Intech Investment Management LLC Sells 40,930 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Intech Investment Management LLC cut its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 49.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,156 shares of the basic materials company’s stock after selling 40,930 shares during the period. Intech Investment Management LLC’s holdings in Air Products and Chemicals were worth $12,227,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in APD. Signature Estate & Investment Advisors LLC purchased a new position in shares of Air Products and Chemicals in the 3rd quarter worth approximately $200,000. Natixis Advisors LLC lifted its stake in shares of Air Products and Chemicals by 31.9% during the 3rd quarter. Natixis Advisors LLC now owns 156,833 shares of the basic materials company’s stock worth $46,695,000 after acquiring an additional 37,964 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Air Products and Chemicals by 3.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 32,297 shares of the basic materials company’s stock worth $9,616,000 after acquiring an additional 1,177 shares during the last quarter. Strengthening Families & Communities LLC lifted its stake in shares of Air Products and Chemicals by 8.4% during the 3rd quarter. Strengthening Families & Communities LLC now owns 8,161 shares of the basic materials company’s stock worth $2,430,000 after acquiring an additional 632 shares during the last quarter. Finally, Drive Wealth Management LLC bought a new stake in shares of Air Products and Chemicals during the 3rd quarter worth approximately $207,000. 81.66% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, VP Walter L. Nelson sold 589 shares of the company’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 completion of the transaction, the vice president now owns 719 shares of the company’s stock, valued at approximately $221,811.50. This represents a 45.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Sean D. Major sold 4,500 shares of the company’s 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 directly owns 14,273 shares of the company’s stock, valued at $4,502,560.58. The trade was a 23.97 % decrease in their position. 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. 0.41% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

APD has been the subject of a number of research analyst reports. Barclays raised Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $315.00 to $365.00 in a research report on Friday, January 24th. Bank of America lowered Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 target price for the company. in a research report on Monday, January 27th. BMO Capital Markets lowered Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research report on Friday, February 7th. UBS Group reduced their price target on Air Products and Chemicals from $395.00 to $370.00 and set a “buy” rating for the company in a research report on Friday. Finally, StockNews.com lowered Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. One investment 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 company. According to MarketBeat.com, Air Products and Chemicals has an average rating of “Moderate Buy” and a consensus price target of $342.65.

Air Products and Chemicals Stock Performance

Shares of APD stock opened at $295.96 on Tuesday. The stock has a market cap of $65.84 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 3.07 and a beta of 0.85. The business has a 50-day simple moving average of $312.79 and a 200-day simple moving average of $308.25. 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 52-week low of $227.53 and a 52-week high of $341.14.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings data 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%. On average, equities analysts expect that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Increases Dividend

The firm also recently declared 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 boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date is Tuesday, April 1st. This represents a $7.16 dividend on an annualized basis and a yield of 2.42%. Air Products and Chemicals’s dividend payout ratio is presently 41.58%.

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.