Essex Investment Management Co. LLC Decreases Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Essex Investment Management Co. LLC lessened its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 5.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,119 shares of the basic materials company’s stock after selling 228 shares during the period. Essex Investment Management Co. LLC’s holdings in Air Products and Chemicals were worth $1,195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Fiera Capital Corp purchased a new position in shares of Air Products and Chemicals in the third quarter worth about $223,000. CWA Asset Management Group LLC purchased a new position in Air Products and Chemicals during the third quarter worth approximately $908,000. Rovin Capital UT ADV purchased a new position in shares of Air Products and Chemicals during the 3rd quarter valued at approximately $239,000. Verdence Capital Advisors LLC lifted its holdings in Air Products and Chemicals by 12.6% during the third quarter. Verdence Capital Advisors LLC now owns 1,985 shares of the basic materials company’s stock valued at $591,000 after purchasing an additional 222 shares in the last quarter. Finally, Assetmark Inc. boosted its holdings in Air Products and Chemicals by 11.2% in the 3rd quarter. Assetmark Inc. now owns 53,174 shares of the basic materials company’s stock worth $15,832,000 after buying an additional 5,374 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on APD shares. UBS Group boosted their price target on Air Products and Chemicals from $375.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $320.00 price objective (down previously from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. Barclays upgraded Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $315.00 to $365.00 in a research report on Friday, January 24th. StockNews.com cut shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. Finally, Citigroup boosted their price objective on Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $343.53.

Insider Transactions at Air Products and Chemicals

In other Air Products and Chemicals news, insider Wilbur Mok sold 1,300 shares of Air Products and Chemicals 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 owns 3,193 shares of the company’s stock, valued at approximately $1,008,604.84. The trade was a 28.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $1,419,570.00. Following the transaction, the vice president now owns 14,273 shares in the company, valued at $4,502,560.58. The trade was a 23.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,500 shares of company stock worth $4,842,604 over the last 90 days. 0.41% of the stock is currently owned by insiders.

Air Products and Chemicals Trading Up 1.9 %

NYSE:APD opened at $316.76 on Monday. The stock has a 50-day simple moving average of $311.63 and a 200-day simple moving average of $307.43. The stock has a market cap of $70.47 billion, a P/E ratio of 18.39, a P/E/G ratio of 3.07 and a beta of 0.85. 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.

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 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%. As a group, analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be issued a $1.79 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.26%. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s payout ratio is presently 41.58%.

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.