Quadrant Capital Group LLC Lowers Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Quadrant Capital Group LLC reduced its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,791 shares of the basic materials company’s stock after selling 146 shares during the period. Quadrant Capital Group LLC’s holdings in Air Products and Chemicals were worth $1,390,000 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. Vanguard Group Inc. increased its position in shares of Air Products and Chemicals by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 21,485,176 shares of the basic materials company’s stock worth $6,231,560,000 after acquiring an additional 207,404 shares during the period. Geode Capital Management LLC increased its holdings in Air Products and Chemicals by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 4,931,661 shares of the basic materials company’s stock worth $1,430,354,000 after purchasing an additional 57,314 shares during the period. Norges Bank acquired a new stake in Air Products and Chemicals in the 4th quarter valued at about $919,721,000. Raymond James Financial Inc. purchased a new position in shares of Air Products and Chemicals in the 4th quarter valued at about $885,371,000. Finally, Bank of New York Mellon Corp grew its position in shares of Air Products and Chemicals by 1.5% during 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 buying an additional 30,888 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on APD. Citigroup decreased their price target 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, March 25th. StockNews.com cut shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. Wells Fargo & Company increased their target price on Air Products and Chemicals from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, February 7th. BMO Capital Markets downgraded Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $320.00 price objective (down previously from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $340.88.

Insider Buying and Selling at Air Products and Chemicals

In other news, CFO Melissa N. Schaeffer sold 3,233 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Sean D. Major sold 4,500 shares of the firm’s 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 sale, the vice president now owns 14,273 shares of the company’s stock, valued at approximately $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 three months, insiders have sold 15,500 shares of company stock valued at $4,842,604. 0.41% of the stock is owned by company insiders.

Air Products and Chemicals Trading Down 7.0 %

NYSE APD opened at $263.35 on Monday. The firm’s fifty day moving average is $308.14 and its two-hundred day moving average is $309.39. Air Products and Chemicals, Inc. has a one year low of $227.53 and a one year high of $341.14. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 1.11. The firm has a market cap of $58.59 billion, a PE ratio of 15.29, a P/E/G ratio of 3.07 and a beta of 0.88.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data 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 net margin of 31.88% and a return on equity of 15.78%. Analysts expect 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 disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be given a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 2.72%. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date of this dividend is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is 41.58%.

Air Products and Chemicals Company 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.