King Luther Capital Management Corp Reduces Position in Air Products and Chemicals, Inc. (NYSE:APD)

King Luther Capital Management Corp decreased its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 11.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 114,269 shares of the basic materials company’s stock after selling 15,112 shares during the period. King Luther Capital Management Corp’s holdings in Air Products and Chemicals were worth $33,143,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of APD. First Horizon Advisors Inc. raised its holdings in shares of Air Products and Chemicals by 1.8% in the 4th quarter. First Horizon Advisors Inc. now owns 1,742 shares of the basic materials company’s stock worth $505,000 after purchasing an additional 31 shares in the last quarter. Lake Street Advisors Group LLC grew its position in Air Products and Chemicals by 1.6% in the fourth quarter. Lake Street Advisors Group LLC now owns 2,028 shares of the basic materials company’s stock worth $588,000 after buying an additional 31 shares during the last quarter. WR Wealth Planners LLC increased its holdings in shares of Air Products and Chemicals by 40.3% in the fourth quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company’s stock valued at $31,000 after buying an additional 31 shares in the last quarter. Silver Oak Securities Incorporated lifted 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 acquiring an additional 32 shares during the last quarter. Finally, SRS Capital Advisors Inc. boosted its stake in shares of Air Products and Chemicals by 3.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 974 shares of the basic materials company’s stock worth $282,000 after acquiring an additional 33 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on APD. Barclays upgraded Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $315.00 to $365.00 in a research report on Friday, January 24th. Wells Fargo & Company lifted their target price on shares of Air Products and Chemicals from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. StockNews.com downgraded shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report 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 report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $320.00 target price (down from $345.00) on shares of Air Products and Chemicals in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $343.53.

Air Products and Chemicals Trading Down 1.7 %

NYSE:APD opened at $298.41 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. Air Products and Chemicals, Inc. has a twelve month low of $227.53 and a twelve month high of $341.14. The company has a market cap of $66.39 billion, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 3.07 and a beta of 0.85. The business has a 50 day moving average price of $312.10 and a two-hundred day moving average price of $307.80.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share 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, analysts expect that Air Products and Chemicals, Inc. will post 12.69 EPS 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. 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 2.40%. 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. Air Products and Chemicals’s dividend payout ratio is presently 41.58%.

Insider Activity at Air Products and Chemicals

In other news, VP Sean D. Major sold 4,500 shares of Air Products and Chemicals 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 transaction, the vice president now directly owns 14,273 shares in the company, valued at approximately $4,502,560.58. The trade was a 23.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Francesco Maione sold 2,016 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $306.00, for a total transaction of $616,896.00. Following the completion of the transaction, the insider now owns 3,834 shares in the company, valued at approximately $1,173,204. This represents a 34.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,500 shares of company stock valued at $4,842,604. 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.