1ST Source Bank Has $2.61 Million Position in Air Products and Chemicals, Inc. (NYSE:APD)

1ST Source Bank lowered its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,991 shares of the basic materials company’s stock after selling 303 shares during the quarter. 1ST Source Bank’s holdings in Air Products and Chemicals were worth $2,608,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of APD. CIBC Asset Management Inc boosted its holdings in shares of Air Products and Chemicals by 7.5% in the 3rd quarter. CIBC Asset Management Inc now owns 38,712 shares of the basic materials company’s stock valued at $11,526,000 after purchasing an additional 2,686 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Air Products and Chemicals in the 3rd quarter valued at $200,000. Natixis Advisors LLC boosted its holdings in shares of Air Products and Chemicals by 31.9% in the 3rd quarter. Natixis Advisors LLC now owns 156,833 shares of the basic materials company’s stock valued at $46,695,000 after purchasing an additional 37,964 shares in the last quarter. Schear Investment Advisers LLC boosted its holdings in shares of Air Products and Chemicals by 4.1% in the 3rd quarter. Schear Investment Advisers LLC now owns 3,730 shares of the basic materials company’s stock valued at $1,111,000 after purchasing an additional 146 shares in the last quarter. Finally, BCGM Wealth Management LLC boosted its holdings in shares of Air Products and Chemicals by 4.4% in the 3rd quarter. BCGM Wealth Management LLC now owns 3,354 shares of the basic materials company’s stock valued at $999,000 after purchasing an additional 140 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Insider Activity

In related news, VP Walter L. Nelson sold 589 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $308.50, for a total value of $181,706.50. Following the completion of the transaction, the vice president now directly owns 719 shares in the company, valued at approximately $221,811.50. The trade was a 45.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kurt Lefevere sold 1,500 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $316.17, for a total transaction of $474,255.00. Following the completion of the transaction, the insider now owns 1,462 shares of the company’s stock, valued at $462,240.54. This trade represents a 50.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,500 shares of company stock worth $4,842,604 in the last three months. Corporate insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $320.00 target price (down previously from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. StockNews.com cut Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. 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. BNP Paribas upgraded Air Products and Chemicals to a “strong-buy” rating in a research note on Tuesday, February 11th. Finally, UBS Group dropped their price target on Air Products and Chemicals from $395.00 to $370.00 and set a “buy” rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $342.65.

Air Products and Chemicals Trading Down 0.4 %

Shares of APD stock opened at $291.82 on Monday. The company’s fifty day simple moving average is $312.54 and its two-hundred day simple moving average is $308.12. 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, Inc. has a 1 year low of $227.53 and a 1 year high of $341.14. The stock has a market capitalization of $64.92 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 3.07 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD) last issued its earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share (EPS) 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%. As a group, 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 company 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 is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals’s payout ratio is 41.58%.

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.