Coho Partners Ltd. Reduces Position in Air Products and Chemicals, Inc. (NYSE:APD)

Coho Partners Ltd. decreased its position in Air Products and Chemicals, Inc. (NYSE:APD) by 13.7% in the fourth quarter, Holdings Channel reports. The firm owned 189,356 shares of the basic materials company’s stock after selling 29,955 shares during the period. Air Products and Chemicals accounts for 2.5% of Coho Partners Ltd.’s investment portfolio, making the stock its 25th largest holding. Coho Partners Ltd.’s holdings in Air Products and Chemicals were worth $54,921,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the company. Exchange Traded Concepts LLC increased its holdings in shares of Air Products and Chemicals by 22.3% in the third quarter. Exchange Traded Concepts LLC now owns 203 shares of the basic materials company’s stock valued at $60,000 after purchasing an additional 37 shares during the period. CX Institutional lifted its holdings in Air Products and Chemicals by 2.6% during the third quarter. CX Institutional now owns 1,343 shares of the basic materials company’s stock valued at $400,000 after purchasing an additional 34 shares in the last quarter. Creative Planning raised its position in shares of Air Products and Chemicals by 3.1% in the third quarter. Creative Planning now owns 71,202 shares of the basic materials company’s stock valued at $21,200,000 after buying an additional 2,131 shares during the last quarter. Magnus Financial Group LLC acquired a new stake in shares of Air Products and Chemicals in the third quarter valued at about $200,000. Finally, Carderock Capital Management Inc. increased its position in Air Products and Chemicals by 5.5% during the third quarter. Carderock Capital Management Inc. now owns 25,699 shares of the basic materials company’s stock worth $7,652,000 after purchasing an additional 1,331 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

NYSE:APD opened at $315.30 on Friday. The stock has a market cap of $70.12 billion, a P/E ratio of 18.31, a PEG ratio of 3.47 and a beta of 0.85. The stock has a 50 day simple moving average of $308.56 and a 200 day simple moving average of $302.65. The company has a current ratio of 1.11, a quick ratio of 1.34 and a debt-to-equity ratio of 0.71. Air Products and Chemicals, Inc. has a 1-year low of $216.30 and a 1-year high of $341.14.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results 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%. Research analysts anticipate that Air Products and Chemicals, Inc. will post 12.77 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be paid a dividend of $1.79 per share. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio is 41.11%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on APD shares. UBS Group lifted their price target on shares of Air Products and Chemicals from $375.00 to $385.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. BMO Capital Markets cut shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $320.00 price objective (down previously from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. StockNews.com cut shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Finally, Wells Fargo & Company boosted their price objective on shares of 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $339.94.

Insider Transactions at Air Products and Chemicals

In other Air Products and Chemicals news, insider Francesco Maione sold 2,016 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $306.00, for a total transaction of $616,896.00. Following the sale, the insider now owns 3,834 shares in the company, valued at $1,173,204. This represents a 34.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Sean D. Major sold 4,500 shares of the stock in a transaction on Friday, February 7th. The stock was 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 in the company, valued at $4,502,560.58. This trade represents a 23.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,749 shares of company stock valued at $3,030,032 over the last ninety days. 0.41% of the stock is currently owned by insiders.

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.