Franklin Resources Inc. Has $1.02 Billion Position in Air Products and Chemicals, Inc. (NYSE:APD)

Franklin Resources Inc. decreased its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 3.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,528,890 shares of the basic materials company’s stock after selling 126,202 shares during the quarter. Franklin Resources Inc. owned about 1.59% of Air Products and Chemicals worth $1,023,519,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of APD. Vanguard Group Inc. raised its stake in Air Products and Chemicals by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 21,485,176 shares of the basic materials company’s stock worth $6,231,560,000 after buying an additional 207,404 shares during the period. Geode Capital Management LLC increased its stake in Air Products and Chemicals by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,874,347 shares of the basic materials company’s stock worth $1,448,570,000 after purchasing an additional 88,806 shares in the last quarter. Norges Bank bought a new position in Air Products and Chemicals in the fourth quarter valued at approximately $919,721,000. Raymond James Financial Inc. bought a new stake in shares of Air Products and Chemicals during the fourth quarter worth $885,371,000. Finally, Bank of New York Mellon Corp lifted its position in Air Products and Chemicals by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 2,088,449 shares of the basic materials company’s stock valued at $605,734,000 after acquiring an additional 30,888 shares in the last quarter. Institutional investors own 81.66% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. 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. Citigroup lowered their target price on shares of Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. Barclays upgraded shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $315.00 to $365.00 in a research note on Friday, January 24th. BNP Paribas raised Air Products and Chemicals to a “strong-buy” rating in a report on Tuesday, February 11th. Finally, StockNews.com downgraded shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $341.47.

Insiders Place Their Bets

In related news, VP Sean D. Major sold 4,500 shares of the business’s stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Victoria Brifo sold 2,362 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $315.82, for a total transaction of $745,966.84. Following the transaction, the vice president now owns 10,045 shares in the company, valued at $3,172,411.90. This represents a 19.04 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,500 shares of company stock worth $4,842,604. 0.41% of the stock is owned by corporate insiders.

Air Products and Chemicals Stock Performance

Shares of APD stock opened at $292.34 on Monday. The stock has a market capitalization of $65.04 billion, a PE ratio of 16.98, a PEG ratio of 3.07 and a beta of 0.85. The business’s 50 day simple moving average is $311.68 and its 200 day simple moving average is $309.41. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 0.96. Air Products and Chemicals, Inc. has a one year low of $227.53 and a one year high of $341.14.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data on Thursday, February 6th. The basic materials company reported $2.86 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%. As a group, research analysts forecast that Air Products and Chemicals, Inc. will post 12.69 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. Investors of record on Tuesday, April 1st will be paid a dividend of $1.79 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $7.16 annualized dividend and a yield of 2.45%. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 41.58%.

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.