Levin Capital Strategies L.P. Sells 500 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Levin Capital Strategies L.P. lowered its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 7.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,937 shares of the basic materials company’s stock after selling 500 shares during the period. Levin Capital Strategies L.P.’s holdings in Air Products and Chemicals were worth $1,722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nixon Peabody Trust Co. increased its position in Air Products and Chemicals by 1.5% in the fourth quarter. Nixon Peabody Trust Co. now owns 4,866 shares of the basic materials company’s stock worth $1,411,000 after purchasing an additional 70 shares during the last quarter. Middleton & Co. Inc. MA increased its position in Air Products and Chemicals by 6.8% in the fourth quarter. Middleton & Co. Inc. MA now owns 3,153 shares of the basic materials company’s stock worth $914,000 after purchasing an additional 200 shares during the last quarter. Nichols & Pratt Advisers LLP MA increased its position in Air Products and Chemicals by 0.5% in the fourth quarter. Nichols & Pratt Advisers LLP MA now owns 47,213 shares of the basic materials company’s stock worth $13,694,000 after purchasing an additional 253 shares during the last quarter. Jacobi Capital Management LLC increased its position in Air Products and Chemicals by 1.4% in the fourth quarter. Jacobi Capital Management LLC now owns 10,869 shares of the basic materials company’s stock worth $3,152,000 after purchasing an additional 145 shares during the last quarter. Finally, Metis Global Partners LLC increased its position in Air Products and Chemicals by 20.8% in the fourth quarter. Metis Global Partners LLC now owns 8,563 shares of the basic materials company’s stock worth $2,484,000 after purchasing an additional 1,475 shares during the last quarter. Institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on APD. 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. Citigroup boosted their price target on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Wells Fargo & Company lifted their price objective on shares of Air Products and Chemicals from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. UBS Group lifted their price objective 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. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $320.00 price objective (down from $345.00) on shares of Air Products and Chemicals in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Air Products and Chemicals presently has an average rating of “Moderate Buy” and a consensus target price of $343.53.

Air Products and Chemicals Stock Up 1.3 %

Shares of APD opened at $316.55 on Friday. The firm has a market capitalization of $70.42 billion, a P/E ratio of 18.38, a P/E/G ratio of 3.07 and a beta of 0.85. Air Products and Chemicals, Inc. has a 12-month low of $227.53 and a 12-month high of $341.14. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71. The firm has a fifty day moving average price of $310.00 and a 200-day moving average price of $305.95.

Air Products and Chemicals (NYSE:APD) last issued its 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%. Equities research analysts expect that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be paid a $1.79 dividend. The ex-dividend date 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 yield of 2.26%. Air Products and Chemicals’s dividend payout ratio is 41.58%.

Insider Buying and Selling

In related news, VP Sean D. Major sold 4,500 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $315.46, for a total value of $1,419,570.00. Following the completion of the sale, the vice president now directly owns 14,273 shares of the company’s stock, valued at $4,502,560.58. This represents a 23.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Victoria Brifo sold 2,362 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $315.82, for a total transaction of $745,966.84. Following the completion of the sale, the vice president now directly owns 10,045 shares of the company’s stock, valued at approximately $3,172,411.90. This trade represents a 19.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,911 shares of company stock valued at $4,660,897 over the last three months. 0.41% of the stock is owned by company insiders.

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.