Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Chesapeake Capital Corp IL

Chesapeake Capital Corp IL trimmed its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 24.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,115 shares of the basic materials company’s stock after selling 1,024 shares during the period. Air Products and Chemicals accounts for about 0.9% of Chesapeake Capital Corp IL’s holdings, making the stock its 21st biggest holding. Chesapeake Capital Corp IL’s holdings in Air Products and Chemicals were worth $903,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Thrivent Financial for Lutherans grew its holdings in Air Products and Chemicals by 3.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 32,297 shares of the basic materials company’s stock valued at $9,616,000 after buying an additional 1,177 shares in the last quarter. Drive Wealth Management LLC acquired a new stake in Air Products and Chemicals during the third quarter worth $207,000. Meeder Advisory Services Inc. raised its holdings in Air Products and Chemicals by 1.4% in the 3rd quarter. Meeder Advisory Services Inc. now owns 3,983 shares of the basic materials company’s stock valued at $1,186,000 after buying an additional 55 shares during the period. Pathstone Holdings LLC increased its position in shares of Air Products and Chemicals by 5.9% during the third quarter. Pathstone Holdings LLC now owns 36,129 shares of the basic materials company’s stock valued at $10,757,000 after acquiring an additional 2,007 shares during the last quarter. Finally, Chesapeake Wealth Management raised its stake in shares of Air Products and Chemicals by 1.7% in the 3rd quarter. Chesapeake Wealth Management now owns 2,189 shares of the basic materials company’s stock valued at $652,000 after acquiring an additional 37 shares during the period. 81.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. StockNews.com lowered Air Products and Chemicals from a “hold” rating to a “sell” 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 report on Friday, January 31st. BMO Capital Markets cut Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. UBS Group lowered their target price on shares of Air Products and Chemicals from $395.00 to $370.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Finally, Wells Fargo & Company raised their price target on Air Products and Chemicals from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. One 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’s stock. According to MarketBeat, Air Products and Chemicals has an average rating of “Moderate Buy” and a consensus target price of $342.65.

Insider Transactions at Air Products and Chemicals

In other news, insider Wilbur Mok sold 1,300 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $315.88, for a total value of $410,644.00. Following the completion of the sale, the insider now directly owns 3,193 shares of the company’s stock, valued at $1,008,604.84. This trade represents a 28.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Sean D. Major sold 4,500 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $315.46, for a total value of $1,419,570.00. Following the transaction, 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. Insiders have sold a total of 15,500 shares of company stock worth $4,842,604 over the last ninety days. 0.41% of the stock is currently owned by company insiders.

Air Products and Chemicals Stock Down 1.4 %

APD stock opened at $291.56 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 0.96. The company has a market cap of $64.87 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth 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 company has a fifty day moving average price of $312.89 and a 200 day moving average price of $308.34.

Air Products and Chemicals (NYSE:APD) last announced its earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share 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%. Sell-side analysts expect that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be issued a $1.79 dividend. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date is Tuesday, April 1st. This represents a $7.16 annualized dividend and a dividend yield of 2.46%. Air Products and Chemicals’s payout ratio is presently 41.58%.

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.