Aviva PLC Cuts Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Aviva PLC decreased its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 44.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 133,893 shares of the basic materials company’s stock after selling 108,485 shares during the period. Aviva PLC owned about 0.06% of Air Products and Chemicals worth $38,834,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Air Products and Chemicals by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 21,485,176 shares of the basic materials company’s stock worth $6,231,560,000 after purchasing an additional 207,404 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Air Products and Chemicals by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 4,931,661 shares of the basic materials company’s stock valued at $1,430,354,000 after buying an additional 57,314 shares during the last quarter. Norges Bank bought a new stake in shares of Air Products and Chemicals in the 4th quarter valued at about $919,721,000. Raymond James Financial Inc. purchased a new position in shares of Air Products and Chemicals in the 4th quarter worth approximately $885,371,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Air Products and Chemicals by 1.5% during the 4th quarter. Bank of New York Mellon Corp now owns 2,088,449 shares of the basic materials company’s stock worth $605,734,000 after acquiring an additional 30,888 shares in the last quarter. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

NYSE APD opened at $263.35 on Monday. The firm has a market capitalization of $58.59 billion, a P/E ratio of 15.29, a PEG ratio of 3.07 and a beta of 0.88. The stock has a 50-day simple moving average of $308.14 and a two-hundred day simple moving average of $309.39. 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, Inc. has a fifty-two week low of $227.53 and a fifty-two week high of $341.14.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share 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%. On average, equities analysts forecast 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. Investors of record on Tuesday, April 1st will be issued a dividend of $1.79 per share. The ex-dividend date of this dividend is Tuesday, April 1st. 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 2.72%. Air Products and Chemicals’s dividend payout ratio is 41.58%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Barclays cut their price target on shares of Air Products and Chemicals from $365.00 to $355.00 and set an “overweight” rating on the stock in a report on Tuesday, April 1st. BMO Capital Markets downgraded Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research note 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. JPMorgan Chase & Co. restated 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. Finally, Bank of America lowered shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price objective for the company. in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $340.88.

Insider Activity at Air Products and Chemicals

In other Air Products and Chemicals news, insider Wilbur Mok sold 1,300 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $315.88, for a total value of $410,644.00. Following the sale, the insider now directly owns 3,193 shares of the company’s stock, valued at approximately $1,008,604.84. This trade represents a 28.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Francesco Maione sold 2,016 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $306.00, for a total value of $616,896.00. Following the transaction, the insider now directly owns 3,834 shares of the company’s stock, valued at approximately $1,173,204. The trade was a 34.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,500 shares of company stock worth $4,842,604. 0.41% of the stock is owned by company insiders.

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.