Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Palouse Capital Management Inc.

Palouse Capital Management Inc. lessened its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 1.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 12,332 shares of the basic materials company’s stock after selling 148 shares during the period. Air Products and Chemicals makes up 2.4% of Palouse Capital Management Inc.’s portfolio, making the stock its 11th largest position. Palouse Capital Management Inc.’s holdings in Air Products and Chemicals were worth $3,577,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC boosted its holdings in Air Products and Chemicals by 22.3% in the 3rd 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 in the last quarter. Creative Planning boosted its holdings in Air Products and Chemicals by 3.1% in the 3rd quarter. Creative Planning now owns 71,202 shares of the basic materials company’s stock valued at $21,200,000 after purchasing an additional 2,131 shares in the last quarter. Good Life Advisors LLC boosted its holdings in Air Products and Chemicals by 34.5% in the 3rd quarter. Good Life Advisors LLC now owns 2,872 shares of the basic materials company’s stock valued at $855,000 after purchasing an additional 737 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Air Products and Chemicals by 5.7% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,967 shares of the basic materials company’s stock valued at $7,731,000 after purchasing an additional 1,398 shares in the last quarter. Finally, Trust Point Inc. purchased a new stake in Air Products and Chemicals in the 3rd quarter valued at approximately $249,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Insider Activity

In related news, VP Sean D. Major sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $315.46, for a total transaction of $1,419,570.00. Following the sale, the vice president now owns 14,273 shares of the company’s stock, valued at $4,502,560.58. The trade was a 23.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Melissa N. Schaeffer sold 3,233 shares of the business’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 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 90 days, insiders have sold 9,749 shares of company stock valued at $3,030,032. Insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on APD. BMO Capital Markets lowered Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $320.00 price target (down previously from $345.00) on shares of Air Products and Chemicals in a research note on Friday, February 7th. Bank of America lowered Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price target on the stock. in a research note on Monday, January 27th. StockNews.com lowered Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Finally, Sanford C. Bernstein raised Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price target on the stock in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $339.94.

Air Products and Chemicals Stock Performance

Shares of APD stock opened at $316.74 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. The business has a 50 day moving average of $308.36 and a two-hundred day moving average of $303.10. Air Products and Chemicals, Inc. has a 52 week low of $220.26 and a 52 week high of $341.14. The company has a market cap of $70.44 billion, a P/E ratio of 18.39, a PEG ratio of 3.47 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share 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 12.77 EPS for the current year.

Air Products and Chemicals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Tuesday, April 1st. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s payout ratio is 41.11%.

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.