Biltmore Family Office LLC Trims Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Biltmore Family Office LLC trimmed its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 9.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 785 shares of the basic materials company’s stock after selling 78 shares during the quarter. Biltmore Family Office LLC’s holdings in Air Products and Chemicals were worth $228,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew 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 valued at $6,231,560,000 after acquiring an additional 207,404 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Air Products and Chemicals by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 4,931,661 shares of the basic materials company’s stock worth $1,430,354,000 after acquiring an additional 57,314 shares during the last quarter. Norges Bank bought a new stake in shares of Air Products and Chemicals during the 4th quarter worth approximately $919,721,000. Raymond James Financial Inc. purchased a new position in Air Products and Chemicals during the 4th quarter valued at $885,371,000. Finally, Bank of New York Mellon Corp grew its position in Air Products and Chemicals by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 2,088,449 shares of the basic materials company’s stock valued at $605,734,000 after acquiring an additional 30,888 shares during the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Performance

Air Products and Chemicals stock opened at $295.05 on Thursday. Air Products and Chemicals, Inc. has a 52 week low of $227.53 and a 52 week high of $341.14. The stock has a fifty day moving average price of $310.28 and a 200 day moving average price of $309.48. The firm has a market capitalization of $65.64 billion, a P/E ratio of 17.13, a PEG ratio of 3.07 and a beta of 0.88. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data 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%. Equities research analysts anticipate 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 announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be issued a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 2.43%. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date of this dividend is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 41.58%.

Insider Activity

In related news, insider Wilbur Mok sold 1,300 shares of Air Products and Chemicals stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $315.88, for a total value of $410,644.00. Following the transaction, the insider now owns 3,193 shares in the company, valued at $1,008,604.84. This trade represents a 28.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Walter L. Nelson sold 589 shares of the company’s stock in a transaction that occurred 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 directly owns 719 shares of the company’s stock, valued at approximately $221,811.50. This trade represents a 45.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,500 shares of company stock worth $4,842,604 over the last 90 days. 0.41% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. UBS Group cut their price target on shares of Air Products and Chemicals from $395.00 to $370.00 and set a “buy” rating on the stock in a report on Friday, March 14th. BMO Capital Markets lowered shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research report on Friday, February 7th. BNP Paribas upgraded Air Products and Chemicals to a “strong-buy” rating in a report on Tuesday, February 11th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $320.00 target price (down previously from $345.00) on shares of Air Products and Chemicals in a research report on Friday, February 7th. Finally, Sanford C. Bernstein upgraded Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 target price 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 given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Air Products and Chemicals presently has an average rating of “Moderate Buy” and a consensus price target of $340.88.

About Air Products and Chemicals

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.