Motco Reduces Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Motco reduced its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,440 shares of the basic materials company’s stock after selling 293 shares during the period. Motco’s holdings in Air Products and Chemicals were worth $5,928,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of APD. Truvestments Capital LLC purchased a new position in shares of Air Products and Chemicals in the third quarter worth $25,000. Raleigh Capital Management Inc. grew its holdings in Air Products and Chemicals by 69.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 43 shares during the last quarter. Sierra Ocean LLC purchased a new position in shares of Air Products and Chemicals in the fourth quarter valued at about $30,000. Financial Life Planners bought a new position in shares of Air Products and Chemicals during the fourth quarter valued at about $31,000. Finally, Newton One Investments LLC purchased a new stake in shares of Air Products and Chemicals during the fourth quarter worth about $38,000. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

APD stock opened at $312.83 on Friday. The stock’s 50 day simple moving average is $309.57 and its 200 day simple moving average is $305.45. 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, Inc. has a 12-month low of $227.53 and a 12-month high of $341.14. The stock has a market capitalization of $69.60 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 3.07 and a beta of 0.85.

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 (EPS) 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%. As a group, research analysts forecast 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 declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be paid a $1.79 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.29%. Air Products and Chemicals’s payout ratio is currently 41.11%.

Wall Street Analyst Weigh In

A number of research firms have commented on APD. UBS Group upped their price target on Air Products and Chemicals from $375.00 to $385.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Bank of America downgraded Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 target price for the company. in a report on Monday, January 27th. StockNews.com cut shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, February 7th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $320.00 price objective (down from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. Finally, Barclays raised shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $315.00 to $365.00 in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $339.94.

Insider Activity

In other Air Products and Chemicals news, insider Wilbur Mok sold 1,300 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $315.88, for a total value of $410,644.00. Following the transaction, 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 SEC, which is accessible through this hyperlink. Also, VP Sean D. Major sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $315.46, for a total transaction of $1,419,570.00. Following the sale, the vice president now owns 14,273 shares of the company’s stock, valued at $4,502,560.58. This trade represents a 23.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,911 shares of company stock valued at $4,660,897 over the last three months. Insiders own 0.41% of the company’s stock.

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.