Cannell & Spears LLC Has $25.05 Million Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Cannell & Spears LLC cut its position in Air Products and Chemicals, Inc. (NYSE:APD) by 0.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 86,359 shares of the basic materials company’s stock after selling 407 shares during the quarter. Cannell & Spears LLC’s holdings in Air Products and Chemicals were worth $25,048,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Generali Investments Management Co LLC bought a new position in shares of Air Products and Chemicals in the fourth quarter worth about $26,000. 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 valued at $30,000 after buying an additional 43 shares during the last quarter. Sierra Ocean LLC acquired a new stake in shares of Air Products and Chemicals in the fourth quarter worth $30,000. Financial Life Planners bought a new position in Air Products and Chemicals during the fourth quarter worth $31,000. Finally, WR Wealth Planners LLC raised its stake in Air Products and Chemicals by 40.3% during the 4th quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 31 shares during the last quarter. Institutional investors own 81.66% of the company’s stock.

Analysts Set New Price Targets

APD has been the topic of several research reports. Sanford C. Bernstein upgraded Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price target on the stock in a research note on Friday, January 31st. Bank of America downgraded shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price target on the stock. in a research note on Monday, January 27th. 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 report on Tuesday, March 25th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $320.00 target price (down from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. Finally, Wells Fargo & Company boosted their price target 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $341.47.

Air Products and Chemicals Stock Performance

Shares of Air Products and Chemicals stock opened at $292.34 on Monday. The firm has a 50 day simple moving average of $311.68 and a 200 day simple moving average of $309.41. Air Products and Chemicals, Inc. has a fifty-two week low of $227.53 and a fifty-two week high of $341.14. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 0.96. The firm has a market cap 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.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results 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 net margin of 31.88% and a return on equity of 15.78%. Sell-side analysts predict 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be issued a $1.79 dividend. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 annualized dividend and a yield of 2.45%. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio is currently 41.58%.

Insiders Place Their Bets

In other Air Products and Chemicals news, insider Kurt Lefevere sold 1,500 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $316.17, for a total value of $474,255.00. Following the transaction, the insider now owns 1,462 shares of the company’s stock, valued at approximately $462,240.54. This represents a 50.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Walter L. Nelson sold 589 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $308.50, for a total value of $181,706.50. Following the transaction, the vice president now owns 719 shares of the company’s stock, valued at $221,811.50. The trade was a 45.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,500 shares of company stock valued at $4,842,604. Company insiders own 0.41% of the company’s stock.

Air Products and Chemicals Profile

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.