Truist Financial Corp Sells 3,486 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Truist Financial Corp lessened its position in Air Products and Chemicals, Inc. (NYSE:APD) by 3.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 108,197 shares of the basic materials company’s stock after selling 3,486 shares during the quarter. Truist Financial Corp’s holdings in Air Products and Chemicals were worth $31,382,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Silver Oak Securities Incorporated lifted its holdings in Air Products and Chemicals by 1.1% during the 4th quarter. Silver Oak Securities Incorporated now owns 3,074 shares of the basic materials company’s stock valued at $888,000 after buying an additional 32 shares in the last quarter. Bank of Stockton lifted its holdings in Air Products and Chemicals by 1.9% during the 3rd quarter. Bank of Stockton now owns 1,813 shares of the basic materials company’s stock valued at $540,000 after buying an additional 34 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in Air Products and Chemicals by 22.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 203 shares of the basic materials company’s stock valued at $60,000 after buying an additional 37 shares in the last quarter. Chesapeake Wealth Management lifted its holdings in Air Products and Chemicals by 1.7% during the 3rd quarter. Chesapeake Wealth Management now owns 2,189 shares of the basic materials company’s stock valued at $652,000 after buying an additional 37 shares in the last quarter. Finally, Keyes Stange & Wooten Wealth Management LLC lifted its holdings in Air Products and Chemicals by 1.5% during the 3rd quarter. Keyes Stange & Wooten Wealth Management LLC now owns 2,560 shares of the basic materials company’s stock valued at $762,000 after buying an additional 37 shares in the last quarter. Institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

APD has been the subject of a number of research analyst reports. BMO Capital Markets lowered shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. Redburn Atlantic upgraded shares of Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price objective for the company in a report on Friday, October 25th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $320.00 price objective (down previously from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. Bank of America lowered shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price target for the company. in a report on Monday, January 27th. Finally, Wells Fargo & Company boosted their price target on shares of Air Products and Chemicals from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Air Products and Chemicals presently has a consensus rating of “Moderate Buy” and an average target price of $339.94.

Insider Buying and Selling at Air Products and Chemicals

In other Air Products and Chemicals news, CFO Melissa N. Schaeffer sold 3,233 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $307.32, for a total transaction of $993,565.56. Following the transaction, the chief financial officer now owns 10,680 shares in the company, valued at approximately $3,282,177.60. This represents a 23.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Sean D. Major sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $315.46, for a total transaction of $1,419,570.00. Following the transaction, the vice president now owns 14,273 shares in the company, valued at $4,502,560.58. The trade was a 23.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,749 shares of company stock worth $3,030,032. 0.41% of the stock is owned by corporate insiders.

Air Products and Chemicals Stock Up 0.3 %

Shares of Air Products and Chemicals stock opened at $316.97 on Wednesday. The firm’s 50 day moving average price is $308.36 and its 200-day moving average price is $303.85. The company has a quick ratio of 1.34, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. Air Products and Chemicals, Inc. has a 52-week low of $225.26 and a 52-week high of $341.14. The company has a market cap of $70.49 billion, a P/E ratio of 18.41, a PEG ratio of 3.47 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 predict that Air Products and Chemicals, Inc. will post 12.77 EPS for the current fiscal year.

Air Products and Chemicals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $1.79 per share. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $7.16 dividend on an annualized basis and a yield of 2.26%. Air Products and Chemicals’s dividend payout ratio is presently 41.11%.

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.