Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN reduced its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 5.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,875,750 shares of the basic materials company’s stock after selling 109,231 shares during the quarter. Wells Fargo & Company MN’s holdings in Air Products and Chemicals were worth $544,042,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of APD. Norges Bank acquired a new stake in Air Products and Chemicals during the 4th quarter worth $919,721,000. Raymond James Financial Inc. purchased a new stake in shares of Air Products and Chemicals in the fourth quarter valued at about $885,371,000. Orion Portfolio Solutions LLC boosted its stake in shares of Air Products and Chemicals by 1,615.5% during the fourth quarter. Orion Portfolio Solutions LLC now owns 530,005 shares of the basic materials company’s stock worth $153,723,000 after buying an additional 499,110 shares during the period. 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, Vanguard Group Inc. increased its position in Air Products and Chemicals by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 21,485,176 shares of the basic materials company’s stock valued at $6,231,560,000 after acquiring an additional 207,404 shares during the period. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Performance

NYSE APD opened at $263.35 on Friday. The business has a 50 day moving average price of $308.14 and a 200 day moving average price of $309.11. The company has a market capitalization of $58.59 billion, a P/E ratio of 15.29, a PEG ratio of 3.07 and a beta of 0.88. Air Products and Chemicals, Inc. has a 1-year low of $227.53 and a 1-year high of $341.14. 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 (NYSE:APD) last announced its quarterly earnings results 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%. Sell-side analysts expect that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be issued a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Tuesday, April 1st. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s dividend payout ratio is 41.58%.

Analysts Set New Price Targets

Several brokerages have weighed in on APD. Sanford C. Bernstein upgraded Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 target price on the stock in a research note on Friday, January 31st. Citigroup lowered their price objective on shares of Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. Wells Fargo & Company upped their price objective on shares of Air Products and Chemicals from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. BMO Capital Markets downgraded shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. Finally, StockNews.com cut shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Air Products and Chemicals currently has an average rating of “Moderate Buy” and an average price target of $340.88.

Insider Activity

In related news, VP Sean D. Major sold 4,500 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $4,502,560.58. The trade was a 23.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Wilbur Mok sold 1,300 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 3,193 shares in the company, valued at approximately $1,008,604.84. This trade represents a 28.93 % decrease in their ownership of the stock. 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 ninety days. 0.41% of the stock is currently owned by insiders.

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.