ProVise Management Group LLC Cuts Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

ProVise Management Group LLC trimmed its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 5.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 18,144 shares of the basic materials company’s stock after selling 1,079 shares during the period. ProVise Management Group LLC’s holdings in Air Products and Chemicals were worth $5,262,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Geode Capital Management LLC raised its stake in shares of 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 buying an additional 88,806 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Air Products and Chemicals during the 4th quarter worth approximately $885,371,000. Bank of New York Mellon Corp raised its stake in shares of Air Products and Chemicals by 1.5% during the 4th quarter. Bank of New York Mellon Corp now owns 2,088,449 shares of the basic materials company’s stock worth $605,734,000 after buying an additional 30,888 shares in the last quarter. National Bank of Canada FI raised its stake in shares of Air Products and Chemicals by 3.9% during the 3rd quarter. National Bank of Canada FI now owns 1,867,290 shares of the basic materials company’s stock worth $555,967,000 after buying an additional 70,759 shares in the last quarter. Finally, Stifel Financial Corp raised its stake in shares of Air Products and Chemicals by 1.2% during the 3rd quarter. Stifel Financial Corp now owns 1,633,381 shares of the basic materials company’s stock worth $486,343,000 after buying an additional 19,209 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Air Products and Chemicals

In related news, insider Francesco Maione sold 2,016 shares of Air Products and Chemicals 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 transaction, the insider now owns 3,834 shares in the company, valued at approximately $1,173,204. This trade represents a 34.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sean D. Major sold 4,500 shares of Air Products and Chemicals stock in a transaction on Friday, February 7th. The shares were 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. The trade was a 23.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,500 shares of company stock worth $4,842,604 over the last quarter. 0.41% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on APD. BNP Paribas raised Air Products and Chemicals to a “strong-buy” rating in a research note on Tuesday, February 11th. Bank of America downgraded Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price objective for the company. in a research note on Monday, January 27th. Wells Fargo & Company raised their price objective on Air Products and Chemicals from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. StockNews.com downgraded Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Finally, BMO Capital Markets downgraded Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Air Products and Chemicals currently has an average rating of “Moderate Buy” and an average price target of $342.65.

Air Products and Chemicals Price Performance

APD stock opened at $291.56 on Wednesday. Air Products and Chemicals, Inc. has a 52-week low of $227.53 and a 52-week high of $341.14. The stock’s fifty day simple moving average is $312.89 and its 200-day simple moving average is $308.34. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $64.87 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 3.07 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data 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 return on equity of 15.78% and a net margin of 31.88%. Equities research analysts expect that Air Products and Chemicals, Inc. will post 12.69 EPS for the current 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 is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date is Tuesday, April 1st. This represents a $7.16 annualized dividend and a dividend yield of 2.46%. Air Products and Chemicals’s dividend payout ratio (DPR) is 41.58%.

About Air Products and Chemicals

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.