Mitchell Sinkler & Starr PA Reduces Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Mitchell Sinkler & Starr PA reduced its position in Air Products and Chemicals, Inc. (NYSE:APD) by 11.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,477 shares of the basic materials company’s stock after selling 4,188 shares during the quarter. Air Products and Chemicals accounts for approximately 2.5% of Mitchell Sinkler & Starr PA’s investment portfolio, making the stock its 10th largest holding. Mitchell Sinkler & Starr PA’s holdings in Air Products and Chemicals were worth $9,420,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Truvestments Capital LLC purchased a new position in shares of Air Products and Chemicals in the 3rd quarter valued at $25,000. CreativeOne Wealth LLC grew its stake in Air Products and Chemicals by 14.8% in the third quarter. CreativeOne Wealth LLC now owns 1,469 shares of the basic materials company’s stock valued at $437,000 after purchasing an additional 189 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Air Products and Chemicals by 3.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 82,515 shares of the basic materials company’s stock worth $24,568,000 after purchasing an additional 2,587 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Air Products and Chemicals by 0.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,041,176 shares of the basic materials company’s stock valued at $310,000,000 after buying an additional 9,260 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in shares of Air Products and Chemicals by 12.9% in the 3rd quarter. Public Sector Pension Investment Board now owns 9,640 shares of the basic materials company’s stock valued at $2,870,000 after buying an additional 1,100 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Price Performance

Shares of APD opened at $292.34 on Friday. The company has a market capitalization of $65.04 billion, a P/E ratio of 16.98, a P/E/G ratio of 3.07 and a beta of 0.85. The business’s 50-day moving average is $311.68 and its two-hundred day moving average is $308.95. 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, Inc. has a fifty-two week low of $227.53 and a fifty-two week high of $341.14.

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 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 earnings per share 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 given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 2.45%. 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 (DPR) is currently 41.58%.

Wall Street Analysts Forecast Growth

APD has been the subject of several recent analyst reports. Citigroup reduced their price objective on shares of Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating for the company in a research note on Tuesday. UBS Group reduced their price target on Air Products and Chemicals from $395.00 to $370.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Bank of America cut Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price objective for the company. in a research report on Monday, January 27th. BNP Paribas raised Air Products and Chemicals to a “strong-buy” rating in a research report on Tuesday, February 11th. Finally, Barclays raised Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $315.00 to $365.00 in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $341.47.

Insider Buying and Selling at Air Products and Chemicals

In related news, VP Sean D. Major sold 4,500 shares of Air Products and Chemicals stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $315.46, for a total value of $1,419,570.00. Following the completion of the transaction, the vice president now owns 14,273 shares in the company, valued at $4,502,560.58. The trade was a 23.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Victoria Brifo sold 2,362 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $315.82, for a total value of $745,966.84. Following the transaction, the vice president now owns 10,045 shares in the company, valued at $3,172,411.90. This represents a 19.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,500 shares of company stock valued at $4,842,604. Corporate 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.