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

Pitcairn Co. cut its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,828 shares of the basic materials company’s stock after selling 255 shares during the period. Pitcairn Co.’s holdings in Air Products and Chemicals were worth $1,980,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. DF Dent & Co. Inc. purchased a new stake in Air Products and Chemicals in the fourth quarter valued at approximately $419,000. ExodusPoint Capital Management LP purchased a new stake in shares of Air Products and Chemicals in the 4th quarter valued at $25,367,000. Arete Wealth Advisors LLC lifted its stake in Air Products and Chemicals by 41.1% during the 4th quarter. Arete Wealth Advisors LLC now owns 4,024 shares of the basic materials company’s stock worth $1,167,000 after acquiring an additional 1,172 shares in the last quarter. World Investment Advisors boosted its holdings in Air Products and Chemicals by 7.5% during the 4th quarter. World Investment Advisors now owns 41,289 shares of the basic materials company’s stock valued at $11,975,000 after acquiring an additional 2,866 shares during the period. Finally, Westpac Banking Corp grew its position in Air Products and Chemicals by 132.4% in the 4th quarter. Westpac Banking Corp now owns 1,369 shares of the basic materials company’s stock valued at $397,000 after acquiring an additional 780 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Air Products and Chemicals news, VP Walter L. Nelson sold 589 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $308.50, for a total transaction of $181,706.50. Following the sale, the vice president now owns 719 shares in the company, valued at approximately $221,811.50. This represents a 45.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kurt Lefevere sold 1,500 shares of Air Products and Chemicals stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $316.17, for a total value of $474,255.00. Following the sale, the insider now owns 1,462 shares of the company’s stock, valued at approximately $462,240.54. This represents a 50.64 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,500 shares of company stock worth $4,842,604. 0.41% of the stock is owned by corporate insiders.

Air Products and Chemicals Trading Down 4.1 %

Shares of Air Products and Chemicals stock opened at $282.94 on Friday. The company’s fifty day moving average is $309.46 and its two-hundred day moving average is $309.29. Air Products and Chemicals, Inc. has a 1 year low of $227.53 and a 1 year high of $341.14. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 1.11. The company has a market capitalization of $62.95 billion, a P/E ratio of 16.43, a PEG ratio of 3.07 and a beta of 0.88.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data 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 net margin of 31.88% and a return on equity of 15.78%. 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. Stockholders of record on Tuesday, April 1st will be paid a dividend of $1.79 per share. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date is Tuesday, April 1st. This represents a $7.16 annualized dividend and a dividend yield of 2.53%. Air Products and Chemicals’s payout ratio is 41.58%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Air Products and Chemicals from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Barclays decreased their price target on shares of Air Products and Chemicals from $365.00 to $355.00 and set an “overweight” rating for the company in a research report on Tuesday. Bank of America lowered Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price objective on the stock. in a research report on Monday, January 27th. StockNews.com cut 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 report on Friday, January 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $340.88.

Air Products and Chemicals Company 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.