Intact Investment Management Inc. Sells 15,280 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Intact Investment Management Inc. lowered its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 43.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,800 shares of the basic materials company’s stock after selling 15,280 shares during the quarter. Intact Investment Management Inc.’s holdings in Air Products and Chemicals were worth $5,743,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Truvestments Capital LLC bought a new stake in Air Products and Chemicals during the third quarter worth $25,000. Raleigh Capital Management Inc. grew its holdings in Air Products and Chemicals by 69.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock worth $30,000 after buying an additional 43 shares in the last quarter. Sierra Ocean LLC bought a new stake in Air Products and Chemicals during the fourth quarter worth $30,000. Financial Life Planners bought a new position in Air Products and Chemicals in the 4th quarter valued at $31,000. Finally, WR Wealth Planners LLC grew its stake in Air Products and Chemicals by 40.3% in 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 period. Institutional investors own 81.66% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on APD. Barclays upgraded Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $315.00 to $365.00 in a research note on Friday, January 24th. StockNews.com downgraded Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. BMO Capital Markets downgraded Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. UBS Group increased their price target on 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. Finally, Bank of America downgraded Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price target for the company. in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $343.53.

Air Products and Chemicals Stock Performance

NYSE:APD opened at $292.53 on Friday. The business’s 50-day moving average price is $312.38 and its two-hundred day moving average price is $307.60. Air Products and Chemicals, Inc. has a twelve month low of $227.53 and a twelve month high of $341.14. The stock has a market cap of $65.08 billion, a P/E ratio of 16.99, a PEG ratio of 3.07 and a beta of 0.85. 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 (NYSE:APD) last released its quarterly earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share 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%. As a group, 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 firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be issued a $1.79 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $7.16 annualized dividend and a dividend yield of 2.45%. 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 presently 41.58%.

Insider Buying and Selling at Air Products and Chemicals

In related news, insider Wilbur Mok sold 1,300 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $315.88, for a total transaction of $410,644.00. Following the transaction, the insider now directly owns 3,193 shares of the company’s stock, valued at approximately $1,008,604.84. This trade represents a 28.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Walter L. Nelson sold 589 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $308.50, for a total value of $181,706.50. Following the transaction, the vice president now directly owns 719 shares in the company, valued at approximately $221,811.50. This represents a 45.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,500 shares of company stock valued at $4,842,604 in the last 90 days. Corporate 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.