Bank of Nova Scotia Reduces Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Bank of Nova Scotia lessened its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 92.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,850 shares of the basic materials company’s stock after selling 372,597 shares during the period. Bank of Nova Scotia’s holdings in Air Products and Chemicals were worth $8,948,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Generali Investments Management Co LLC bought a new stake in shares of Air Products and Chemicals in the 4th quarter worth approximately $26,000. Sierra Ocean LLC bought a new stake in Air Products and Chemicals in the fourth quarter valued at $30,000. Raleigh Capital Management Inc. increased its position in Air Products and Chemicals by 69.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 43 shares during the period. Financial Life Planners bought a new position in Air Products and Chemicals in the 4th quarter worth $31,000. Finally, WR Wealth Planners LLC lifted its position in shares of Air Products and Chemicals by 40.3% in the 4th quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 31 shares during the period. Institutional investors own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on APD shares. Sanford C. Bernstein upgraded shares of Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price target on the stock in a research report on Friday, January 31st. BNP Paribas upgraded Air Products and Chemicals to a “strong-buy” rating in a report on Tuesday, February 11th. 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 reduced their price target on Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating on the stock in a research note on Tuesday, March 25th. Finally, StockNews.com downgraded 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 issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $338.24.

Air Products and Chemicals Trading Up 2.6 %

Shares of NYSE APD opened at $268.88 on Friday. The firm’s 50 day moving average price is $298.09 and its 200-day moving average price is $307.63. Air Products and Chemicals, Inc. has a 52-week low of $227.53 and a 52-week high of $341.14. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 1.11. The company has a market cap of $59.82 billion, a PE ratio of 15.61, a P/E/G ratio of 3.07 and a beta of 0.89.

Air Products and Chemicals (NYSE:APD) last released 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 net margin of 31.88% and a return on equity of 15.78%. On average, equities research 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 disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be issued a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 2.66%. 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%.

Insiders Place Their Bets

In other news, insider Francesco Maione sold 2,016 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $306.00, for a total transaction of $616,896.00. Following the completion of the transaction, the insider now directly owns 3,834 shares of the company’s stock, valued at $1,173,204. The trade was a 34.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sean D. Major sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $315.46, for a total transaction of $1,419,570.00. Following the completion of the sale, the vice president now owns 14,273 shares in the company, valued at $4,502,560.58. This represents a 23.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,500 shares of company stock valued at $4,842,604. 0.41% of the stock is 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.