Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lowered its position in Air Products and Chemicals, Inc. (NYSE:APD) by 60.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,886 shares of the basic materials company’s stock after selling 28,529 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Air Products and Chemicals were worth $5,478,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Pathway Financial Advisers LLC raised its position in shares of Air Products and Chemicals by 29,954.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company’s stock worth $861,722,000 after purchasing an additional 2,884,581 shares during the last quarter. ING Groep NV raised its position in shares of Air Products and Chemicals by 240.7% during the 3rd 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 during the last quarter. Mizuho Markets Americas LLC raised its position in shares of Air Products and Chemicals by 318.7% during the 3rd quarter. Mizuho Markets Americas LLC now owns 948,723 shares of the basic materials company’s stock worth $282,473,000 after purchasing an additional 722,132 shares during the last quarter. Van ECK Associates Corp raised its holdings in Air Products and Chemicals by 1,685.4% in the 3rd quarter. Van ECK Associates Corp now owns 764,489 shares of the basic materials company’s stock valued at $249,698,000 after acquiring an additional 721,671 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in Air Products and Chemicals by 29,957.6% in the 3rd quarter. International Assets Investment Management LLC now owns 718,075 shares of the basic materials company’s stock valued at $2,138,000,000 after acquiring an additional 715,686 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

APD has been the subject of several analyst reports. UBS Group increased their price target on shares of Air Products and Chemicals from $375.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Wells Fargo & Company increased their price target on shares of 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. StockNews.com cut shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. BNP Paribas raised shares of Air Products and Chemicals to a “strong-buy” rating in a research note on Tuesday, February 11th. Finally, Citigroup increased their price target on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $339.94.

Air Products and Chemicals Price Performance

Shares of NYSE:APD opened at $316.97 on Wednesday. The company’s fifty day moving average price is $308.39 and its 200 day moving average price is $304.10. Air Products and Chemicals, Inc. has a 12 month low of $225.26 and a 12 month 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 1.34. The firm has a market capitalization of $70.49 billion, a P/E ratio of 18.41, a P/E/G ratio of 3.47 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings results on Thursday, February 6th. The basic materials company reported $2.86 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, sell-side analysts predict that Air Products and Chemicals, Inc. will post 12.77 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. Shareholders of record on Tuesday, April 1st will be given a dividend of $1.79 per share. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 41.11%.

Insiders Place Their Bets

In other Air Products and Chemicals news, VP Sean D. Major sold 4,500 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $315.46, for a total transaction of $1,419,570.00. Following the transaction, the vice president now directly owns 14,273 shares of the company’s stock, valued at approximately $4,502,560.58. This trade represents a 23.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Melissa N. Schaeffer sold 3,233 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $307.32, for a total transaction of $993,565.56. Following the transaction, the chief financial officer now directly owns 10,680 shares in the company, valued at $3,282,177.60. The trade was a 23.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,749 shares of company stock valued at $3,030,032. 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.