Massachusetts Financial Services Co. MA Sells 1,046,634 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Massachusetts Financial Services Co. MA lessened its position in Air Products and Chemicals, Inc. (NYSE:APD) by 38.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,690,341 shares of the basic materials company’s stock after selling 1,046,634 shares during the period. Massachusetts Financial Services Co. MA owned about 0.76% of Air Products and Chemicals worth $490,267,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank bought a new position in Air Products and Chemicals during the fourth quarter worth about $919,721,000. Raymond James Financial Inc. acquired a new stake in Air Products and Chemicals in the fourth quarter valued at approximately $885,371,000. Sachem Head Capital Management LP bought a new stake in Air Products and Chemicals during the 3rd quarter worth $163,013,000. Orion Portfolio Solutions LLC increased its stake in shares of Air Products and Chemicals by 1,615.5% in the fourth quarter. Orion Portfolio Solutions LLC now owns 530,005 shares of the basic materials company’s stock valued at $153,723,000 after buying an additional 499,110 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in Air Products and Chemicals in the fourth quarter valued at $71,307,000. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Trading Up 0.5 %

Shares of NYSE APD opened at $295.05 on Thursday. Air Products and Chemicals, Inc. has a fifty-two week low of $227.53 and a fifty-two week high of $341.14. The company has a market cap of $65.64 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 3.07 and a beta of 0.88. The business’s 50 day moving average price is $310.28 and its 200-day moving average price is $309.48. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 1.11.

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 the consensus estimate of $3.13 by ($0.27). Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. On average, sell-side analysts expect that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders 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 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals’s payout ratio is presently 41.58%.

Insider Buying and Selling at Air Products and Chemicals

In other news, insider Wilbur Mok sold 1,300 shares of Air Products and Chemicals stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $315.88, for a total transaction of $410,644.00. Following the completion of the transaction, the insider now directly owns 3,193 shares of the company’s stock, valued at $1,008,604.84. The trade was a 28.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Melissa N. Schaeffer sold 3,233 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $307.32, for a total value of $993,565.56. Following the transaction, the chief financial officer now directly owns 10,680 shares of the company’s stock, valued at approximately $3,282,177.60. The trade was a 23.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,500 shares of company stock worth $4,842,604. 0.41% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on APD. Barclays lowered their price objective on Air Products and Chemicals from $365.00 to $355.00 and set an “overweight” rating for the company in a research report on Tuesday. Sanford C. Bernstein raised shares of Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price objective on the stock in a research note on Friday, January 31st. Wells Fargo & Company raised their price objective on 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. Bank of America downgraded Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 target price on the stock. in a research note on Monday, January 27th. Finally, StockNews.com lowered shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Air Products and Chemicals has an average rating of “Moderate Buy” and an average price target of $340.88.

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.