Sentry Investment Management LLC Sells 149 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Sentry Investment Management LLC reduced its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 14.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 915 shares of the basic materials company’s stock after selling 149 shares during the period. Sentry Investment Management LLC’s holdings in Air Products and Chemicals were worth $265,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in APD. Truvestments Capital LLC bought a new position in shares of Air Products and Chemicals during the 3rd quarter valued at $25,000. Sierra Ocean LLC purchased a new stake in Air Products and Chemicals during the fourth quarter valued at about $30,000. Raleigh Capital Management Inc. boosted its position 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 valued at $30,000 after buying an additional 43 shares during the period. Financial Life Planners bought a new position in shares of Air Products and Chemicals during the fourth quarter valued at about $31,000. Finally, Newton One Investments LLC purchased a new position in shares of Air Products and Chemicals in the fourth quarter worth about $38,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on APD. 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 lowered Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. Barclays raised shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $315.00 to $365.00 in a research note on Friday, January 24th. 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. Finally, Sanford C. Bernstein upgraded shares of Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price objective on the stock in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $339.94.

Insiders Place Their Bets

In related news, VP Sean D. Major sold 4,500 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $315.46, for a total value of $1,419,570.00. Following the transaction, the vice president now owns 14,273 shares in the company, valued at $4,502,560.58. The trade was a 23.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Wilbur Mok sold 1,300 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $315.88, for a total transaction of $410,644.00. Following the sale, the insider now directly owns 3,193 shares in the company, valued at $1,008,604.84. This trade represents a 28.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,911 shares of company stock worth $4,660,897. 0.41% of the stock is currently owned by company insiders.

Air Products and Chemicals Trading Up 2.6 %

APD opened at $317.51 on Wednesday. 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. The stock has a market cap of $70.64 billion, a PE ratio of 18.44, a PEG ratio of 3.07 and a beta of 0.85. The business has a 50 day moving average of $308.81 and a 200-day moving average of $305.34.

Air Products and Chemicals (NYSE:APD) last announced 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%. Equities research analysts predict that Air Products and Chemicals, Inc. will post 12.69 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. Investors of record on Tuesday, April 1st will be paid a dividend of $1.79 per share. The ex-dividend date is Tuesday, April 1st. This represents a $7.16 annualized dividend and a yield of 2.26%. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s payout ratio is presently 41.11%.

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.