Great Lakes Advisors LLC Decreases Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Great Lakes Advisors LLC decreased its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 5.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 289,107 shares of the basic materials company’s stock after selling 16,027 shares during the period. Great Lakes Advisors LLC’s holdings in Air Products and Chemicals were worth $83,853,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of Air Products and Chemicals by 1.9% in the third quarter. Geode Capital Management LLC now owns 4,874,347 shares of the basic materials company’s stock worth $1,448,570,000 after buying an additional 88,806 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Air Products and Chemicals in the fourth quarter worth $885,371,000. Bank of New York Mellon Corp increased its stake in shares of Air Products and Chemicals by 1.5% in the fourth quarter. Bank of New York Mellon Corp now owns 2,088,449 shares of the basic materials company’s stock worth $605,734,000 after acquiring an additional 30,888 shares during the period. National Bank of Canada FI increased its stake in shares of Air Products and Chemicals by 3.9% in the third quarter. National Bank of Canada FI now owns 1,867,290 shares of the basic materials company’s stock worth $555,967,000 after acquiring an additional 70,759 shares during the period. Finally, Stifel Financial Corp increased its stake in shares of Air Products and Chemicals by 1.2% in the third quarter. Stifel Financial Corp now owns 1,633,381 shares of the basic materials company’s stock worth $486,343,000 after acquiring an additional 19,209 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Down 1.7 %

Shares of NYSE:APD opened at $298.41 on Wednesday. The company has a market capitalization of $66.39 billion, a PE ratio of 17.33, a P/E/G ratio of 3.07 and a beta of 0.85. The company has a current ratio of 1.11, a quick ratio of 0.96 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 firm has a 50 day simple moving average of $312.10 and a 200-day simple moving average of $307.80.

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 for the quarter, missing analysts’ consensus estimates 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%. On average, equities analysts predict that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be paid a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Tuesday, April 1st. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s dividend payout ratio (DPR) is 41.58%.

Insider Transactions at Air Products and Chemicals

In other news, VP Walter L. Nelson sold 589 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $308.50, for a total value of $181,706.50. Following the completion of the sale, the vice president now owns 719 shares in the company, valued at approximately $221,811.50. This trade represents a 45.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sean D. Major sold 4,500 shares of the stock in a transaction dated 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 completion of the transaction, the vice president now owns 14,273 shares of the company’s stock, valued at $4,502,560.58. This represents a 23.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,500 shares of company stock worth $4,842,604. Company insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

APD has been the topic of several analyst reports. JPMorgan Chase & Co. restated a “neutral” rating and set a $320.00 price target (down previously from $345.00) on shares of Air Products and Chemicals in a research report on Friday, February 7th. 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. StockNews.com downgraded shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Wells Fargo & Company raised their price target on shares of Air Products and Chemicals from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Finally, UBS Group raised their price target on shares of Air Products and Chemicals from $375.00 to $385.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $343.53.

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.