Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Angeles Investment Advisors LLC

Angeles Investment Advisors LLC cut its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 3.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,190 shares of the basic materials company’s stock after selling 83 shares during the period. Angeles Investment Advisors LLC’s holdings in Air Products and Chemicals were worth $635,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in APD. Raymond James Financial Inc. purchased a new position in shares of Air Products and Chemicals during the fourth quarter worth about $885,371,000. Sachem Head Capital Management LP purchased a new position in shares of Air Products and Chemicals during the third quarter worth about $163,013,000. TOMS Capital Investment Management LP purchased a new position in shares of Air Products and Chemicals during the third quarter worth about $159,886,000. Proficio Capital Partners LLC purchased a new position in shares of Air Products and Chemicals during the fourth quarter worth about $71,307,000. Finally, Bank of Montreal Can grew its holdings in shares of Air Products and Chemicals by 25.2% during the third quarter. Bank of Montreal Can now owns 1,165,733 shares of the basic materials company’s stock worth $350,139,000 after purchasing an additional 234,322 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Price Performance

Shares of APD opened at $291.35 on Monday. Air Products and Chemicals, Inc. has a twelve month low of $227.53 and a twelve month high of $341.14. The stock’s 50 day moving average is $313.19 and its two-hundred day moving average is $308.69. The firm has a market capitalization of $64.82 billion, a PE ratio of 16.92, a P/E/G ratio of 3.07 and a beta of 0.85. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71.

Air Products and Chemicals (NYSE:APD) last announced 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 net margin of 31.88% and a return on equity of 15.78%. Research analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be given a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.46%. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 41.58%.

Insider Activity

In other news, insider Wilbur Mok sold 1,300 shares of Air Products and Chemicals stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $315.88, for a total transaction of $410,644.00. Following the completion of the sale, the insider now directly owns 3,193 shares in the company, valued at approximately $1,008,604.84. This trade represents a 28.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Walter L. Nelson sold 589 shares of Air Products and Chemicals stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $308.50, for a total transaction of $181,706.50. Following the sale, the vice president now owns 719 shares of the company’s stock, valued at approximately $221,811.50. The trade was a 45.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 15,500 shares of company stock worth $4,842,604. Company insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on APD shares. Bank of America lowered Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price objective on the stock. in a report on Monday, January 27th. Barclays raised Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $315.00 to $365.00 in a report on Friday, January 24th. BMO Capital Markets lowered Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. BNP Paribas raised Air Products and Chemicals to a “strong-buy” rating in a report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $320.00 price target (down previously from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $342.65.

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.