Beacon Financial Group Sells 456 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Beacon Financial Group cut its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 2.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 18,404 shares of the basic materials company’s stock after selling 456 shares during the period. Beacon Financial Group’s holdings in Air Products and Chemicals were worth $5,338,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in APD. Truvestments Capital LLC bought a new stake in Air Products and Chemicals during the third quarter worth approximately $25,000. Raleigh Capital Management Inc. boosted its holdings in shares of Air Products and Chemicals by 69.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 43 shares during the period. Financial Life Planners bought a new position in shares of Air Products and Chemicals during the 4th quarter valued at approximately $31,000. Iron Horse Wealth Management LLC raised its holdings in Air Products and Chemicals by 88.7% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock valued at $35,000 after buying an additional 55 shares during the period. Finally, Newton One Investments LLC bought a new stake in Air Products and Chemicals in the fourth quarter worth $38,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Performance

Shares of Air Products and Chemicals stock opened at $309.50 on Wednesday. The company has a market capitalization of $68.83 billion, a PE ratio of 17.97, a P/E/G ratio of 3.47 and a beta of 0.85. The company has a 50-day simple moving average of $309.32 and a two-hundred day simple moving average of $302.26. Air Products and Chemicals, Inc. has a one year low of $216.30 and a one year high of $341.14. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.34 and a current ratio of 1.11.

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 return on equity of 15.78% and a net margin of 31.88%. Research analysts expect that Air Products and Chemicals, Inc. will post 12.77 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. Shareholders of record on Tuesday, April 1st will be paid a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 2.31%. The ex-dividend date is Tuesday, April 1st. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s payout ratio is presently 41.11%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on APD shares. Barclays upgraded shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $315.00 to $365.00 in a research report on Friday, January 24th. Sanford C. Bernstein raised 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. Wells Fargo & Company raised their price objective on shares of Air Products and Chemicals from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. UBS Group upped their target price on Air Products and Chemicals from $375.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $320.00 price target (down from $345.00) on shares of Air Products and Chemicals in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $339.94.

Insider Buying and Selling

In other Air Products and Chemicals news, insider Francesco Maione sold 2,016 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $306.00, for a total value of $616,896.00. Following the completion of the transaction, the insider now owns 3,834 shares in the company, valued at approximately $1,173,204. This represents a 34.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Melissa N. Schaeffer sold 3,233 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $307.32, for a total value of $993,565.56. Following the completion of the transaction, the chief financial officer now directly owns 10,680 shares of the company’s stock, valued at $3,282,177.60. The trade was a 23.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,749 shares of company stock valued at $3,030,032 over the last quarter. 0.41% of the stock is currently owned by company insiders.

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.