Air Products and Chemicals, Inc. (NYSE:APD) Shares Purchased by Mengis Capital Management Inc.

Mengis Capital Management Inc. lifted its position in Air Products and Chemicals, Inc. (NYSE:APD) by 21.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,788 shares of the basic materials company’s stock after acquiring an additional 500 shares during the period. Mengis Capital Management Inc.’s holdings in Air Products and Chemicals were worth $809,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in APD. ING Groep NV boosted its stake in shares of Air Products and Chemicals by 240.7% in the third quarter. ING Groep NV now owns 1,023,433 shares of the basic materials company’s stock worth $304,717,000 after acquiring an additional 723,019 shares during the last quarter. Mizuho Markets Americas LLC boosted its stake in shares of Air Products and Chemicals by 318.7% in the third quarter. Mizuho Markets Americas LLC now owns 948,723 shares of the basic materials company’s stock worth $282,473,000 after acquiring an additional 722,132 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Air Products and Chemicals by 1,685.4% in the third quarter. Van ECK Associates Corp now owns 764,489 shares of the basic materials company’s stock worth $249,698,000 after acquiring an additional 721,671 shares during the last quarter. Sachem Head Capital Management LP acquired a new stake in shares of Air Products and Chemicals in the third quarter worth approximately $163,013,000. Finally, TOMS Capital Investment Management LP acquired a new stake in shares of Air Products and Chemicals in the third quarter worth approximately $159,886,000. 81.66% of the stock is owned by institutional investors and hedge funds.

Air Products and Chemicals Price Performance

APD stock opened at $309.17 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $68.78 billion, a PE ratio of 17.95, a P/E/G ratio of 3.07 and a beta of 0.85. Air Products and Chemicals, Inc. has a 12-month low of $227.53 and a 12-month high of $341.14. The business’s fifty day moving average price is $308.55 and its 200 day moving average price is $305.06.

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

Air Products and Chemicals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be issued a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Tuesday, April 1st. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s payout ratio is currently 41.11%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. UBS Group boosted their price objective on Air Products and Chemicals from $375.00 to $385.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Wells Fargo & Company boosted their price objective on Air Products and Chemicals from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Sanford C. Bernstein raised Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price objective on the stock in a research note on Friday, January 31st. BNP Paribas raised Air Products and Chemicals to a “strong-buy” rating in a research note on Tuesday, February 11th. Finally, StockNews.com lowered Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $339.94.

Insider Activity at Air Products and Chemicals

In other Air Products and Chemicals news, insider Francesco Maione sold 2,016 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $306.00, for a total value of $616,896.00. Following the sale, the insider now owns 3,834 shares of the company’s stock, valued at $1,173,204. This trade represents a 34.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Sean D. Major sold 4,500 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $315.46, for a total value of $1,419,570.00. Following the completion of the sale, the vice president now directly owns 14,273 shares in the company, valued at $4,502,560.58. This represents a 23.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,911 shares of company stock worth $4,660,897. 0.41% of the stock is currently owned by company insiders.

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.