Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Lowe Brockenbrough & Co. Inc.

Lowe Brockenbrough & Co. Inc. trimmed its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 3.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,043 shares of the basic materials company’s stock after selling 153 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in Air Products and Chemicals were worth $1,173,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new stake in Air Products and Chemicals during the 3rd quarter worth approximately $25,000. Generali Investments Management Co LLC acquired a new stake in Air Products and Chemicals during the 4th quarter worth approximately $26,000. Sierra Ocean LLC acquired a new stake in Air Products and Chemicals during the 4th quarter worth approximately $30,000. Raleigh Capital Management Inc. lifted 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 worth $30,000 after acquiring an additional 43 shares during the period. Finally, Financial Life Planners acquired a new stake in shares of Air Products and Chemicals in the 4th quarter valued at approximately $31,000. 81.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Kurt Lefevere sold 1,500 shares of Air Products and Chemicals stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $316.17, for a total value of $474,255.00. Following the transaction, the insider now owns 1,462 shares in the company, valued at approximately $462,240.54. This trade represents a 50.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Walter L. Nelson sold 589 shares of Air Products and Chemicals 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 owns 719 shares in the company, valued at $221,811.50. The trade was a 45.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,500 shares of company stock valued at $4,842,604 over the last quarter. Company insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. BMO Capital Markets cut 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 issued a $320.00 price target (down from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. Wells Fargo & Company raised their price target on Air Products and Chemicals from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, February 7th. StockNews.com cut Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Finally, Barclays raised Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $315.00 to $365.00 in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $342.65.

Air Products and Chemicals Price Performance

Shares of NYSE:APD opened at $291.35 on Friday. The company has a market cap of $64.82 billion, a P/E ratio of 16.92, a P/E/G ratio of 3.07 and a beta of 0.85. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. Air Products and Chemicals, Inc. has a 52 week low of $227.53 and a 52 week high of $341.14. The business has a fifty day simple moving average of $313.19 and a 200-day simple moving average of $308.22.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data on Thursday, February 6th. The basic materials company reported $2.86 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%. Equities research analysts forecast that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be given 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 2.46%. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s payout ratio is currently 41.58%.

Air Products and Chemicals 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.