WealthPlan Investment Management LLC Sells 720 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

WealthPlan Investment Management LLC reduced its position in Air Products and Chemicals, Inc. (NYSE:APD) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,397 shares of the basic materials company’s stock after selling 720 shares during the period. WealthPlan Investment Management LLC’s holdings in Air Products and Chemicals were worth $8,526,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Pathway Financial Advisers LLC raised its position in Air Products and Chemicals by 29,954.1% during the third quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company’s stock valued at $861,722,000 after purchasing an additional 2,884,581 shares during the period. ING Groep NV raised its position in Air Products and Chemicals by 240.7% during the third quarter. ING Groep NV now owns 1,023,433 shares of the basic materials company’s stock valued at $304,717,000 after purchasing an additional 723,019 shares during the period. Mizuho Markets Americas LLC raised its position in Air Products and Chemicals by 318.7% during the third quarter. Mizuho Markets Americas LLC now owns 948,723 shares of the basic materials company’s stock valued at $282,473,000 after purchasing an additional 722,132 shares during the period. Van ECK Associates Corp raised its position in Air Products and Chemicals by 1,685.4% during the third quarter. Van ECK Associates Corp now owns 764,489 shares of the basic materials company’s stock valued at $249,698,000 after purchasing an additional 721,671 shares during the period. Finally, International Assets Investment Management LLC raised its position in Air Products and Chemicals by 29,957.6% during the third quarter. International Assets Investment Management LLC now owns 718,075 shares of the basic materials company’s stock valued at $2,138,000,000 after purchasing an additional 715,686 shares during the period. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

APD has been the topic of a number of recent research reports. Barclays upgraded Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $315.00 to $365.00 in a research report on Friday, January 24th. Wells Fargo & Company increased their price target on Air Products and Chemicals from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Bank of America downgraded Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price target on the stock. in a report on Monday, January 27th. Sanford C. Bernstein upgraded Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price target on the stock in a report on Friday, January 31st. Finally, Redburn Atlantic upgraded Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price target on the stock in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $339.94.

Air Products and Chemicals Stock Up 0.5 %

Shares of NYSE APD opened at $316.74 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.34 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $70.47 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 3.47 and a beta of 0.85. The stock’s fifty day simple moving average is $308.42 and its two-hundred day simple moving average is $302.74. Air Products and Chemicals, Inc. has a 12-month low of $220.26 and a 12-month high of $341.14.

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 (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%. As a group, analysts expect that Air Products and Chemicals, Inc. will post 12.77 EPS for the current fiscal year.

Air Products and Chemicals Increases Dividend

The firm 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. This represents a $7.16 annualized dividend and a dividend yield of 2.26%. 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. Air Products and Chemicals’s dividend payout ratio is currently 41.58%.

Insider Activity

In related news, VP Sean D. Major sold 4,500 shares of the firm’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 completion of the transaction, the vice president now owns 14,273 shares in the company, valued at $4,502,560.58. This trade represents a 23.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Francesco Maione sold 2,016 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $306.00, for a total value of $616,896.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. In the last quarter, insiders sold 9,749 shares of company stock worth $3,030,032. Insiders own 0.41% of the company’s stock.

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.