Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Bank of Nova Scotia Trust Co.

Bank of Nova Scotia Trust Co. trimmed its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 19.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,900 shares of the basic materials company’s stock after selling 700 shares during the period. Bank of Nova Scotia Trust Co.’s holdings in Air Products and Chemicals were worth $841,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Generali Investments Management Co LLC acquired a new position in shares of Air Products and Chemicals in the 4th quarter valued at about $26,000. Raleigh Capital Management Inc. raised its position in Air Products and Chemicals by 69.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 43 shares in the last quarter. Sierra Ocean LLC acquired a new position in Air Products and Chemicals in the fourth quarter valued at approximately $30,000. Financial Life Planners purchased a new stake in Air Products and Chemicals in the 4th quarter worth approximately $31,000. Finally, WR Wealth Planners LLC grew its stake in shares of Air Products and Chemicals by 40.3% during 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. 81.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

APD has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Citigroup dropped their target price on 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. UBS Group reduced their price target on Air Products and Chemicals from $370.00 to $335.00 and set a “buy” rating for the company in a report on Tuesday. Wells Fargo & Company lowered their price target on Air Products and Chemicals from $365.00 to $320.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Finally, BNP Paribas upgraded Air Products and Chemicals to a “strong-buy” rating in a research report on Tuesday, February 11th. Two analysts have rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Air Products and Chemicals has an average rating of “Moderate Buy” and a consensus target price of $332.18.

Air Products and Chemicals Stock Up 0.6 %

Shares of NYSE APD opened at $262.88 on Friday. The stock has a market cap of $58.48 billion, a PE ratio of 15.27, a P/E/G ratio of 3.07 and a beta of 0.89. 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, Inc. has a 12-month low of $228.81 and a 12-month high of $341.14. The company has a 50-day moving average of $292.75 and a 200 day moving average of $306.44.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results on Thursday, February 6th. The basic materials company reported $2.86 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%. As a group, sell-side analysts predict that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Increases Dividend

The company 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. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.72%. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s dividend payout ratio is currently 41.58%.

Insider Buying and Selling

In other news, VP Sean D. Major sold 4,500 shares of the stock in a transaction that occurred 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 sale, the vice president now owns 14,273 shares of the company’s stock, valued at $4,502,560.58. This represents a 23.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Melissa N. Schaeffer sold 3,233 shares of Air Products and Chemicals stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $307.32, for a total transaction of $993,565.56. Following the sale, the chief financial officer now directly owns 10,680 shares in the company, valued at approximately $3,282,177.60. The trade was a 23.24 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,500 shares of company stock worth $4,842,604. Insiders own 0.41% of the company’s stock.

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.