Mystic Asset Management Inc. Increases Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Mystic Asset Management Inc. boosted its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 68.9% during the 4th quarter, Holdings Channel reports. The firm owned 1,806 shares of the basic materials company’s stock after buying an additional 737 shares during the quarter. Mystic Asset Management Inc.’s holdings in Air Products and Chemicals were worth $524,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. SG Americas Securities LLC raised its position in shares of Air Products and Chemicals by 106.3% during the 4th quarter. SG Americas Securities LLC now owns 13,494 shares of the basic materials company’s stock valued at $3,914,000 after buying an additional 6,952 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Air Products and Chemicals by 59.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 374,442 shares of the basic materials company’s stock worth $111,488,000 after purchasing an additional 139,223 shares during the period. Wedge Capital Management L L P NC purchased a new stake in Air Products and Chemicals in the 4th quarter worth about $7,269,000. Diversify Wealth Management LLC raised its position in Air Products and Chemicals by 88.2% in the 4th quarter. Diversify Wealth Management LLC now owns 10,490 shares of the basic materials company’s stock worth $3,074,000 after purchasing an additional 4,916 shares during the period. Finally, World Investment Advisors LLC raised its position in Air Products and Chemicals by 1,205.1% in the 3rd quarter. World Investment Advisors LLC now owns 38,423 shares of the basic materials company’s stock worth $11,440,000 after purchasing an additional 35,479 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Insider Activity

In other news, VP Sean D. Major sold 4,500 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $315.46, for a total transaction of $1,419,570.00. Following the sale, the vice president now directly owns 14,273 shares of the company’s stock, valued at $4,502,560.58. The trade was a 23.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Walter L. Nelson sold 589 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $308.50, for a total transaction of $181,706.50. Following the sale, the vice president now directly owns 719 shares in the company, valued at $221,811.50. This trade represents a 45.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,500 shares of company stock valued at $4,842,604 over the last ninety days. 0.41% of the stock is currently owned by insiders.

Air Products and Chemicals Stock Performance

Shares of APD stock opened at $291.56 on Wednesday. The business’s fifty day simple moving average is $312.89 and its 200-day simple moving average is $308.34. The company has a market cap of $64.87 billion, a PE ratio of 16.93, a PEG ratio of 3.07 and a beta of 0.85. 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 12-month low of $227.53 and a 12-month high of $341.14.

Air Products and Chemicals (NYSE:APD) last issued its quarterly 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%. Analysts expect that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Increases Dividend

The business 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. The ex-dividend date of this dividend is Tuesday, April 1st. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.46%. Air Products and Chemicals’s payout ratio is 41.58%.

Analyst Ratings Changes

APD has been the topic of a number of recent analyst reports. BNP Paribas raised shares of Air Products and Chemicals to a “strong-buy” rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $320.00 price objective (down from $345.00) on shares of Air Products and Chemicals in a research report on Friday, February 7th. StockNews.com lowered shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. BMO Capital Markets downgraded shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. Finally, Bank of America downgraded shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price objective for the company. in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $342.65.

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.