Van ECK Associates Corp Lowers Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Van ECK Associates Corp cut its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 4.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 733,912 shares of the basic materials company’s stock after selling 30,577 shares during the quarter. Van ECK Associates Corp owned about 0.33% of Air Products and Chemicals worth $212,864,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in APD. SG Americas Securities LLC lifted its position in Air Products and Chemicals by 106.3% during the fourth quarter. SG Americas Securities LLC now owns 13,494 shares of the basic materials company’s stock valued at $3,914,000 after acquiring an additional 6,952 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Air Products and Chemicals by 59.2% during the fourth 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 in the last quarter. Wedge Capital Management L L P NC purchased a new stake in shares of Air Products and Chemicals during the 4th quarter valued at $7,269,000. Forsta AP Fonden boosted its position in shares of Air Products and Chemicals by 13.4% in the 3rd quarter. Forsta AP Fonden now owns 45,700 shares of the basic materials company’s stock worth $13,607,000 after purchasing an additional 5,400 shares in the last quarter. Finally, Diversify Wealth Management LLC grew its stake in Air Products and Chemicals by 88.2% during the 4th quarter. Diversify Wealth Management LLC now owns 10,490 shares of the basic materials company’s stock worth $3,074,000 after buying an additional 4,916 shares during the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Performance

APD opened at $310.35 on Thursday. The firm has a fifty day moving average price of $308.90 and a 200 day moving average price of $302.60. Air Products and Chemicals, Inc. has a 1 year low of $216.30 and a 1 year high of $341.14. The stock has a market cap of $69.02 billion, a P/E ratio of 18.02, a P/E/G ratio of 3.47 and a beta of 0.85. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 1.34.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings data on Thursday, February 6th. The basic materials company reported $2.86 earnings per share 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%. Equities research analysts anticipate that Air Products and Chemicals, Inc. will post 12.77 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 2.31%. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date of this dividend is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio is presently 41.11%.

Insider Transactions at Air Products and Chemicals

In related news, insider Francesco Maione sold 2,016 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $306.00, for a total transaction of $616,896.00. Following the completion of the transaction, the insider now owns 3,834 shares in the company, valued at $1,173,204. This 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 the SEC website. Also, CFO Melissa N. Schaeffer sold 3,233 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $307.32, for a total transaction of $993,565.56. Following the completion of the transaction, the chief financial officer now directly owns 10,680 shares in the company, valued at $3,282,177.60. This represents a 23.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,749 shares of company stock valued at $3,030,032 in the last three months. 0.41% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on APD. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $320.00 price target (down previously from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. UBS Group lifted their target price on shares of 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. Barclays upgraded shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $315.00 to $365.00 in a research note on Friday, January 24th. StockNews.com downgraded shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Finally, Bank of America downgraded Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 target price on the stock. in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Air Products and Chemicals presently has an average rating of “Moderate Buy” and a consensus target price of $339.94.

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.