mizuho raised their target price on Air Products and Chemicals from $310.00 to $325.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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 dated Tuesday, August 5th. The stock was sold at an average price of $292.38, for a total value of $397,344.42. Following the sale, the vice president directly owned 8,686 shares of the company's stock, valued at $2,539,612.68. This trade represents a 13.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.41% of the company's stock.

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.