D.A. Davidson & CO. Reduces Position in Air Products and Chemicals, Inc. (NYSE:APD)

D.A. Davidson & CO. lessened its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 8.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,428 shares of the basic materials company’s stock after selling 1,416 shares during the quarter. D.A. Davidson & CO.’s holdings in Air Products and Chemicals were worth $4,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Silver Oak Securities Incorporated raised its position in shares of Air Products and Chemicals by 1.1% during the 4th quarter. Silver Oak Securities Incorporated now owns 3,074 shares of the basic materials company’s stock valued at $888,000 after purchasing an additional 32 shares during the period. Bank of Stockton raised its position in shares of Air Products and Chemicals by 1.9% during the 3rd quarter. Bank of Stockton now owns 1,813 shares of the basic materials company’s stock valued at $540,000 after purchasing an additional 34 shares during the period. Exchange Traded Concepts LLC raised its position in shares of Air Products and Chemicals by 22.3% during 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 during the period. Chesapeake Wealth Management raised its position in shares of Air Products and Chemicals by 1.7% during the 3rd quarter. Chesapeake Wealth Management now owns 2,189 shares of the basic materials company’s stock valued at $652,000 after purchasing an additional 37 shares during the period. Finally, Keyes Stange & Wooten Wealth Management LLC raised its position in shares of Air Products and Chemicals by 1.5% during the 3rd quarter. Keyes Stange & Wooten Wealth Management LLC now owns 2,560 shares of the basic materials company’s stock valued at $762,000 after purchasing an additional 37 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

Shares of NYSE:APD opened at $316.89 on Thursday. The company has a market capitalization of $70.50 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 3.13 and a beta of 0.85. Air Products and Chemicals, Inc. has a 12 month low of $225.26 and a 12 month high of $341.14. The firm’s 50-day moving average is $308.49 and its 200 day moving average is $304.19. 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 issued its quarterly earnings results on Thursday, February 6th. The basic materials company reported $2.86 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%. Research analysts predict that Air Products and Chemicals, Inc. will post 12.69 EPS 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. This represents a $7.16 annualized dividend and a yield of 2.26%. This is an increase 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 is presently 41.11%.

Insiders Place Their Bets

In other Air Products and Chemicals news, insider Francesco Maione sold 2,016 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were 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 in the company, valued at $1,173,204. This represents a 34.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Wilbur Mok sold 1,300 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $315.88, for a total transaction of $410,644.00. Following the completion of the transaction, the insider now owns 3,193 shares in the company, valued at $1,008,604.84. This represents a 28.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,411 shares of company stock worth $4,186,642 in the last three months. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on APD shares. BMO Capital Markets downgraded 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 shares of Air Products and Chemicals to a “strong-buy” rating in a report on Tuesday, February 11th. Bank of America cut shares of 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. Sanford C. Bernstein upgraded shares of 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. Finally, UBS Group boosted their price target on shares of Air Products and Chemicals from $375.00 to $385.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $339.94.

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.