Oak Harbor Wealth Partners LLC Decreases Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Oak Harbor Wealth Partners LLC reduced its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,528 shares of the basic materials company’s stock after selling 158 shares during the quarter. Oak Harbor Wealth Partners LLC’s holdings in Air Products and Chemicals were worth $1,893,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in Air Products and Chemicals in the 4th quarter worth approximately $885,371,000. ING Groep NV lifted its position in shares of Air Products and Chemicals by 240.7% during the third quarter. ING Groep NV now owns 1,023,433 shares of the basic materials company’s stock worth $304,717,000 after purchasing an additional 723,019 shares in the last quarter. Mizuho Markets Americas LLC boosted its stake in shares of Air Products and Chemicals by 318.7% in the third quarter. Mizuho Markets Americas LLC now owns 948,723 shares of the basic materials company’s stock valued at $282,473,000 after purchasing an additional 722,132 shares during the period. Sachem Head Capital Management LP acquired a new stake in Air Products and Chemicals during the 3rd quarter valued at $163,013,000. Finally, TOMS Capital Investment Management LP purchased a new stake in Air Products and Chemicals during the 3rd quarter worth $159,886,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Insider Activity at Air Products and Chemicals

In other Air Products and Chemicals news, VP Walter L. Nelson sold 589 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $308.50, for a total transaction of $181,706.50. Following the transaction, the vice president now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Sean D. Major sold 4,500 shares of the company’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 transaction 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 approximately $4,502,560.58. This represents a 23.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,500 shares of company stock worth $4,842,604 over the last ninety days. 0.41% of the stock is currently owned by corporate insiders.

Air Products and Chemicals Stock Up 1.9 %

Air Products and Chemicals stock opened at $316.76 on Friday. The firm has a market capitalization 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. The company has a 50-day simple moving average of $311.63 and a 200-day simple moving average of $306.98. Air Products and Chemicals, Inc. has a one year low of $227.53 and a one 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 issued its quarterly earnings data on Thursday, February 6th. The basic materials company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.27). Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. As a group, equities 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 declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $1.79 per share. 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. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is 41.58%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on APD. BMO Capital Markets cut shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research report on Friday, February 7th. Wells Fargo & Company raised their price objective on Air Products and Chemicals from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. BNP Paribas raised Air Products and Chemicals to a “strong-buy” rating in a research report on Tuesday, February 11th. 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 for the company in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. reiterated 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 investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $343.53.

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.