Raymond James Financial Inc. Makes New $885.37 Million Investment in Air Products and Chemicals, Inc. (NYSE:APD)

Raymond James Financial Inc. acquired a new position in shares of Air Products and Chemicals, Inc. (NYSE:APD) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 3,052,582 shares of the basic materials company’s stock, valued at approximately $885,371,000.

Other hedge funds have also recently bought and sold shares of the company. Truvestments Capital LLC acquired a new position in Air Products and Chemicals during the third quarter worth $25,000. Raleigh Capital Management Inc. increased its stake in shares of Air Products and Chemicals by 69.4% in the fourth 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 shares of Air Products and Chemicals in the fourth quarter valued at $30,000. Financial Life Planners acquired a new stake in shares of Air Products and Chemicals in the fourth quarter valued at $31,000. Finally, WR Wealth Planners LLC increased its stake in shares of Air Products and Chemicals by 40.3% in the fourth quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company’s stock valued at $31,000 after buying an additional 31 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Sean D. Major sold 4,500 shares of Air Products and Chemicals 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 transaction, the vice president now owns 14,273 shares in the company, valued at $4,502,560.58. The trade was a 23.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Wilbur Mok sold 1,300 shares of Air Products and Chemicals stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $315.88, for a total value of $410,644.00. Following the transaction, the insider now owns 3,193 shares in the company, valued at $1,008,604.84. This trade represents a 28.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,911 shares of company stock worth $4,660,897 in the last 90 days. Corporate insiders own 0.41% of the company’s stock.

Air Products and Chemicals Price Performance

Shares of APD opened at $311.70 on Thursday. 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, Inc. has a 1 year low of $227.53 and a 1 year high of $341.14. The stock has a market cap of $69.34 billion, a P/E ratio of 18.10, a price-to-earnings-growth ratio of 3.07 and a beta of 0.85. The stock’s 50-day moving average price is $310.83 and its two-hundred day moving average price is $306.65.

Air Products and Chemicals (NYSE:APD) last issued its earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.27). Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. On average, equities analysts predict that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Tuesday, April 1st. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s payout ratio is 41.58%.

Analyst Upgrades and Downgrades

APD has been the subject of a number of research reports. JPMorgan Chase & Co. restated a “neutral” rating and issued a $320.00 target price (down from $345.00) on shares of Air Products and Chemicals in a research note on Friday, February 7th. Citigroup raised their target price on Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a research note on Monday, November 11th. StockNews.com lowered Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. UBS Group raised their target price on Air Products and Chemicals from $375.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Finally, Sanford C. Bernstein upgraded 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 report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Air Products and Chemicals presently has an average rating of “Moderate Buy” and a consensus price target of $343.53.

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.