Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC lowered its position in Air Products and Chemicals, Inc. (NYSE:APD) by 7.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 13,581 shares of the basic materials company’s stock after selling 1,045 shares during the period. Gabelli Funds LLC’s holdings in Air Products and Chemicals were worth $3,939,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Generali Investments Management Co LLC purchased a new stake in shares of Air Products and Chemicals in the fourth quarter valued at approximately $26,000. Raleigh Capital Management Inc. grew its holdings in shares of Air Products and Chemicals by 69.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 43 shares during the period. Sierra Ocean LLC acquired a new position in Air Products and Chemicals in the 4th quarter valued at about $30,000. Financial Life Planners purchased a new stake in shares of Air Products and Chemicals during the 4th quarter valued at approximately $31,000. Finally, WR Wealth Planners LLC grew its position in Air Products and Chemicals by 40.3% in the fourth quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 31 shares during the period. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on APD. BNP Paribas upgraded Air Products and Chemicals to a “strong-buy” rating in a report on Tuesday, February 11th. Barclays dropped their target price on shares of Air Products and Chemicals from $365.00 to $355.00 and set an “overweight” rating for the company in a report on Tuesday, April 1st. UBS Group cut their price objective on Air Products and Chemicals from $370.00 to $335.00 and set a “buy” rating on the stock in a report on Tuesday. StockNews.com lowered shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Finally, Citigroup reduced their target price on shares of Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $332.18.

Air Products and Chemicals Stock Performance

Shares of Air Products and Chemicals stock opened at $262.88 on Friday. 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 $228.48 and a 52 week high of $341.14. The firm’s 50 day moving average is $293.68 and its two-hundred day moving average is $306.64. The firm has a market capitalization of $58.48 billion, a P/E ratio of 15.27, a P/E/G ratio of 3.07 and a beta of 0.89.

Air Products and Chemicals (NYSE:APD) last posted its earnings results on Thursday, February 6th. The basic materials company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates 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%. Research analysts forecast 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 announced a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be given a $1.79 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.72%. Air Products and Chemicals’s dividend payout ratio is 41.58%.

Insiders Place Their Bets

In other news, VP Walter L. Nelson sold 589 shares of Air Products and Chemicals stock in a transaction on 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 of the company’s stock, valued at $221,811.50. The trade was a 45.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Francesco Maione sold 2,016 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $306.00, for a total transaction of $616,896.00. Following the sale, the insider now owns 3,834 shares of the company’s stock, valued at approximately $1,173,204. This represents a 34.46 % decrease in their position. 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 over the last quarter. Company insiders own 0.41% of the company’s stock.

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.