Advisors Asset Management Inc. Trims Position in Air Products and Chemicals, Inc. (NYSE:APD)

Advisors Asset Management Inc. cut its position in Air Products and Chemicals, Inc. (NYSE:APD) by 18.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 60,419 shares of the basic materials company’s stock after selling 13,533 shares during the period. Advisors Asset Management Inc.’s holdings in Air Products and Chemicals were worth $17,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. First Horizon Advisors Inc. boosted its holdings in shares of Air Products and Chemicals by 1.8% in the 4th quarter. First Horizon Advisors Inc. now owns 1,742 shares of the basic materials company’s stock valued at $505,000 after acquiring an additional 31 shares during the last quarter. Lake Street Advisors Group LLC boosted its holdings in Air Products and Chemicals by 1.6% during the fourth quarter. Lake Street Advisors Group LLC now owns 2,028 shares of the basic materials company’s stock worth $588,000 after buying an additional 31 shares in the last quarter. WR Wealth Planners LLC lifted its holdings in Air Products and Chemicals by 40.3% during the fourth 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 in the last quarter. Silver Oak Securities Incorporated lifted its holdings in Air Products and Chemicals by 1.1% during the fourth quarter. Silver Oak Securities Incorporated now owns 3,074 shares of the basic materials company’s stock valued at $888,000 after purchasing an additional 32 shares in the last quarter. Finally, SRS Capital Advisors Inc. lifted its holdings in Air Products and Chemicals by 3.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 974 shares of the basic materials company’s stock valued at $282,000 after purchasing an additional 33 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Trading Up 1.4 %

NYSE APD opened at $295.96 on Tuesday. The firm has a 50 day simple moving average of $312.79 and a 200-day simple moving average of $308.25. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 1.11. Air Products and Chemicals, Inc. has a one year low of $227.53 and a one year high of $341.14. The firm has a market cap of $65.84 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 3.07 and a beta of 0.85.

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 (EPS) 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%. Equities research analysts anticipate 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 declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be paid a $1.79 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $7.16 dividend on an annualized basis and a yield of 2.42%. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s payout ratio is currently 41.58%.

Insider Buying and Selling

In related news, VP Sean D. Major sold 4,500 shares of Air Products and Chemicals stock in a transaction that occurred on 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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Walter L. Nelson sold 589 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $308.50, for a total transaction of $181,706.50. Following the sale, the vice president now directly owns 719 shares in the company, valued at approximately $221,811.50. The trade was a 45.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,500 shares of company stock worth $4,842,604 over the last 90 days. 0.41% of the stock is owned by insiders.

Analyst Ratings Changes

APD has been the subject of a number of recent research reports. BMO Capital Markets cut shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research report on Friday, February 7th. Bank of America cut shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price objective for the company. in a research report on Monday, January 27th. 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. BNP Paribas upgraded shares of Air Products and Chemicals to a “strong-buy” rating in a research report on Tuesday, February 11th. Finally, UBS Group cut their price objective on shares of Air Products and Chemicals from $395.00 to $370.00 and set a “buy” rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Air Products and Chemicals has an average rating of “Moderate Buy” and an average target price of $342.65.

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.