OLD National Bancorp IN Decreases Stake in Air Products and Chemicals, Inc. (NYSE:APD)

OLD National Bancorp IN reduced its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 23.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,992 shares of the basic materials company’s stock after selling 4,049 shares during the period. OLD National Bancorp IN’s holdings in Air Products and Chemicals were worth $3,557,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of APD. Morgan Stanley raised its stake in Air Products and Chemicals by 4.6% during the third quarter. Morgan Stanley now owns 5,302,455 shares of the basic materials company’s stock worth $1,502,717,000 after purchasing an additional 235,037 shares during the period. Northern Trust Corp raised its stake in shares of Air Products and Chemicals by 1.0% in the 3rd quarter. Northern Trust Corp now owns 3,829,919 shares of the basic materials company’s stock valued at $1,085,399,000 after acquiring an additional 39,215 shares during the period. Raymond James & Associates raised its stake in shares of Air Products and Chemicals by 3.6% in the 4th quarter. Raymond James & Associates now owns 1,931,619 shares of the basic materials company’s stock valued at $528,877,000 after acquiring an additional 66,906 shares during the period. FMR LLC grew its holdings in shares of Air Products and Chemicals by 1.3% in the third quarter. FMR LLC now owns 1,715,055 shares of the basic materials company’s stock valued at $486,047,000 after purchasing an additional 21,422 shares in the last quarter. Finally, Stifel Financial Corp grew its holdings in shares of Air Products and Chemicals by 1.5% in the third quarter. Stifel Financial Corp now owns 1,339,666 shares of the basic materials company’s stock valued at $379,680,000 after purchasing an additional 20,113 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Up 1.2 %

Shares of NYSE APD opened at $234.37 on Tuesday. The company has a quick ratio of 1.58, a current ratio of 1.81 and a debt-to-equity ratio of 0.74. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $307.71. The firm has a 50-day moving average price of $236.12 and a 200 day moving average price of $256.79. The stock has a market capitalization of $52.10 billion, a price-to-earnings ratio of 22.36, a price-to-earnings-growth ratio of 2.55 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data on Monday, February 5th. The basic materials company reported $2.82 EPS for the quarter, missing the consensus estimate of $3.00 by ($0.18). Air Products and Chemicals had a net margin of 18.82% and a return on equity of 16.84%. The company had revenue of $3 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same quarter last year, the business earned $2.64 EPS. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. Equities research analysts anticipate that Air Products and Chemicals, Inc. will post 12.38 EPS for the current fiscal year.

Air Products and Chemicals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, April 1st will be given a dividend of $1.77 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $7.08 dividend on an annualized basis and a yield of 3.02%. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.75. Air Products and Chemicals’s payout ratio is presently 67.56%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. BMO Capital Markets dropped their price objective on shares of Air Products and Chemicals from $307.00 to $250.00 and set an “outperform” rating for the company in a report on Tuesday, February 6th. Argus cut shares of Air Products and Chemicals from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Citigroup boosted their price objective on shares of Air Products and Chemicals from $260.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Wells Fargo & Company downgraded shares of Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a research report on Monday, February 5th. Finally, Wolfe Research began coverage on shares of Air Products and Chemicals in a research report on Friday, March 1st. They set an “outperform” rating and a $279.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $276.36.

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.