Chesapeake Capital Corp IL Decreases Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Chesapeake Capital Corp IL reduced its position in Air Products and Chemicals, Inc. (NYSE:APD) by 24.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,115 shares of the basic materials company’s stock after selling 1,024 shares during the period. Air Products and Chemicals accounts for about 0.9% of Chesapeake Capital Corp IL’s holdings, making the stock its 21st largest holding. Chesapeake Capital Corp IL’s holdings in Air Products and Chemicals were worth $903,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of Air Products and Chemicals by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,874,347 shares of the basic materials company’s stock worth $1,448,570,000 after buying an additional 88,806 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Air Products and Chemicals during the 4th quarter valued at about $885,371,000. Bank of New York Mellon Corp raised its position in 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 acquiring an additional 30,888 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of Air Products and Chemicals by 3.9% in the third quarter. National Bank of Canada FI now owns 1,867,290 shares of the basic materials company’s stock valued at $555,967,000 after purchasing an additional 70,759 shares in the last quarter. Finally, Stifel Financial Corp grew its position in shares of Air Products and Chemicals by 1.2% in the third quarter. Stifel Financial Corp now owns 1,633,381 shares of the basic materials company’s stock valued at $486,343,000 after purchasing an additional 19,209 shares during the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on APD shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $320.00 target price (down previously from $345.00) on shares of Air Products and Chemicals in a research note on Friday, February 7th. StockNews.com downgraded Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. BNP Paribas raised shares of Air Products and Chemicals to a “strong-buy” rating in a research note on Tuesday, February 11th. Bank of America cut shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price target on the stock. in a research note on Monday, January 27th. Finally, 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 for the company in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $342.65.

Air Products and Chemicals Price Performance

Shares of Air Products and Chemicals stock opened at $291.56 on Wednesday. The business’s fifty day moving average price is $312.89 and its 200 day moving average price is $308.34. Air Products and Chemicals, Inc. has a twelve month low of $227.53 and a twelve month high of $341.14. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $64.87 billion, a P/E ratio of 16.93, a PEG ratio of 3.07 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD) last issued its 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%. As a group, research analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be paid a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is currently 41.58%.

Insider Activity at Air Products and Chemicals

In other Air Products and Chemicals news, insider Kurt Lefevere sold 1,500 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $316.17, for a total transaction of $474,255.00. Following the transaction, the insider now owns 1,462 shares in the company, valued at $462,240.54. The trade was a 50.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Walter L. Nelson sold 589 shares of the 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 completion of the sale, the vice president now owns 719 shares of the company’s stock, valued at approximately $221,811.50. This trade represents a 45.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,500 shares of company stock worth $4,842,604. 0.41% of the stock is currently owned by corporate 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.